TURNOVER OF SHARE TRADING BUSINESS

This query is : Resolved

vipin minocha (Querist)
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12 October 2020 Beside my regular business of trading of Machinery parts turnover for Rs.80 Lacs. I also done share trading business (Intra day/speculative) for Rs.1.60 Lacs (Total of Plus & Minus figures) and delivery based (short term) business for 26 Lacs.

Kindly advise what will be my business turnover for the purpose of computing Income u/s 44AD of Income Tax.

Can I show delivery based share income as short term capital gain.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 October 2020 Show delivery based share income as short term capital gain. In such a case
44AD not applicable for speculative trading.
Your 44AD turnover is 80 lacs.

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