My primary source of income is salary of around Rs. 9 lacs. During FY 2010-'11, my share transaction (all short term) details are:

total purchase transactions: Rs. 72.37 lacs
total sale transactions: Rs. 72.26 lacs

total loss: Rs. 11 thousand


Now, please let me know the following:

1. My own capital was Rs. 60 thousand. Since I transacted on margin (i.e. on borrowed fund from brokerage firm) and there were around 100 transactions (45 purchase + 55 sale), total amounts of purchase & sale transactions both were above Rs. 72 lacs. In view of these details, is audit required for my share transactions?


2. Considering the above (& that 99.9% of my income came from salary), shall I consider the loss of Rs. 11,000 as Short Term Capital Loss? or, it is to be considered as loss from business?


Thanks

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Factory worked in a year for 290 days. In which they have worked for 270 days on double shift basis and for 240 days on triple shift basis. Query: Whether depreciation can be charged on plant and machinery at the rate prescribed in Schedule XIV on Triple shift basis or we have to do pro-rata for working for double and triple shift. If to do pro-rata, pl. give a simple equation.

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CASE:

SALES WITHOUT INCLUDING VAT = 59,00,000
VAT (GROUPED IN CURRENT LAIBILITY) ON SALES = 3,00,000

IS HE LIABLE FOR AUDIT


(FOR LIMIT OF 60 LACS SALES SHOULD BE INCLUSIVE OF VAT OR EXCLUSIVE)?