whether comes under sec 44AB for tax audit
This query is : Resolved
26 May 2008
sir, i have 1000 shares of satyam computers @rs 500 means total delivery in my account is rs 5 lacs. if i sold 1000 shares at higher rate say 520 and then recover at 500 then total sales in my account is 520000. if same entry repeated means sold at higher rate and recover at low prices then after repeating 8 times my total sales exceeds 40 lacs but my intial totol investments only 5lacs. i have only repeated the entry . whether i falls under sec 44AB for tax audit or not
27 May 2008
What do you mean by sold at higher rate and recover at lower price? Are you saying re purchase? Are you taking physical delivery?Please clarify.
27 May 2008
YES MEANS REPURCHASE. YES TAKING PHYSICAL DELIVERY.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- USE THE BANK ACCOUNT OF WIFE
- If ITC not claimed is there any issue
- Benefit of employee
- Place of supply or billing addres which applicable for tax
- Deemed rent on house property
- CAPITAL GAIN IN NEW REGIM
- Profit From trading in MCX Taxable income Rate?
- Capital Gain Tax on Foreign Citizen
- REBATE UNDER SECTION 54 FOR SHORT TERM CAPITAL GAIN
- SALE OF RESIDENTIAL HOUSE PROPERTY PURCHASE AN AGRICULTURAL LAND
- Special resolution for sale of property by pvt ltd co.and its subsidiary
- GST Credit Reversal for change in GST Rate.
- Rectification of Mistake in AOC4
- GST on Medical insurance preimum
- GST under RCM paid at which rate
- TDS on repair charges done on exported Goods in Korea
- Form 26AS dosnot contain the amount of TDS/TCS with respect o TAN mentioned in scheule TDS 1/TDS 2/
- Refund of VAT ITC due to Evaporation loss.
- ITC on IGST
- TDS on Sale of Properties
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert04 February 2025
CAclubindia
