14 September 2012
Dear Sir, How to treat with credit notes in Itr 4? Can I add them with sales or I have to place them separately in part P&L of itr 4 as indirect income.
14 September 2012
Actually, these are incentive credit notes and received on account of attaining sale target and if I place it in the credit side of p&l a/c, net profit comes to 3%, whereas Gross profit is 1.25%.
How is the idea, if I place credit note just beneath the sales in trading a/c.
CAclubindia
