Shares daily trading (forward trading)
This query is : Resolved
27 July 2012
Dear Members
An Assessee doing Share Farward Trading during the whole Fy-2011-12 He was Purchased and sold shares nearly 5 Crores at this situation He is Liable to get Audit his account u/s 44AB or Shaort Term Capital Gain and Speculation Business
He was Doing 5 Crores Purchase and Sales for the FY-2011-2012 and he is also loss Rs. 5 Lakhs
1.) 44AB Applicable
2.) Shaortterm Capital Gain/Loss
3.) Speculation Business Profit/Loss
Please tell which is applicale to him
Thanking you
An Assessee doing Share Farward Trading during the whole Fy-2011-12 He was Purchased and sold shares nearly 5 Crores at this situation He is Liable to get Audit his account u/s 44AB or Shaort Term Capital Gain and Speculation Business
He was Doing 5 Crores Purchase and Sales for the FY-2011-2012 and he is also loss Rs. 5 Lakhs
1.) 44AB Applicable
2.) Shaortterm Capital Gain/Loss
3.) Speculation Business Profit/Loss
Please tell which is applicale to him
Thanking you
27 July 2012
If the net value... MOD value as is called by the mathematitians....exceeds 60 Lakh, then tax audit is applicable
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