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FnO trading

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148 Points Joined October 2017
in case of FnO tranding, final result is over all loss turnover is less than 2crores and the person is filling the return 3 that means he is not filling the return under presumptive taxation scheme than also tax audit is compulsory????
or he can filling return of loss normally????
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On 18 July 2018 at 14:06 Report
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SEO Sai Gr. Hosp.
211557 Points Joined July 2016

You may be aware that tax audit  u/s. 44AB of IT act applicable when turnover of business exceeds Rs. 1Cr ...

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On 18 July 2018 at 14:27
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148 Points Joined October 2017
my turnover is 32 lacs only which is less than 1crores.
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On 18 July 2018 at 14:48
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SEO Sai Gr. Hosp.
211557 Points Joined July 2016

In this particular case, if the aggregate income of the assessee exceeds BEL, than tax audit will be applicable.....

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On 18 July 2018 at 15:02
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admin
22 Points Joined July 2018
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On 18 July 2018 at 15:18

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