Tax Audit?

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Eng

28 Points Posted on 24 July 2009

If someone is Salaried Employee and has turnover in "Cash Margin"/"Intra Day" not in F&O more than 40L then does he has to go for Tax Audit?

Which ITR form needs to be filled in which ever case?

There is a Total Loss of 40k which needs to be carry fwd.

Turnover Consider here: Total Shares Bought in an year + Total Sold

Exp:

Infosys:

100 bought at 1900 = 1,90,000

and

Same day Sold at 1910 = 1,91,000

Turnover = 3,81,000

Replies (1)

Job

1534 Points Posted on 24 July 2009

yes.. u r rite... in case of intraday/cash margin.... evenif turnover exceed 40lacs... tax audit is not required....

regarding ITR form then u r required 2 use ITR-2

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