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share market

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(Querist)
06 September 2009 if sales is made in case of share during the year above Rs.40 lacs ,is it necessary to get accounts audited ? please send me message . it is urgent.
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Monark

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Monark (Expert)
06 September 2009 If the person has business of buying and selling shares then yes. (Delivery based- assumed)
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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
06 September 2009 Pls. give detail case law. In above condition yes audit is compulsory but in the same sales if u include intra day sales also then it may be possible that audit is not require .
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
06 September 2009 turnover in case of intraday trading will be profit + loss for the year and in case of delivery sales is turnover.
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