While determining the threshold limit for the applicability of Sec. 44AB, should the profit from Commodity Exchange & Future & Options should also be considered in case of Individual?
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Sec 44ab
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We do not consider the profit for applicability of tax audit u/s 44AB, but the turnover is being conisdered i.e sale or purchase made.
If the sale from commodity exange exceeds the 1cr mark then tax audit is applicable.
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