Audit limit for future and option share trading

CA Hardik Bunha (self) (2121 Points)

15 November 2011

Please provide me audit limit for future and option trading. Please Please provide circulat or any file u have.

Thanks

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3 Replies

pahuja (C.A Final Student ) (472 Points)
Replied 15 November 2011

Hi Hardik

In case of Income earned through Trading in future and option exceeds the limit prescribed u/s 44AB

i.e Rs. 60 Lakhs. The Audit is got compulsory.

In your case if limit of 60 Lakhs got exceed the audit will become compulsory accordingaly.

Thanks and Regards

Suraj Pahuja

valji (Accounts manager-MBA) (2150 Points)
Replied 15 November 2011

agreee with above

CA Bhoopesh Gupta (Chartered Accountant) (66 Points)
Replied 23 November 2011

Originally posted by : pahuja
	Hi Hardik In case of Income earned through Trading in future and option exceeds the limit prescribed u/s 44AB i.e Rs. 60 Lakhs. The Audit is got compulsory. In your case if limit of 60 Lakhs got exceed the audit will become compulsory accordingaly. Thanks and Regards Suraj Pahuja