audit limit of turnover of share trading

27 September 2017

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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9 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160858 Points)
Replied 27 September 2017

U/s. 44AB......... 1 Cr. trading turnover........ exclusive of any investment based transactions........

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RAJA P M ("Do the Right Thing...!!!") (127394 Points)
Replied 27 September 2017

Audit limit is 1cr u/s 44AB...
Exclude investment and some other income....

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Prakash Chauhan (172 Points)
Replied 27 September 2017

for mcx

Prakash Chauhan (172 Points)
Replied 27 September 2017

and if he booked loss in mcx then audit applivable

Prakash Chauhan (172 Points)
Replied 27 September 2017

and if he booked loss in mcx then audit applivable

Prakash Chauhan (172 Points)
Replied 27 September 2017

turnover means sales amount - purchase amount right

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160858 Points)
Replied 27 September 2017

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.....

2 Like

RAJA P M ("Do the Right Thing...!!!") (127394 Points)
Replied 27 September 2017

Originally posted by : Dhirajlal Rambhia
	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.....