Hi,
I am trading on my demat account. I already filed an income tax return. Presently I am getting an e-mail saying that i need to file an audit report.
please clarify.
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Requirements of tax audit
Replies (2)
Trading in FnO is considered a business as per income tax. Tax audit is required if the turnover is more than 10 crores. Kindly check the same and consult a practising CA nearby for advice.
Can you tell me the trading instrument ( Equity or derivatives) ?
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