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F&o income- tax audit reqd.

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 July 2014 Individual earned income from F&O business approx 80 L besides his other incomes (Salary 57L + others 50K) . Will it require tax audit for filing income tax return for the year 2013-14. pls. advise.

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Nikhil Kaushik

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Nikhil Kaushik (Expert)
24 July 2014 what is the turnover F&O? that would determine the audit applicability. given that income from F&O itself is about 80L, there is a good chance that turnover will exceed Rs 1 cr.

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