11 June 2013
WHETHER VOLUME OF SALES TRANSACTION PUT IN THROUGH COMMODITY TRADING HAS TO BE TAKEN FOR 44AB AUDIT. ELSE WHAT IS POSITION OF COMMODITY TRADING FOR INVOKING AUDIT U/S 44AB
11 June 2013
In case you are covered under sec.44AB based on turnover then need to do tax audit. incase your turnover limit is less than the turnover limit u/s.44AB, then you can opt sec.44AD and declare 8% of turnover or gross receipt as profit then no need to get audit of books,
If you want to claim loss or lower than 8% of profit u/s.44AD then need to get audit of the books
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