Comment on Notice under Section 139(9)? - Possible reason
commented on
27 Sep 2014, 09:19 AM
Intraday trading in equity is considered speculative and also as a business. If this 2lks is your only income, there is no need of getting audited as you don’t fall under any tax slabs. But if you have other income (salary/business) that will need to get added to it and if either turnover is over Rs 1 crore or if your income is less than 8% of your turnover, you will need an audit.