I have been told by my CA that if my total turnover of stocks is more than 60 Lacs, I have to get quarterly audit done.
Now if anyone buys and sells only 6 stock futures in an year, the total turnover exceeds 60 Lacs. Does that mean he gets eligible for maintaining books of account and get them audited every quarter?
What about a case where profit is less than 8% and turnover is less than 1Cr.
Gowra Ventures Pvt Ltd
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SKAA & Associates
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CAclubindia
