Tax audit in share trading
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 December 2016
Hi please explain when tax audit is applicable in share trading , if trade during the year is above Rs.1 crore tax audit is applicable ?
31 December 2016
For the current year if you opt for 44AD and declare 8% profit or more, tax audit not applicable for up to 2 crore turnover.
If you are not opting 44AD, then tax audit applicable if your turnover exceeds 1 crore.
If you are not opting 44AD, then tax audit applicable if your turnover exceeds 1 crore.
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