EASYOFFICE

Tax audit

This query is : Resolved 
Profile Image

Profile Image

(Querist)
19 September 2015 If the futures and derivatives trading turn over exceed one crore whether tax audit under section 44AB has to be done
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
19 September 2015 the MOD value (positive value between sale and purchase) exceeds 1 crore, then TAX audit is applicable.
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
19 September 2015 Not positive value alone but the 'absolute value' of the profit and loss has to be considered as turnover for the purpose of 44AB.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
20 September 2015 Thank you B Chakrapani Warrier.
In mathematics it is called as MOD value.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


EasyOFFICE CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links