Two business one loss second profit ?

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tusharthosar (Querist)
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06 May 2021 44 ad Gota Firm Business profit =205460/- and share trading short term loss (-256) And intreday loss (-1565) total Turnover share Business 5 lac.
which itr file? & Audit report applicable ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 May 2021 Ignore share trading losses which are meagre, file ITR 4 with 44AD business profit. Tax audit not applicable.

tusharthosar

tusharthosar (Querist)
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06 May 2021 Thank you
भविष्य मे कुछ problems तो नाही होग ।

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 May 2021 No problem in case of loss not declared.

CA Raj Doshi

CA Raj Doshi (Expert)
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08 May 2021 Sir. In this case, would the assessee also offer presumptive profit on intraday absolute turnover ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 May 2021 Intraday profit is speculative hence 44AD not applicable.

CA Raj Doshi

CA Raj Doshi (Expert)
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08 May 2021 Dear Sir, There is no restriction for speculative business to offer income under sec 44AD.

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