Income from share trading
indian (MBA) (40 Points)
21 June 2016
what are the tax implications on income from shaare trading
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 21 June 2016
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 21 June 2016
Hiten
(CA)
(275 Points)
Replied 21 June 2016
And if there is loss from F&O and my total income exceeds basic exemption limit then whether audit id necessary?
Sujeet Italiya
(CA Practice )
(24 Points)
Replied 22 June 2016
Dear Hiten,
You are liable to tax audit u/s 44AB r/w section 44AD also aplicable since profit on F&O Transaction is less than 8% i.e you had incurred loss on F&O transaction. It is not matter whether your Total Income exceed basic exemption limit or not.
Regards,
Sujeet
KACHAM SHEKHAR
(PROPRIETOR)
(49 Points)
Replied 23 June 2016
Mr. Sujeet, tax audit is not applicable if a person having below taxable income.
CA. Kacham Shekhar
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