Head of income regarding

PGBP................ business income

Thank you all for your kindly reply. One more doudt for me, he is doing transactions above Rs. 6 crores (Sell & buy)  Is it tax audit u/s 44AB? 

In this case, since the transactions in shares are non-delivery based, it is only the net of the sales and purchases that is to be treated as turnover. Tax audit under Section 44AB would be required only if the turnover so computed exceeds Rs 100 lakh. You may refer to the decision of the Mumbai Bench of the Tribunal in the Babu Lal Enterprises vs ACIT (ITA NO.6031/MUM/1996) case.