Turnover of Delivery Based Trading covered under Audit

More often than not,the turnover in Delivery Based Trading,crosses the limit of Rs 2 Crores.
Is this turnover in delivery based trading cones under the ambit of 'Audit Requirement ?
Replies (2)
Quick Summary
This discussion clarifies whether turnover from delivery-based trading, especially when exceeding Rs 2 Crores, falls under mandatory audit requirements. It highlights that tax audit may not apply if over 95% of total receipts and payments (including non-trading income) are digital. The conversation also explores if frequent buying and selling of a single company's equity, exceeding Rs 10 lakhs in acquisition value, constitutes a 'High Value Transaction' and its implications for traders.

Even if you have the shares trading business (be it delivery based); but till your total receipts & payments (which include other than these business also) are digital, or say more than 95% by banking channels; in that, case tax audit not applicable for turnover up to 10Crs.

Thanks sir for your guidance.
Kindly also guide that in case of delivery based trading,if I frequently buy and sell the equity of a particular company and thus the sum total of equity acquired of that particular company exceeds Rs 10 lakhs;then would it be treated as a 'High Value Transaction' ?
If yes,then almost all the traders of delivery based equity would come under the preview of' 'High Value Translations' ?

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