HELLO FRIENDS, CAN ANY BODY TELL ME MY CLIENT DOES THE SHARE TRADING IN DEMAT A/C, THE SALES PROCEEDS GREATER THAN 60 LAKHS BUT HE HAS PROFIT OF RS. 60,000 ONLY. NOW PLS. TELL ME WHETHER AUDIT IS APPLICABLE OR I SIMPLY SHOWS THE SHORT TERM CAPITAL GAIN BECAUSE HIS MAIN BUSINESS IS SHOPKEEPER.
IF I SHOW THE ALL AMOUNT AS CAPITAL GAIN THEN AUDIT IS NOT APPLICABLE EVEN SALES PROCEEDS GREATER THAN 60 LAKHS.
PLS. HELP ME.
THANKS.
CAclubindia
