Tax Audir for traders in market

Dear Mr. Sagar

Yes it will be covered by tax audit subject to if  the Net profit / Net loss exceed Rs.40 Lacs .

Thanx & Regards 

Neeraj Taneja 

if you are broker then your books of accounts U/s  44ab of income tax act will be audited.............other wise not

hi

i think when the turnover exceeds 40L. tax audit should be required irrespective of profits or loss. as it would be considered business of the regular basis

Regards

Sagar