U/s 44ab of the Income duty perform, do the hours of daylight traders of shares own to procure audit for turnover above 40 lakhs?
There is an article, relation http://www.moneycontrol.com/india/news/t... which say it is not needed, but my CA say I inevitability to audit.
Answers:
if u are dealing in shares, buying them, hold for some time and after vend them audit is not required. but if u buy and go impossible to tell apart year minus taking transference and ur trun over exceeds 40 lakhs and u trade name a profit audit is required.
In futures and option segment, as in attendance is no confinement of physical shars, an audit is neccessary.
but within both grip one and only when u build profit. .
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Answers:
if u are dealing in shares, buying them, hold for some time and after vend them audit is not required. but if u buy and go impossible to tell apart year minus taking transference and ur trun over exceeds 40 lakhs and u trade name a profit audit is required.
In futures and option segment, as in attendance is no confinement of physical shars, an audit is neccessary.
but within both grip one and only when u build profit. .