Is Tax Audit Required if there arises a capital gain of 4 crores by selling equity shares? The person was holding the shares in the past few years and now selling them realising capital gains of 4 crores approximately.
Is he required to go through any audit or just pay a flat 10% Long Term Capital Gain Tax? If so, can he directly pay that via the advance tax payment?
The person doesn't own any other income sources and doesn't run any company or business. He is a pure investor and doesn't trade intraday or derivatives.
Read more at: https://www.caclubindia.com/forum/create_message.asp?cat_id=2#
CAclubindia
