Hi am doing bank nifty option trading (buyer) every day in intraday segment so am in learning stage and am doing with very small amount below 10k on evey am may take profit /loss . Here i want to understand few points like just assume that if i earn gross profit 10 lk with in 4 months(31st dec 2020 to 1st april 2021) and turnover is 1cr .
Is it comes under CA audit and what happen if CA audit.?
2.am doing option buying in bank nifty every day (as per market) at a premium price and square off the positions when the premium price hits profits/loss is this procedure comes under any complaince.
Just assume senarios . Before proceed i want a clarity on this, then i started my strategy to earn profits.please help me if you know solution to my query.
Here i want to understand the consequences if CA aduits. Like why CA audits is required if loss/profit is less than 6% than turnover is 1cr. Please explain this point.