Audit in case of Business

Pratik K (Student) (3406 Points)

16 July 2008  

If an Assessee is engaged in two business out of which one is speculative business as per sec28 explanation 2 and another is normal trading business.

His total turnover for the A.Y.2008-09 is Rs.25lacs and Rs.32lacs respectively.

Is he liable to get his account audited?

Pls explain.