Section 44 ad very urgent
This query is : Resolved
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
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
25 July 2012
ABSOLUTELY, IT INCLUDES ALL THE TAXES AND DUTIES. Estimated profit is always computed on gross receipts.
25 July 2012
It is to be calculated on Gross receipts. So these should be includible.
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