My simple question is whether a Sub-broker require a Chartered Accountant???
Thanks
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Sub broker tax liabilities
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Yur question is not very clear. can you pls elaborate it little more.
Giridhar ji, a friend of of mine owns a stock broking franchise i.e he is a sub broker and asked me if I require a CA to audit his work? He has a commission income from brokerage. I think this might be sufficient. Thanx in advance
if teh receipts from commission received by teh sub-broker exceeds Rs 1cr during F.Y. 2012-13 then he would be liable to maintain the reqd bks of accts and get them audited from a CA before 30th Sept 2013 beofre filing the return of income.
If it is below Rs 1cr then he can file his reutrn on his own but would be rquired to maintain teh books of account as reqd under the I-T Act.
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