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Tax Audit

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(Querist)
19 October 2020 In case of speculation Income in Shares,

If sales & Purchase Turnover is more than 5Cr then is TAX Audit applicable because of Intra day transactions ? Assessee has no other income under head PGBP.
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
20 October 2020 I assume you are talking about speculation in equity.
Yes, tax audit applicable as per law.
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Piyush

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Piyush (Querist)
20 October 2020 Yes, Speculation in Equity. Thank you
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