Intra Day loss carry forward

The best option for your case, without an audit and balance sheet , is to opt for section 44AD for the speculation business, declaring income at 6% (i.e. 13k), and also show another professional income under section 44ADA in the New scheme.

i am not sure if you can technically use 44AD once you are a professional covered under 44ADA!

Ok sir thank you.both ...but again now as per above  ...I am asking... can I opt both 44ad and 44 ada at the same time .... please answer if possible....

Thank you 😊 

no. as answered above. Once you pick 44ADA, you are legally barred from 44AD as 44AD specifically bars people engaged in 44AA(1) professions.

Ok sir thanks...than what option I have available ....,,? For speculation income 

have you filed return under 44AD in previous years?

Last year I filed 44ada in ITR 3 form, due to having some share income so can't choose form ITR 4,

Assuming the ₹77,000 is a genuine speculative business loss, he cannot claim it merely by choosing presumptive taxation. Section 44AD does not apply to speculative transactions, and reporting 6% of ₹2.2 lakh as presumptive income would not convert a speculative loss into 44AD income. Section 44ADA may still be used for eligible professional receipts, subject to its conditions.

• To claim and carry forward the speculative loss, file the applicable ITR by the due date under section 139(1), disclose the speculative business and loss, and maintain records sufficient to support the computation. The loss can be set off only against speculative business profits and carried forward for up to four assessment years.
• A tax audit is not automatically required just because the loss is claimed. Audit exposure depends on the applicable business turnover and profit rules, including section 44AB; the stated ₹2.2 lakh turnover alone does not settle this without knowing the nature of transactions and the relevant tax-audit conditions.
• A balance sheet is not, by itself, a prerequisite to carry forward the loss, but proper books and evidence of the transactions are important. The ₹30,000 STCG and ₹35,000 LTCG are reported separately and cannot be set off against the speculative loss.
• The new tax regime does not remove these loss-reporting requirements. The correct ITR form and the treatment of the professional receipts depend on the assessment year, the client’s other income and whether the professional work qualifies under section 44ADA.

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