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civil contractor turnover
If a cotractor receive a contract from govt. to built a road. so how the turnover is calculated (is contract amount is turnover). if total contract amount for a FY Rs. 1.85 crore. is he is liable for tax audit. In which form his ITR is submitted.
Replies (4)
" If a cotractor receive a contract from govt. to built a road. so how the turnover is calculated"
Percentage of total work completed during the end of financial year, may be as cerified by an architect, or as per bills raised.
" if total contract amount for a FY Rs. 1.85 crore. is he is liable for tax audit. In which form his ITR is submitted."
No requirement of tax audit if income asseessed u/s. 44AD, can file form 4 for AY 2017-18
than profit should be minimum 6%
you should check what % of work has been completed in the year. and bill to government for that amount
tax audit - no
itr 4
tax audit - no
itr 4
Thanks Sir
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