One of my client has total turnover of 80 lacs in SHARE TRADING, his actual profit is 3.20 lacs (less than 8%). Is tax audit required in this case, if i dont want to declare 8% profit?
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Tax audit for share trader
Replies (2)
Yes, but let him declare 6% to avoid it......
Sir, I think he will agree to do tax audit, because cost of doing tax audit + accounting will be less than the amount of tax if he opts for 44AD.
Thank you sir for your quick reply. :-)
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