F&o income- tax audit reqd.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 July 2014
Individual earned income from F&O business approx 80 L besides his other incomes (Salary 57L + others 50K) . Will it require tax audit for filing income tax return for the year 2013-14. pls. advise.
Thanks
Thanks
Nikhil Kaushik
(Expert)
24 July 2014
what is the turnover F&O? that would determine the audit applicability. given that income from F&O itself is about 80L, there is a good chance that turnover will exceed Rs 1 cr.
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