18 December 2018
an assessee engaged intraday txns in online. Total intraday sales Rs.30800150. Total loss in intraday txns 147555. Other income Rs.205000. Whether he is liable income tax audit u/s 44AB
18 December 2018
you need to first compute the turnover as per the ICAI guidance note. If the turnover exceeds Rs 1 cr, then tax audit is applicable (unless you are showing presumptive taxation, in which case the turnover upto 2 cr won't attract audit)
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