Two business one loss second profit ?

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This discussion clarifies tax filing for individuals with both business profits under Section 44AD and losses from share trading. The consensus is to file using ITR 4, declaring the business profit from 44AD and ignoring the minor share trading losses. A tax audit is generally not required in this scenario.

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 ?

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

06 May 2021 Thank you
भविष्य मे कुछ problems तो नाही होग ।

07 May 2021 No problem in case of loss not declared.

08 May 2021 Sir. In this case, would the assessee also offer presumptive profit on intraday absolute turnover ?

08 May 2021 Intraday profit is speculative hence 44AD not applicable.

08 May 2021 Dear Sir, There is no restriction for speculative business to offer income under sec 44AD.


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