Section 44AB
This query is : Resolved
10 August 2009
Whether for the purpose of Section 44AB gross receipts from profession will be receipts including service tax or excluding service tax?
10 August 2009
excluding servict tax amount
10 August 2009
As the guidance note of our Institute, it depends on the regularly employeed accounting system by the assessee. If you have maintained seprate account for service tax then it will not be included in turnover otherwise it will be included for the purpose of turnover u/s. 44AB.
10 August 2009
it will depending upon the method of accounting employed in client books, generally it is including servicetax amount because it is forming part of the gross receipts
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