Tax Audit
This query is : Resolved
02 August 2009
Hi
Kindly answer me
At what point of time Tax Audit is applicable for share trading? How is the ceiling limit of 40lakhs is calculated
1.on gross sales of share trading
2.on net proceeds?
3.or on margin basis?
Kindly answer me
At what point of time Tax Audit is applicable for share trading? How is the ceiling limit of 40lakhs is calculated
1.on gross sales of share trading
2.on net proceeds?
3.or on margin basis?
Aditya Maheshwari
(Expert)
02 August 2009
In view of some tribunal decisions and also institue clarification turnover for profit from share trading and profits from F & O should be taken as profit + loss
CA.Tarun Maheshwari
(Expert)
02 August 2009
I agree with Mr. Aditya Maheshwari.
Manmohan ACA, CS
(Expert)
03 August 2009
agree
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