Normal business under section 44ad and FNO loss reporting

[Raghav Sharma]

One of my client have a business with Rs. 1.82 crore turnover (to be offered under 44AD presumptive) and an F&O loss of Rs. 19,500 on Rs. 1.42 lakh turnover (all digital) for FY 2025-26. Can I file ITR-3 with the Rs. 1.82 crore under 44AD and F&O as a separate normal business showing the loss - without tax audit u/s 44AB -?

Kindly guide on the matter.

AI Summary

Presumptive taxation and F&O loss reporting raise questions about separate business treatment and tax-audit applicability in ITR-3.
Presumptive taxation of an ordinary business and separate reporting of a futures and options trading loss are considered for ITR-3 filing. The issue is whether business turnover may be offered under the presumptive taxation scheme while futures and options activity is treated as a separate normal business and its loss is disclosed independently, without a tax audit. The query also concerns the relevance of digital futures and options transactions to tax-audit applicability.