EASYOFFICE
EASYOFFICE

Tax audit in case of f & o trading

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
11 January 2018 Presently tax audit limit is 2 crore but if profit is less than 8% of turnover then tax audit is applicable even if turnover is less than 2 crore.
Is this rule applicable for F & O transaction?
If Yes then how to calculate 8% profit & turnover.
If no is there is exception or special rule for F & O transaction.
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
12 January 2018 Yes this rule applicable to f&o transaction. You have to calculate 8% profit on aggregate of profit and loss (turnover).

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links