19 July 2010
Dear Sir, The debit total of Speculation business is Rs.38 lakhs and credit total of credit side is Rs.42 lakhs. Does audit required for this account ? What is the crieteria of audit for specualtion business? Your answer is highly oblidged.
19 July 2010
In the IT Act there is audit for business, whether it's speculation or other. So for Audit U have to seen the Turnover not the total of any account side.....
CAclubindia
