29 September 2008
I have speculation Transactions during the year. From turnover of Rs. 60 lacs i have profit of 40.01 lacs and from yurnover of 20 lacs i have booked loss of 2 lac. Whether tax audit u/s 44AB is aaplicable. to see the applicability should we see the overall turnover or profit. Whether the transactions of loss and profit can be set off against each other
CAclubindia
