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Definition of turnover

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(Querist)
31 August 2012 if a company purchases land worth rs 1.40 crore for trading ans sold land worth Rs 20 lakhs only, will that company be liable for tax audit? kindly help me out
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
31 August 2012 Check Sale Only.

Since Not Exceed 60 Lacs No Tax Audit
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Chinay Solanki

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Chinay Solanki (Querist)
31 August 2012 are u sure... i have judgement regarding the same
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
31 August 2012 Yes, Sure, Forward Me Judgement on ayushagrawal@rediffmail.com
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Chinay Solanki

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Chinay Solanki (Querist)
31 August 2012 http://finance.dir.groups.yahoo.com/group/ICAI_CIRC_MEERUT_CA/message/26198

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