Future and option ITR

This discussion addresses a sole proprietor with two businesses: manufacturing and futures & options (F&O). The user reported a profit from manufacturing under presumptive taxation (Section 44AD) and a loss from F&O. The core questions are whether a tax audit is applicable and if the profits and losses from both businesses can be consolidated. The consensus is that the manufacturing business profit falls under 44AD, and F&O losses, if not intraday, should be treated separately, likely not requiring a tax audit unless other criteria are met.