tax audit - share trading business

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tushar (Querist)
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28 December 2010 Sir, plz tell me,

when tax audit required in share trading business (intraday, delivery and f&o).
& if total sells in intraday+delivery is above 60 lk ,not in f&o, then how to calculate total turnover.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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28 December 2010 Profit + loss of F & O and intra day + delivery sales is turnover.

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tushar

tushar (Querist)
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28 December 2010 sir,
In intraday equity sales is turnover...?

as per other query,
If I got 10k profit, 4k loss on the same day on two transactions, While calculating for tax audit purpose, what the amount should be taken for turnover? Is it14k or 6k?
07 November 2010
ans. 14k
I have little confusion plz solve this. thanks...

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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28 December 2010 generally taken as 6k and u can also take that only though actually it should be taken as 14k.

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