Plz Inform what would be the Treatment if a person do Intra-day trading in the stock market & his Aggregate Annual Turnover crosses 40 lakhs.Is he liable for Tax Audit U/s 44AB?
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Is profit derived from intra-day subjected to audit
Replies (6)
Yes
sunil
YES OF COURSE
yes of course as it is from business but , for limit 40 lakh u have to consider profit nor transaction value (share value) as there is no transfer so only profit will be treated as revenue........................hope u r doubt is clear
profit and loss should be added to see 40 lacs
ya agree with above loss will also be considereed
yes. The total sales for the day to be comsidered.
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