what is the audit limit for speculative share transaction and delivery based share transaction for A.Y. 2012-2013 i.e for financial year 2011-2012?
honey agarwalla (student) (24 Points)
12 May 2012what is the audit limit for speculative share transaction and delivery based share transaction for A.Y. 2012-2013 i.e for financial year 2011-2012?
Chetan Dilipkumar Agrawal
(Main)
(26 Points)
Replied 12 May 2012
The audit limit is Rs. 60 lacs for both.
But in case of speculative, add income and loss. If the summation of both exceeds the limit, then only it will be liable to do audit.
...Chetan
Pucca Idiott
(wannabe...)
(148 Points)
Replied 25 May 2012
if my income from speculative is 45 lacs and my loss is 20lacs am i liable to audit ?
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