Is Section 44AD applicable in the case of salaried person who is also doing F&O (derivatives) and speculative shares trading with turnover less that 15 lacs. There are certain losses rather than gains to show from those trading.
What is the requirement which is applicable in this case with respect to audit and book keeping.
The point is that if clause of - (less than 8 per cent or loss) is applicable here, it will in fact be applicable on a sizebale population maybe majority of those who are salaried and involed in trading in derivatives or sepculative trading and most will carry some losses.
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