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Section 44 ad very urgent

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(Querist)
25 July 2012 Hi,

My Query is for calculating profit on presumptive basis under Sec 44 AD turnover and gross receipts will it include Sales Tax or Excise Duty or any other taxes

i.e. 8% of turnover will it include sales tax charged to the customer
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CS ANAND RAVADA

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CS ANAND RAVADA (Expert)
25 July 2012 ABSOLUTELY, IT INCLUDES ALL THE TAXES AND DUTIES. Estimated profit is always computed on gross receipts.
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CA Amit Jaiswal

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CA Amit Jaiswal (Expert)
25 July 2012 It is to be calculated on Gross receipts. So these should be includible.
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Preeti

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Preeti (Querist)
25 July 2012 Thanks a lot

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