Tax payer has equity share income, speculation income and vegetables sale income.
This query is : Resolved
03 September 2025
If tax payer has equity share income, speculation income, and other vegetables sale income, then what would be the turnover limit for audit
03 September 2025
Add up speculative income and business income for turnover limit.
04 September 2025
But... What is the turnover limit for.. audit because taxpayer has share sell turnover more then 1cr plus vegetables and speculation turnover is he liable for the audit?
04 September 2025
Shares turnover is not accounted if it is investment i.e liable for capital gain. Only aggregate turnover of all the businesses is calculated. Tax audit is applicable if the turnover is of Rs. 1 cr or above (assuming cash transactions more than 5%).
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