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%).
20 September 2025
Good Luck..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- TDS ON CASH WITHDRAWALS...
- Query regarding TDS on EPFO Higher Pension Arrears*
- Bank accounts of Non resident
- ITR Filing Requirement for Partnership Firm Registered but Business Not Commenced
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- Error whiling application of GST REFUND (ANNEXURE B)
- While filing GSTR9 accountant couldn't entered the ITC values in Table 6, in 9C it is not accepting
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
