When stock market trades need to do tax audit
Synopsis Stock market traders, especially those involved in intraday and F&O trading without a registered business, need to understand tax audit rules. Income from these
Synopsis Stock market traders, especially those involved in intraday and F&O trading without a registered business, need to understand tax audit rules. Income from these activities is typically classified as speculative business income. Turnover calculation, based on the aggregate of positive and negative differences, determines audit applicability, generally requiring an audit if it exceeds Rs 10 crore for banking channel transactions.
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