Every month I am trading of exempted goods (Agricultural)..
Every month I am filling both return (Form 1 and Form 3 B)...
what is the next step?
Simple , If I go to an Auditor what he will ask?
Example for this year trading..
Total purchase 1000
other Direct expense 150
sales 500 (purchase value 300)
stock 700
In a year I purchased goods for 1000 out of which I sold 300 units for 500
balance stock 700
profit 50 (200-Direct exp 150)
CAclubindia
