04 June 2014
Dear Expert, My uncle has got a Petrol Pump..He earns Commission on Turnover Basis from Indian Oil. My question is that whether we have to get the accounts audited if the Sales crosses Rs 1 Crore..??
04 June 2014
Whether you are showing Opening and Closing Stock ? . If no, then same policy may be followed and as such you are not required to show the sales and purchases also. Keep the figures in your memorandum accounts only. .
CAclubindia
