Audit of share broker

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2012 In the case of a share broker in addition to the Brokerage the sale value of share sold on his personal account should also be taken into account for considering the limit for the purpose Section 44AB. Whether sale value of intraday transaction also to be added or it is to be treated as speculative profit/ loss?

N.J.R

N.J.R (Expert)
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30 March 2012 Dear Sir,

Brokerage Income + Sale of Shares (Personal) + Profit on Share Trading + Loss on Share Trading > Rs. 60 Lacs then Tax Audit applicable.