Audit Limit
This query is : Resolved
Sujal Patel
(Querist)
31 May 2011
I am trading in National Spot Exchange for commodities, where my total value of the product is parked for the period i trade, unless like only margin is invested in F&O for the trade. But i am not actually taking the delivery of the product and henceforth not liable for VAT taxes. Then for my audit limit, is the total volume added to my limit or as in F&O, only the profit or loss is added to come to trading volume for audit purpose.
CA MANOJ GUPTA
(Expert)
31 May 2011
PROFIT OR LOSS IGNORING THE SIGN WILL BE ADDED SO AS TO ARRIVE AT THE LIMIT OF 60 LAKHS
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
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