Who to file income tax return

This discussion explores whether a business involved in the purchase and sale of old vehicles can be treated as a trading business and filed under Section 44AD of the income tax return. While outright purchase and sales with ownership transfer generally allow for presumptive assessment, the specifics of transactions where ownership isn't immediately transferred are debated. The conversation also touches upon whether such transactions could be considered short-term capital gains and clarifies that this type of business is not typically eligible for Section 44AD.