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Section 44AB of Income Tax Act 1961

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(Querist)
18 June 2011 Dear All

Please tell me the meaning of Turnover and Gross Receipts under section 44AB of Income Tax Act 1961 to determine whether the tax audit is applicable or not.

While determining the turnover whether the purchase turnover is considered or not??

Thanking you
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
18 June 2011 Turnover means gross sales and has no relation with purchase.
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Deepak

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Deepak (Querist)
18 June 2011 Respected Sir

Thanks for your answer.
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