Audit of share broker
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2012
In the case of a share broker in addition to the Brokerage the sale value of share sold on his personal account should also be taken into account for considering the limit for the purpose Section 44AB. Whether sale value of intraday transaction also to be added or it is to be treated as speculative profit/ loss?
30 March 2012
Dear Sir,
Brokerage Income + Sale of Shares (Personal) + Profit on Share Trading + Loss on Share Trading > Rs. 60 Lacs then Tax Audit applicable.
Brokerage Income + Sale of Shares (Personal) + Profit on Share Trading + Loss on Share Trading > Rs. 60 Lacs then Tax Audit applicable.
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