banner_ad

sec 44AA and 44AB

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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
Profile Image

C A Anjani Kumar mundhra

Profile Image

C A Anjani Kumar mundhra (Expert)
27 June 2009 YES YOU NEED TO GET YOUR ACCOUNTS AUDITED
Profile Image

CA.MANOJ LAMBA

Profile Image

CA.MANOJ LAMBA (Expert)
27 June 2009 but what the defination of turnover in case of share trading
Profile Image

Sanjeev Jain

Profile Image

Sanjeev Jain (Expert)
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.
Profile Image

ACS Gaurav Jain

Profile Image

ACS Gaurav Jain (Expert)
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


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details