What is the criteria for Tax audit for persons trading in derivatives? For eg. should the turnover exceed Rs.40 lacs or the total of profit and loss exceed Rs.40 lacs.
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Tax audit for persons trading in derivatives
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ITS THE TURNOVER WHICH ATTARCTS THE LIABILITY OF TAX AUDIT NOT THE PROFIT OR LOSS.
trading in derivatives is a business so if turnover is more then 40lack then tax audit is must done
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