27 July 2016
SIR, I ONE OF MY FRIEND DOING THE BUSINESS OF WHOLESALE (CONFICATIONARY) AND HIS TOTAL SALE WAS 86.50 LAC, VAT(RECOVER) 10.37 LAC WHILE PURCHASE 80.37 LAC VAT (PAID) 9.89 LAC.(AS PER TIN NO.RETURN) HE GOT PROFIT OF RS 4.80 LAC APPROXIMATELY NOW, MY QUERY IS IT REQUIRED TO AUDIT (US 44AB)?