If Intraday Trading transactions turnover is above 2 Crore and loss is 87000/-, It can be treated as STCG or Business loss. And based on turnover tax audit is applicable?
1 Replies
CA Nitu Agarwal
(CA, M.Com)
(266 Points)
Replied 30 July 2011
It is Loss frome speculation business. Tax audit is applicable as well as turnover exceeds Rs.60 Lacs.
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
