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 .....

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..... 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 .....

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..... 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 done. Whethe .....

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..... r speculation in shares amounts to business or Professional ? - Tax Audit u/s 44AB is require if the Assessee has done Intraday-(Speculative) transaction - Query Started By: - Haresh Raithatha Date .....

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..... d:- 15-6-2016 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxm .....

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..... anagementindia.com - TMI - TaxTMI - TMITax .....

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