Taxation using Presumptive Income section 44AD

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.