Applicability of tax audit
This query is : Resolved
Rakesh Sharma
(Querist)
26 August 2015
We have short term gain of Rs. 24,50,208/- from the share trading as per details :-
Purchase Cost : 11,08,11,559.00
Sales Value : 11,32,61,767.00
STT is paid.
Should we get our books audited.
Please advise.
Purchase Cost : 11,08,11,559.00
Sales Value : 11,32,61,767.00
STT is paid.
Should we get our books audited.
Please advise.
CA Mohit Bansal
(Expert)
27 August 2015
Mr. Sharma,
As the trading turnover goes above Rs. 1 crore, it is advisable to get your books audited. From the tax planning point of view also, tax audit is advisable as tax on stcg is 15% which comes approx Rs. 3.7L in your case.
bmohit02@gmail.com
As the trading turnover goes above Rs. 1 crore, it is advisable to get your books audited. From the tax planning point of view also, tax audit is advisable as tax on stcg is 15% which comes approx Rs. 3.7L in your case.
bmohit02@gmail.com
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