44AD presumptive calculation
Ajnas (Student) (844 Points)
17 June 2020
44AD "turnover" include gst or not?
4 Replies
prasad Nilugal
(3914 Points)
Replied 17 June 2020
No definition of Turnover in Income Tax act 1961 like in GST act
Ajnas
(Student)
(844 Points)
Replied 17 June 2020
That means regular scheme or compostion scheme of GST is included for calculating the presumptive income?
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 20 June 2020
GST is a liability to be paid to govt and it is a balance sheet figure.
Turnover doesn't include the GST
Turnover doesn't include the GST
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