Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 29 March 2022
amit
(Software Consultant)
(103 Points)
Replied 29 March 2022
sole proprietorship as of now
Read more at: https://www.caclubindia.com/forum/looking-for-urgent-help-in-filing-itrs-for-ay-2021-22-and-for-ay-2022-23-in-delhi-588090.asp
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 29 March 2022
amit
(Software Consultant)
(103 Points)
Replied 29 March 2022
am bit confused, , how to allocate cost incurred on effort and resources spent on stock trading , for ST capital gains.....my effort split is between business initiative and shares trading
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 30 March 2022
amit
(Software Consultant)
(103 Points)
Replied 30 March 2022
that i have, but do we allocate infra /office costs etc... to capital gain profits...
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 30 March 2022
amit
(Software Consultant)
(103 Points)
Replied 30 March 2022
ok so somewhere i have seen , ST capital gains (beside intraday) can be considered as business gains and added to income ....if considerable effort and resources are spent on trading
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 30 March 2022
amit
(Software Consultant)
(103 Points)
Replied 30 March 2022
ok currently only income in FY 20-21 was from equity, and majorly ST capital gains.....how do we show in business in 44 ADA or need to have balance sheet to show cost
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 30 March 2022
amit
(Software Consultant)
(103 Points)
Replied 30 March 2022
so ST capital gain from share trading can be considered as business income with 6% of the gain as net profit ???
can u help on this today to review my revised return for AY2021-22, for which last date is tomorrow, I am fine to compensate your suggestions/efforts...though income is small but can't afford to make mistakes this time.... may save few thousands from tax at this time is considerable for me
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 30 March 2022
amit
(Software Consultant)
(103 Points)
Replied 30 March 2022
is it 44 AD or 44ADA,
in 44ADA its 50% for professionals and 44AD is marked for business in clear tax.....I do not have any registered business...
ST is around 4.66L and LT 98K...for FY 20-21
CAclubindia
