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Tax Audit in case of Future & Options

This query is : Resolved 

03 April 2008 Sir,
When the assessee is liable to Tax Audit u/s 44AB. It depends on Turnover or Profit Earned durig the year. Profit should be gross or net after adjustment of losses.

03 April 2008 Turnover, Sales or gross receipts as the case may be is the criterion.



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