Itr

RAJ KUMAR (FINANCE MANAGER) (1393 Points)

08 March 2013  

HELLO FRIENDS, CAN ANY BODY TELL ME MY CLIENT DOES THE SHARE TRADING IN DEMAT A/C, THE SALES PROCEEDS GREATER THAN 60 LAKHS BUT HE HAS PROFIT OF RS. 60,000 ONLY. NOW PLS. TELL ME WHETHER AUDIT IS APPLICABLE OR I SIMPLY SHOWS THE SHORT TERM CAPITAL GAIN BECAUSE HIS MAIN BUSINESS IS SHOPKEEPER.

IF I SHOW THE ALL AMOUNT AS CAPITAL GAIN THEN AUDIT IS NOT APPLICABLE EVEN SALES PROCEEDS GREATER THAN 60 LAKHS.

PLS. HELP ME.

THANKS.