HELLO... MY QUESTION IS
:If a person is engaged in share trading and turnover of delivery based buying & selling is less than 60 lacs but speculation business in share trading where intra-day sale purchase is effected but delivery is not taken exceeds 60 lacs, is tax audit applicable ? IF YES PLEASE QUOTE CITATION,IF NO PLEASE QUOTE CITATION.THANX...
Yes. Tax Audit is applicable if turnover from speculation business exceeds 60 Lakhs..
Speculative business is also covered under same section 44AB...
Shaswat initial support private limited
Ahmedabad
CS
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SMJ global advisors pvt ltd
New Delhi
B.Com
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CAclubindia
