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.
2 Replies
Kev Men
(788 Points)
Replied 07 October 2022
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.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 07 October 2022
Can you tell me the trading instrument ( Equity or derivatives) ?
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