14 September 2021
If only business of shares trading (full Time) in all segment (FNO+Intraday+Delivery base trading i.e. Short term) taken as business income, but and if some sell of shares after one year as a different portfolio only that can I take as long term capital gain or loss ?
Second Question is If Turnover in Stock trading business only is 99,50,000/- and profit is less than 6% i.e. 3,95,000/- greater than basic exemption limit which is not chargeable tax and total transaction is digitally electronic mode (100 % ) but in past years never opted section 44AD as presumptive income ,so please know will need tax audit by CA ?
14 September 2021
I confused that is sec. 44ad(4) not attracted means profit is greater than 6% but in this case profit is less than 6% than will tax audit complusary ?
22 September 2021
If Section 44AD(4) w.r.t. sec 44AD(5) gets attracted, the the assessee need to get his books of accounts audited u/s. 44AB(e) of the act.
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