whether sales seems to 40 lacs or not for audit U/s 44ab
This query is : Resolved
27 May 2008
sir, i have 1000 shares of satyam computers @rs 500 means total delivery in my account is rs 5 lacs. if i sold 1000 shares at higher rate say 520 and then recover at 500 then total sales in my account is 520000. if same entry repeated means sold at higher rate and recover at low prices then after repeating 8 times my total sales exceeds 40 lacs but my intial totol investments only 5lacs. i have only repeated the entry . whether i falls under sec 44AB for tax audit or not YES MEANS REPURCHASE. sold 1000 shares at higher price and repurchase the same at lower price .
27 May 2008
see ur duplicate query
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