Iam a salaried person and invested in short term and long term shares ... in short tem trading, i performed more than 2 crores trnascation but , the capital gain is Rs. 80000/- loss. whether i have to made tax audit for my retruns in FY 2018-19.
Iam a salaried person and invested in short term and long term shares ... in short tem trading, i performed more than 2 crores trnascation but , the capital gain is Rs. 80000/- loss. whether i have to made tax audit for my retruns in FY 2018-19.
Are they intraday transactions or delivery based?
Segregate Intraday and delivery based transactions.......
Delivery based can be assessed u/h capital gains..
While for Intraday transactions, if turnover (positive difference of each settlement) exceed 1 cr (but if less than 2 Cr), and if minimum profit margin declared 6%, no tax audit liability. In all other cases tax audit applicable.
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