Sarvesh Kumar Singh (Student CA Final (Articled Asst.)) (170 Points)
22 August 2009A person who purchases & sales shares and his total turnover in a year is more than 1 crore. Is he require to get his accounts audited u/s 44AB ?
CA. Megha Topiwala
(Job)
(1534 Points)
Replied 22 August 2009
If it is on delivery basis then it is required..... n not in case of intraday transaction....
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 22 August 2009
If delivery turnover then liable if intraday and profit + loss crosses Rs. 40 lakhs then liable.
CAclubindia
