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Intra Day Trading

Dev (Article Trainee.) (613 Points)

26 May 2019

If I have Intra Day Trading Income of current year and Also Trading loss(Speculative loss) of previous year.
now if I show Intra day trading income under presumptive basis u/s 44AD i.e. 6% of Turnover.
How to claim Speculative loss of previous year against Trading Income shown under presumptive basis..

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7 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177692 Points)
Replied 27 May 2019

Software or ITR utility itself adjusts the amount when previous year/s losses are entered in relevant schedule.

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Dev (Article Trainee.) (613 Points)
Replied 27 May 2019

not happening.. declared Itra day income on presumptive basis u/s 44ad.. but it is not adjusting against Speculative loss of previous year.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177692 Points)
Replied 27 May 2019

Check 'Schedule CLF' of ITR 3.

Dev (Article Trainee.) (613 Points)
Replied 27 May 2019

when I entered in item no. 65 of Schedule PL, it works. but when I show in item no. 61 (presumptive income), it doesn't work. ITR is not treating Presumptive income as a Speculative income.