Confusing about two bvusiness

Yes, your books of account must be Audited by CA as per income tax act and require to file ITR 3.

Thank You Sir for your reply, would you pleace advice me that in which base I'll audit my books of a/c's i.e. as per F&O deffinition my T.O. is only 76Lac  but as per sec.44ab my sales is 29cr??????

29 Cr will be taken as sale for tax audit.

Your turnover is the sum of credits & debits, 76 lac. And you are not liable for tax audit if your total income is below taxable limit..

BUT SIR MY F&O PURCHASE IS 30CRORE AND MY F&O SALE IS 29CRORE,TURNOVER AS PER YOU SAID (I.E DEBIT AND CREDIT SETOFF IS 76LAKH). THEN HOW CAN I CLASSIFY WHAT IS PURCHASE ???

THANKS SIR, BUT IN WHICH BASE I PREPARE MY F&O PROFIT AND LOSS STATMENT OR BALANCESHEET FOR AUDIT I.E. SALE 29CR. OR T.O. 76LACK. IF 76LAC THEN WHAT ABOUT PURCHASE??????

The sum of credits and debits is only for determining about tax audit applicability. For profit and loss account, prepare it as per normal accounting process; crediting all gains from settlement and debiting all losses.