Tax Audit

This query is : Resolved 

02 August 2009 Hi

Kindly answer me
At what point of time Tax Audit is applicable for share trading? How is the ceiling limit of 40lakhs is calculated
1.on gross sales of share trading
2.on net proceeds?
3.or on margin basis?

02 August 2009 In view of some tribunal decisions and also institue clarification turnover for profit from share trading and profits from F & O should be taken as profit + loss

02 August 2009 for share trading, gross amount is considered.


02 August 2009 I agree with Mr. Aditya Maheshwari.

03 August 2009 agree



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