Tax Audit
This query is : Resolved
Quick Summary
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.
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.
CA Ayush Agarwal
(Expert)
20 October 2020
I assume you are talking about speculation in equity.
Yes, tax audit applicable as per law.
Yes, tax audit applicable as per law.
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