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TAX AUDIT

This query is : Resolved 
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(Querist)
08 June 2010 WHETHER STOKE BROKER IS LIBLE FOR TAX AUDIT IF HIS TURNOVER EXCEEDS 40 LACS IN FINANCIAL YEAR.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
08 June 2010 Kindly define what do you mean by turnover?

If you are refering to brokerage turnover then yes.

If you are refering to turnover on proprietory trades then yes.

If the above is no and the turnover is on behalf of client then no.

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