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44 ab limit

This query is : Resolved 
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(Querist)
29 July 2012 Sir / Madam

Purchase amount Rs.65 lac is liable to Tax Audit U/s 44 AB for the assessment year 2012-13
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
29 July 2012 After the insertion of Section 44AD,
the word turnover in Income Tax Act has got a clearer meaning and that does not reach up to purchases.
.
Sales is to be considered as turnover.

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CA mahesh birla

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CA mahesh birla (Expert)
29 July 2012 i agree with CA Paras Bafna
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SANYAM ARORA

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SANYAM ARORA (Expert)
29 July 2012 Agree with the reply
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CA Salman Mansoori

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CA Salman Mansoori (Expert)
29 July 2012 Totally agreed with Mr. Bafna
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