Tax audit under section 44ab
This query is : Resolved
Akshay Shah
(Querist)
21 July 2019
I did some intraday equity trading, F&O intraday trading and F&O delivery trading. The intraday turnover is Rs.13860.40 and realised profit is Rs.9101.50.
The combined F&O turnover (scipwise calculation) is Rs. 186143.75 and combined realised profit is -34982.50 (LOSS).
Do I have to get tax audit under section 44ab since my profit is less than 6% of the turnover (since it is loss)?
The combined F&O turnover (scipwise calculation) is Rs. 186143.75 and combined realised profit is -34982.50 (LOSS).
Do I have to get tax audit under section 44ab since my profit is less than 6% of the turnover (since it is loss)?
31 May 2020
Tax Audit is not required in your case.
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