Applicability of tax audit

This query is : Resolved

Rakesh Sharma (Querist)
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26 August 2015 We have short term gain of Rs. 24,50,208/- from the share trading as per details :-

Purchase Cost : 11,08,11,559.00
Sales Value : 11,32,61,767.00

STT is paid.

Should we get our books audited.

Please advise.

CA Mohit Bansal

CA Mohit Bansal (Expert)
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27 August 2015 Mr. Sharma,

As the trading turnover goes above Rs. 1 crore, it is advisable to get your books audited. From the tax planning point of view also, tax audit is advisable as tax on stcg is 15% which comes approx Rs. 3.7L in your case.

bmohit02@gmail.com