Taxation using Presumptive Income section 44AD

My intraday turnover is 1.75 crore and actual profit as per P&L is 1.25 crore.
Can i file my ITR in 44AD in which i will show my presumptive profit @ 6% of 1.75 crore turnover = 10.50 lacs and pay income tax according to slab.

Replies (4)
Quick Summary
This discussion explores the applicability of Section 44AD for presumptive income taxation. It clarifies that intraday trading, being speculative, is not eligible for Section 44AD. However, short-term capital gains (STCG) are considered normal business income and can potentially be offered under Section 44AD at the 6% presumptive rate, though officers may scrutinise for higher profits.

No, u can not
Intraday is speculative business and speculation is not allowed in 44AD
@ abhishek....in case, i have STCG of Rs. 25 lakh on turnover of Rs. 2 crore. What in that case?. can I offer income @ 6% of 2 crore. i.e. 12 lakh?
STCG is not speculative business , it is normal business , u can do 6% but there is a problem 6% is Minimum profit , IT OFFICER can trace ur more profits then u can come in a problem

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