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
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Transporter Declaration form
- Copyright software
- Multiple trade mark
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- LC charges in relation to Asset purchased should be Capitalised ?
- Clarification on TDS Applicability
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
