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Presumptive taxation scheme 44ad & 44ada

Harshit (Arbitrager) (215 Points)

17 July 2019

Hi,

I am a stock trader in Equities, Futures & option trading with a Proprietary trading desk.. I get professional income from my firm, and my employer files the TDS under 194J. I wanted to know if i can file my income tax under the Presumptive Taxation scheme, if yes than which one is applicable for me, 44AD or 44ADA?

Thanks,

Harsh Patel

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6 Replies

shivpriya maurya (61 Points)
Replied 17 July 2019

44 ada because you are getting professional income.

Naresh Khanduri (301 Points)
Replied 17 July 2019

sec... 44ADA

khalid (soical work) (222 Points)
Replied 17 July 2019

44ADA. 50% gross receipts are considered as business income.

Harshit (Arbitrager) (215 Points)
Replied 17 July 2019

But I am a Stock Trader & analyst and the list of professionals mentioned under 44ADA, does not have Stock trader listed in the list. So u think its okay to file 44ADA, i have been filling regular ITR3 so far 3 years.

khalid (soical work) (222 Points)
Replied 17 July 2019

TDS deducted under 194j that why .

Surakshit Naagar (7 Points)
Replied 22 July 2019

Originally posted by : Harshit
	Hi, I am a stock trader in Equities, Futures & option trading with a Proprietary trading desk.. I get professional income from my firm, and my employer files the TDS under 194J. I wanted to know if i can file my income tax under the Presumptive Taxation scheme, if yes than which one is applicable for me, 44AD or 44ADA? Thanks, Harsh Patel