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Tax Audit u/s 44AB is require if the Assessee has done Intraday-(Speculative) transaction, Income Tax |
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Tax Audit u/s 44AB is require if the Assessee has done Intraday-(Speculative) transaction |
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Dear Freinds One of my client (who is an Employment in MNC) has carried out Share market transaction and his turn over intra day for the Finacial year 13-14 in equity market Was ₹ 15.50 crore and Net result of the Transaction is ₹ 1.50 lac Profit. Is he liable to get his account audited u/s 44AB...Assessing officee is insisting to impose penalty U/S 271 B... Please advise and give some relevant case laws.... Regards Haresh Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
Sir, provison states Business or Professional turnover as a condition for getting audit done. Whether speculation in shares amounts to business or Professional ? Page: 1 Old Query - New Comments are closed. |
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