21 March 2022
A person who involved in share transactions. He had in his account Trade, Derivative & Delivery transactions. I want to know whether section 44AD is applicable to Trade & Derivative transactions. What is the turnover is to be taken. Whether 6% income under 44AD is applicable for for both cases.
21 March 2022
Yes, 6% income under 44AD applicable. The turnover in case of a derivative is sum of positive and negative. In case of delivery based trade it can be considered as capital gains.
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