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Audit

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11 October 2011 when and how the audit of share market transaction is complusory as per IT Act Section 44AB
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CS Divya Sorayan

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CS Divya Sorayan (Expert)
11 October 2011 As per my knowledge, in share trading the sum of profit & losses > 40 lakhs then Audit is compulsory. It means 21 lakhs profit + 20 lakkhs loss results audit compulsary.But buying 1 lakh shares 25 times & selling it 25 times if profit is 2 lakhs then it's not required.
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