Commodities trading and tax audit

is tax audit applicable for commodities trading particulurly gold and silver.
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Replies (3)
Quick Summary
This discussion explores whether commodities trading, including investments in gold and silver, is subject to tax audits. It highlights that tax audits become applicable if your annual turnover exceeds the specified limit under Section 44AB of the Income Tax Act.

People can use commodity trading to diversify their portfolios and at the same time, buy and sell actual commodities such as gold, silver or pulses.
Missing: audit ‎| Must include: audit
If turnover exceed specified limit u/s 44AB.
Mr. Mohan applicable.

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