Ankit Tantia (B.com ( Hons.) FCA DISA (ICAI)) (222 Points)
11 December 2021If Profit from Shares Intra day Trading (Speculative Business) is shown Under Sec 44 AD. How come the Income Tax Department shall know that the income is speculative as reporting under Sec 44 AD does not have speculative category.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 11 December 2021
SO WHAT EVEN IF IT IS KNOWN?
CAN YOU NOT DECLARE SPECULATIVE BUSINESS UNDER PRESUMPTIVE ASSESSMENT?
ANY NOTIFICATION OR RULING?
NOT SPECIFIED IN THE ACT, AT LEAST....
Ankit Tantia
(B.com ( Hons.) FCA DISA (ICAI))
(222 Points)
Replied 11 December 2021
What should be the business code?
09028 or 13010 or 13018 or any other .
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 11 December 2021
'13018' Other financial intermediation services n.e.c.
Tanuj Chandra Saxenaa
(Company Secretary)
(7075 Points)
Replied 12 December 2021
CAclubindia
