catchwords: Audit of accounts
How TO Calculate Limit Of Turnover In A Person Is Carrying Out Business And Profession?
No, as Mr. P’s gross receipts from the profession are less than Rs. 25/- lakhs. As per Guidance Note on Tax Audit under section 44AB of the Income-tax Act, 1961 issued by
How To Calculate Limit Of Turnover In Case Of F & O Transactions Or Speculative Transactions?
The Guidance Note on Tax Audit under section 44AB of the Income-tax Act, 1961 states that in case of Derivatives, Futurer and options the difference between total favourable and unfavorable is to be considered as turnover for the purpose of deciding the limit under section 44AB of the Act.