Applicability of tax audit
This query is : Resolved
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.
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
