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
CAclubindia
