dear sir
kindly inform me what is the limit of turnover of share trading income or loss like delivery , f and o , mcx , turnover for tax audit
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audit limit of turnover of share trading
Replies (9)
U/s. 44AB......... 1 Cr. trading turnover........ exclusive of any investment based transactions........
Audit limit is 1cr u/s 44AB...
Exclude investment and some other income....
Exclude investment and some other income....
for mcx
and if he booked loss in mcx then audit applivable
and if he booked loss in mcx then audit applivable
turnover means sales amount - purchase amount right
For F&O or intraday (without delivery) the positive difference in value
For delivery based...... just sell value......
For loss booked .......... audit applicable in case of aggregate taxable income above basic exemption limit.....
| Originally posted by : Dhirajlal Rambhia | ||
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For F&O or intraday (without delivery) the positive difference in value For delivery based...... just sell value...... For loss booked .......... audit applicable in case of aggregate taxable income above basic exemption limit..... |
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I fully Agreed to My Dear Dhirajlal Sir.,
Thank you for the Exact Reply SIR...
Agreed with Dhirajlal Rambhia Sir.....
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