Tax Audit for above 60 lakh Turnover
This query is : Open
22 October 2010
Dear Sir,
How to Calculate 60 Lakh turnover limit for tax audit under income tax who buy & sale shares ?
A buy 100 Shares @ 100 = Rs. 10,000 & sale 100 Shares @ 200 = Rs. 20,000. what will be turnover a) Rs. 10000/-(b) Rs. 20000/-& (c) Rs.30000/-.
Mr. A is doing cash market i.e. Delivery Base Buy & Sale & very frequently square off the position on the same day . For Calculation of Turnover Delivery & Trading taken together or what. Pls explain in detail.
How to Calculate 60 Lakh turnover limit for tax audit under income tax who buy & sale shares ?
A buy 100 Shares @ 100 = Rs. 10,000 & sale 100 Shares @ 200 = Rs. 20,000. what will be turnover a) Rs. 10000/-(b) Rs. 20000/-& (c) Rs.30000/-.
Mr. A is doing cash market i.e. Delivery Base Buy & Sale & very frequently square off the position on the same day . For Calculation of Turnover Delivery & Trading taken together or what. Pls explain in detail.
22 October 2010
Rs. 20000
01 November 2010
Thanks for your prompt reply.
Sir can u clarify whether for the purpose of computing turnover Delivery Base buying & Intra Day trade can be merged together. or not
Thanks in advance.
Sir can u clarify whether for the purpose of computing turnover Delivery Base buying & Intra Day trade can be merged together. or not
Thanks in advance.
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