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Section 44ad

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15 July 2013 Sir under section 44AD presumptive taxation @8% on Gross Turnover...what is the meaning of Gross Turnover does it include Tax also for eg VAT/Service Tax charged by the Assesses?

Thank you in Advance.
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Anil Sankar V

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Anil Sankar V (Expert)
15 July 2013 it does not include, because these can be set off(only if claimed).if not claimed shall be included gross turn over.

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