44ad audit
This query is : Resolved
Pawan Singhal
(Querist)
28 June 2011
assesse done share transaction and incurred a loss of Rs.200000 on 35 lakh turn over of share for f.y 2010-11. his other saurces income is 600000. whether he is req to audit as per section 44ad becaude he is declaring loss on share transaction not declaring 8 % profit of 35 lakh.
CA MANOJ GUPTA
(Expert)
28 June 2011
IN THIS CASE TAX AUDIT WILL BE NECESSARY BECAUSE TOTAL INCOME WILL EXCEED MAX AMT NOT CHARGEABLE TO TAX
CA MANOJ GUPTA
JODHPUR
09828510543
gm2104@gmail.com
CA MANOJ GUPTA
JODHPUR
09828510543
gm2104@gmail.com
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