Audit of F&O Transactions - Section 44AA & 44AB

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    KRISHNAKMS New Member

    I had done Shares Futures trading in the last Financial Year and incurred loss only.

    The Total volume of trading done is more than 8 Crores and Loss suffered is 11 lakhs.

    Am I liable for audit under section 44 AB?

    please explain.
  2. Karan Batra

    Karan Batra Well-Known Member

  3. Prabal

    Prabal New Member

    yes you are liable....turnover of more than 40 lakhs irrespective of losses....regards
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