purchase counts in audit
This query is : Resolved
11 June 2010
One of my friend have trading business. His purchase is 42 lakhs, sales is 36 lakhs and closing stock is 8 lakhs. Will it be covered under audit.
11 June 2010
No. turnover should exceed 40 lacs till assessment Year 2010-11 and thereafter 60 lacs
11 June 2010
No purchase is not counted in turnover.
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