Tax audit applicability

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SUJITH GUPTHA (Querist)
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24 August 2015 Hi,

If there are more than one crore sales or redemptions made in equity shares and debt instruments,is tax audit applicable to that person.

Thanks

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 August 2015 If the intention was not to hold shares as an 'investment' or trading is done frequently, tax audit applies.

SUJITH GUPTHA

SUJITH GUPTHA (Querist)
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24 August 2015 HI sir,

Yes there are frequent redemptions so is he liable to tax audit as you said.Please quote the relevant section or any link to refer.

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