sec 44AA and 44AB
This query is : Resolved
27 June 2009
i m doing trading of shares and my turnover is exceed rs.40 lacs.
i want to ask if i require to maintain books of accounts and require audit u/s 44AB
thank you
i want to ask if i require to maintain books of accounts and require audit u/s 44AB
thank you
27 June 2009
YES YOU NEED TO GET YOUR ACCOUNTS AUDITED
27 June 2009
but what the defination of turnover in case of share trading
27 June 2009
See turnover means the amount of Gross receipt from the era which has the main object or business of the assessee it doesnt include the income of other sources like interest and all..
As far as this case is concerned i m agree wht Anjani said, you need to get your account audited and require to maintained Books of accounts as define under the statue u/s 44AB and 44AA respectively.
As far as this case is concerned i m agree wht Anjani said, you need to get your account audited and require to maintained Books of accounts as define under the statue u/s 44AB and 44AA respectively.
19 September 2013
no not require
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Free lancer income
- GST ON DAMAGED GOODS
- Specified Profession
- LTCG for Assmt year 26-27
- Tax liability on income of freelancer
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
