44ad

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Article

115 Points Joined September 2011

what is the difference between sales, turnover an gross receipts in respect of Section 44AD of Income Tax Act, 1961.

Replies (1)

Student

1309 Points Joined January 2009

Sales turnover is 1 single word.

Any person engaged in business will use the term Sales turnover and

Any person engaged in profession will use the term Gross Receipts.

List of Profession have been notified and can be seen in Sec 44AA of IT act

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