Tag: income tax audit for traders

If your F&O (derivatives) “turnover” (as computed for tax/audit purpose) exceeds ₹10 crore, a tax-audit under Section 44AB will be required (or will very likely apply depending on your facts). Below I explain why, how turnover for F&O is computed, what the audit requires, deadlines & forms, penalties for non-compliance, and a practical checklist you…