Lila (Job) (490 Points)
13 March 2020I have intra-day equity trading loss of Rs. 75000. The sale value of such transactions is 2.5 Cr. My income is only from these tradings and hence GTI is less than 2.5 lacs. Do I need to get tax audit done in case 1) I want to carry forward my loss 2) Do not want to carry forward my loss.
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 14 March 2020
In case of Trading
Turnover shall be ( sales value - Purchase Value ) > Rs. 100 Lakhs then TAX Audit is required U/S 44AB
CAclubindia
