27 June 2009
i m doing trading of shares and my turnover is exceed rs.40 lacs. i want to ask if i require to maintain books of accounts and require audit u/s 44AB
27 June 2009
See turnover means the amount of Gross receipt from the era which has the main object or business of the assessee it doesnt include the income of other sources like interest and all..
As far as this case is concerned i m agree wht Anjani said, you need to get your account audited and require to maintained Books of accounts as define under the statue u/s 44AB and 44AA respectively.
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