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purchase counts in audit

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(Querist)
11 June 2010 One of my friend have trading business. His purchase is 42 lakhs, sales is 36 lakhs and closing stock is 8 lakhs. Will it be covered under audit.
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
11 June 2010 No. turnover should exceed 40 lacs till assessment Year 2010-11 and thereafter 60 lacs
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Vikas

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Vikas (Querist)
11 June 2010 Does purchase don't count in turnover



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Rahul Gupta

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Rahul Gupta (Expert)
11 June 2010 No purchase is not counted in turnover.

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