Audit in case of speculation loss

TARUN BANSAL (Querist) 23 January 2013 This query is : Resolved
in case of one of my client,there is loss from speculative business. whether such loss is liable for audit u/s 44AB or not?

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ajay sethi (Expert) 23 January 2013
raise your query in CA club India .com

Anirudh (Expert) 23 January 2013
The auditing is required only if the profit or gain of the said business exceeds the threshold figure indicated in respect of each of the business/profession prescribed therein.

Raj Kumar Makkad (Expert) 24 January 2013
I do endorse the views of Anirudh.

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