New business codes

Hello Sir,

Can you please let me know the 'Business Code' to be used in case of 'Stock Market Intraday / FnO Trading activities ?

Sir, I can still file my trading income under 44AD for AY 2018-19. Right ? I have heard rumours that IT Department has banned traders from opting 44AD.

Thanks in Advance, Sir 

"I can still file my trading income under 44AD for AY 2018-19. Right?"

Yes, I am of the same opinion.

"I have heard rumours that IT Department has banned traders from opting 44AD."

No such official announcement/notification.

Only point is once you have opted out from Sec. 44AD, you have to keep books and get them audited for next FIVE years, and can't opt in till such period.

The 'Business Code' to be used in case of 'Stock Market Intraday / FnO Trading activities

No specific code allotted till now, but can apply......

09028-Retail sale of other products n.e.c ......for time being...

Thanks for ur support sir, 

plz clear,  PERSON WHO IS A SMALL KIND OF 'MASON CONTRACTOR' (UNAUTHORIZED OR UN REGISTERED) UNDER 20 LAC INCOME, IN  A.Y. 2018-19, WHAT WILL BE THE 'NATURE OF INCOME' CODE FOR HIS WORK. CAN HE FILE HIS RETURN IN 44AD WITH LIMITED PROFIT (i.e. 260000)FROM 17-18 LAC GROSS INCOME? 

This kind of return is safe for above mentioned person?

PLZ REPLY

 

Is he just supplier of masons/labours or  takes contract with material?

yes sir, you r right, he is just supplier of masons/labours or takes contract with material. plz suggest suitable business code for a.y. 2018-19..

You can choose either or both of......

Other construction activity n.e.c. .......... 06010   OR

Other services n.e.c. ........... 21008   (as per the codes declared till date)

Yes...... Yes........ These are new codes released for this year, but as per my understnding these are not complete, hence said that.

We can definitely use these for AY 2018-19.

Most Welcome......

R/ SIR, A PERSON HAVING INCOME FROM "A SMALL KARYANA  SHOP IN VILLAGE, WITH 550000/- SALE  & HIRING INCOME 410000/-  BY A VEHICLE (TATA ACE). TOTAL GROSS PROFIT IS 288887/-. PLZ SUGGEST ME BUSINESS CODE FOR ABOVE BUSINESS.

Retail sale in non-specialized stores............  09023

Other Transport & Logistics services n.e.c  ......   11015