Presumptive tax u/s 44AD and 44ADA

This discussion clarifies the applicability of presumptive tax under sections 44AD and 44ADA for professionals, particularly when combined with Futures & Options (F&O) trading. It explains that if you have professional income and F&O losses, you must opt for normal provisions and file ITR-3 to carry forward those losses. While ITR-4S isn't suitable in this scenario, alternative structures like an HUF with a separate PAN might allow for presumptive tax treatment for professional income and normal provisions for F&O.