Audit
This query is : Resolved
11 October 2011
when and how the audit of share market transaction is complusory as per IT Act Section 44AB
11 October 2011
As per my knowledge, in share trading the sum of profit & losses > 40 lakhs then Audit is compulsory. It means 21 lakhs profit + 20 lakkhs loss results audit compulsary.But buying 1 lakh shares 25 times & selling it 25 times if profit is 2 lakhs then it's not required.
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