Tax audit - taxable income

VK Iyer (Retired Govt. Servant) (54 Points)

28 August 2015  

FROM THE PARTICULARS BELOW PLEASE CONCLUDE WHETHER TAX AUDIT IS MANDATORY FOR ME.

Central Govt. Pensioner.

Male

 Age 52 years

Source of Income PENSION AND SHARE TRADING. SHARE TRADING TURNOVER =RS 35,00,000 APPROXIMATELY.

Sl.No

Particulars

Ay 2015-16 Amount Rs.

1

Government Pension.  Received through SBI

TDS made by SBI from pension= Rs.834.00

245200.00

2

Interest from Bank accounts  (total 4 Bank accounts)taken on accrual basis

 SB Rs.5523.54 (Not taken for calculating Gross Total)

FD Rs.22966.00

TDS made = Nil

5523.54

22966.00

3

Demat & Trading Account with Broker X. Mainly Intraday Share Trading (Cash) loss = Rs.8848.60 +Rs.14740.06 Brokerage charges etc.

 Futures Gain = Rs.8103.43- Rs.2380.00  Brokerage charges etc

- 23588.66

5723.43

4

3 in 1 account with ICICI Direct (Opened at the end of Fy 2014-15 very few transactions only)

short Term Capital Loss = 2062.02.

 Speculative gain = 20.01

-2062.02

20.01

 

Gross total

 

Deductions

1

Under 80c. College fees paid for son (Admission fee + Tuition fee)

19300.00