TaxTMI 
TaxTMI 
Tax Audit u/s 44AB is require if the Assessee has done Intraday-(Speculative) transaction
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....ax Audit u/s 44AB is require if the Assessee has done Intraday-(Speculative) transaction<br> Query (Issue) Started By: - Haresh Raithatha Dated:- 15-6-2016 Last Reply Date:- 21-6-2016 Income Tax<br>Go....
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....t 1 Reply<br>Income Tax<br>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 marke....
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....t 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.......
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.... Please advise and give some relevant case laws.... Regards Haresh Reply By Ganeshan Kalyani: The Reply: Sir, provison states Business or Professional turnover as a condition for getting audit do....
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....ne. Whether speculation in shares amounts to business or Professional ?<br> Discussion Forum - Knowledge Sharing ....