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Tax audit

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(Querist)
03 July 2019 Turnover means include in closing stock r not. i want clear picture of turnover. some company purchase above 1 cr but sales 15lakhs balance held as stock in trade. its applicable for tax audit
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
03 July 2019 For income tax tax audit, turnover means sales/ services turnover only. Closing
stock need not consider.

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