Sec 44AB
This query is : Resolved
03 September 2009
Whether for the purpose of sec 44AB, limit of Rs.40 lacs is only for sales or for purchases also?
03 September 2009
it is only for sales..as section 44AB, deals about turnover and does not include purchase, but in case of determining the limit for persons, who are dealing in stock market, difference of purchase and sales in case of futures should be considered.
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