If 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.
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Shares Intra Day Trading U/s 44AD
Replies (4)
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....
What should be the business code?
09028 or 13010 or 13018 or any other .
'13018' Other financial intermediation services n.e.c.
Code will be 13108 Other Financial Intermediation
services
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