INCOME FROM SHARES
This query is : Resolved
10 March 2008
Respected Collegues,
I )
I have query in case of assessee not being a sub broker/agent any kind is as follows:
What will be the respected taxable head( Business income/Cap.gain)under these circumstances:
1) Income from daily share trading.
2) Income from shares on delivery base
3) Will he be liable for Tax Audit u/s 44AB if he crosses 40 lac turnover in case of daily trading?
4) Will he be liable for Tax Audit u/s 44AB if he crosses 40 lac turnover in case of delivery base share transactions?
II)
Please Reply all 4 answers if assessee is a sub broker.
Thanks in advance
CA Pranesh Agrawal
I )
I have query in case of assessee not being a sub broker/agent any kind is as follows:
What will be the respected taxable head( Business income/Cap.gain)under these circumstances:
1) Income from daily share trading.
2) Income from shares on delivery base
3) Will he be liable for Tax Audit u/s 44AB if he crosses 40 lac turnover in case of daily trading?
4) Will he be liable for Tax Audit u/s 44AB if he crosses 40 lac turnover in case of delivery base share transactions?
II)
Please Reply all 4 answers if assessee is a sub broker.
Thanks in advance
CA Pranesh Agrawal
10 March 2008
1)
1. UNDER THE HEAD BUISNESS
2.INCOME UNDER THE HEAD CAPITAL GAIN
3. NO HE IS NOT LIABLE FOR TAX AUDIT U/S 44AB
4.NO HE IS NOT LIABLE FOR TAX AUDIT U/S 44AB
1. UNDER THE HEAD BUISNESS
2.INCOME UNDER THE HEAD CAPITAL GAIN
3. NO HE IS NOT LIABLE FOR TAX AUDIT U/S 44AB
4.NO HE IS NOT LIABLE FOR TAX AUDIT U/S 44AB
10 March 2008
Dear Saurabh Bhai,
Please also reply for the same in case, if the assessee is a sub broker
Please also reply for the same in case, if the assessee is a sub broker
11 March 2008
1)
1.UNDER THE HEAD PGBP
2.UNDER THE HEAD PGBP
3.NO
4.NO
1.UNDER THE HEAD PGBP
2.UNDER THE HEAD PGBP
3.NO
4.NO
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