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All about 44ab

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(Querist)
17 July 2012 As per Section 44AB , whether "Turnover" includes purchase also...& if purchase is more than 60lacs then audit will applicable(sale is less then 60lacs)?
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CA mahesh birla

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CA mahesh birla (Expert)
17 July 2012 For sec. 44AB, Turnover included only Sales Turnover, so only sales above limit will count.
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CA ARIHANT JAIN

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CA ARIHANT JAIN (Expert)
17 July 2012 turnover always means to sales not for purchase.




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