Intraday loss in shares in income tax return

258 views 7 replies

One of my client has loss from intraday so when I am filling his return a warning appears that profit is less than 8 % assessee should go for audit plz suggest me remedy 

Replies (7)

Yes, its 'Eligible Business'  as per sec. 44AD.

If  aggregate income of assessee (before any deductions)  exceed BEL... tax audit mandatory.

then sir what is remedy as it is intraday

1. 6% minimum profit for Intra Day TurnOver

Or...... 2. Loss to the extent....... that aggregate of all the incomes falls below BEL .....

Or. .....3. Audit of Intraday business.......

please  elaborate    point 2

Income from all other heads..... including 'Salary'......... alongwith adjustment of business loss. as per its eligibility under the act.......if is below 2.50 lakhs, for <60 yrs age    or < 3 lakhs for sr. ctzn..... then no need for audit u/s. 44AB.

Sir salary is above 350000 plz suggest

Then Audit business transactions u/s. 44AB...


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details