F&o income- tax audit reqd.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2014 Individual earned income from F&O business approx 80 L besides his other incomes (Salary 57L + others 50K) . Will it require tax audit for filing income tax return for the year 2013-14. pls. advise.

Thanks

Nikhil Kaushik

Nikhil Kaushik (Expert)
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24 July 2014 what is the turnover F&O? that would determine the audit applicability. given that income from F&O itself is about 80L, there is a good chance that turnover will exceed Rs 1 cr.