Speculation business - covered u/s 44ad or not ?

According to me Speculaion business is covered u/s 44AD. All eligible businesses are covered under this section. As per Section 44AD eligible business means:

1. Not covered u/s 44AE ( business of plying, hiring and leasing carriages)

2. total turnover is less than Rs. 60 lakhs.

However turnover in speculation business is not sale value of the scrips sold. If there is no delivery of securities (in futures and options market as well as in intraday trading) the net profit / loss is considered as turnover for each transaction. The turnover will be scrip wise difference; whether profit or loss. 

Suppose Future derivative market, the assesee trades in the shares of X ltd., Y ltd. and Z ltd in June series.  He makes the profit as under:

X ltd .- profit of  Rs. 15,000/-

Y ltd. - loss of Rs. 10,000/-

Z ltd. - loss of Rs. 2,000/-

then his total tunover will be Rs. 27,000/- (Rs.15,000/- + Rs10,000/-+ Rs.2,000/-). and not Rs. 3,000/- (Rs.15,000 - Rs.10,000 - Rs.2,000).

The business income will be calculated as 8% on Rs.27,000/- which comes to Rs.2,160/-

Fully agreed with Dhruv.

speculative business is covered u/s 43(5) of income tax act 1961 ..................................

How to prepare Profit & Loss Statement in Above mentioned scenario. whats will be the Receipt from operation Figure & Expenses Figure ?