Are the income criteria and turnover criteria of 44AA separate for each business?

Turnover criteria would be aggregate for all businesses taken together.. You can opt for presumptive assessment.

Thank you sir for your guidance, but how should we go for presumptive assesment for speculative intraday income? Under which head should we show the income?

Both businesses will be under PGBP head, having separate business codes, with aggregate turnover.

Sir, what would be business code for intraday trading?

 Thank you.

As such no specific code, but following can be used.

Thank you Sir for your guidance. Here in this post, Seetharaman ji is saying 44AD is not applicable for speculative income.
https://www.caclubindia.com/experts/speculation-business-income-u-s-44ad-2926309.asp 
Please advice what to do.
Thank you.

Yes, some CA have such view, but many are following otherwise. No specific guidelines about it from ICAI.

 Moreover, ITD is accepting it under presumptive assessment, without any defect.

Refer: https://www.taxontips.com/can-a-person-earning-income-from-speculative-business-transaction-file-return-u-s-44ad-of-income-tax-act/

&

https://www.caindelhiindia.com/blog/applicability-of-section-44ad-on-speculative-business/

Sir, Thank you for providing the link to relevant articles.

I have a doubt, say for example, I have loss of 1 lakh rupee in speculative activity and profit of 10 lakh in non speculative business. Then how will be declare it under 44AD?

If we declare 9 lakh profit, are we not offsetting losses of speculative business from non-speculative business?

Is offsetting of losses of speculative business from non-speculative business profit allowed? 

Thank you.

Presumptive assement is based on turnover and not over net profit. If you wish to offset any loss from two businesses you have to go for normal assessment.

Moreover loss from seculative business cannot be adjusted with non speculative business, it can only be carried forward to get it adjusted against any future speculative gains.

Sir, Thank you for the clarification.

So we can go for presumptive assesment, in following cases

1. If we declare profit from both speculative and non-speculative at 6% minimum
2. If we have loss from non-speculative business, but we declare 6% profit of combined turnover of speculative and non-speculative.
3. If we have loss in speculative, but declare 6% profit of speculative turnover and 6% percent profit of non-speculative turnover.

Please correct if my understanding is wrong.
Thank you.

Yes correct & answer to all three options will be same.

Loss or profit is not into consideration. Aggregate turnover is the main criteria for sec. 44AD IT act.

Thank you Sir, for your valuable advice. Wish you Happy New Year :)

You are welcome...

Happy New Year...