Share t.o
This query is : Open
19 August 2011
respected experts,
iam doing share trading in cash segment (both delivery & intraday), which T.O has exceeded 3crores in 2011-12 A.Y
(my net profit from share trading is 12,000/- only)and normal business T.O is 14 lakhs for the year.
should i do 44AB AUDIT? pls guide.
iam doing share trading in cash segment (both delivery & intraday), which T.O has exceeded 3crores in 2011-12 A.Y
(my net profit from share trading is 12,000/- only)and normal business T.O is 14 lakhs for the year.
should i do 44AB AUDIT? pls guide.
CA PARAS BAFNA
(Expert)
19 August 2011
You first decide the sales on Delivery Basis in your share trading business.
In case this sale+ intrady profit+intraday loss exceeds 60.00 lacs you must get your account audited U/s 44AB.
In case this sale+ intrady profit+intraday loss exceeds 60.00 lacs you must get your account audited U/s 44AB.
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