Comment on Notice under Section 139(9)? - Possible reason

Pratik commented on 05 Jul 2015, 08:05 PM

Is speculation business also covered under section 44AD?

If yes, then if a person who has earned a profit of more than 8% of the turnover and the turnover is below Rs. 1Cr. claim shelter under this section and show profits @ 8%?

And also which ITR form should be used because ITR-4S cannot be used by a person who has speculation income.

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