HELLO FRIENDS, MY CLIENT HAS RECEIVED A CERTIFICATE FROM THE SOCIETY THAT HE HAS SUPPLIED MILK OF RS. 150000
NOW WHETHER THIS IS HIS INCOME OR WE HAVE TO DEDUCT THE EXPENDITURE AND NET INCOME TO BE SHOWN .
PLS TELL ME.
RAJ KUMAR (FINANCE MANAGER) (1393 Points)
22 March 2010HELLO FRIENDS, MY CLIENT HAS RECEIVED A CERTIFICATE FROM THE SOCIETY THAT HE HAS SUPPLIED MILK OF RS. 150000
NOW WHETHER THIS IS HIS INCOME OR WE HAVE TO DEDUCT THE EXPENDITURE AND NET INCOME TO BE SHOWN .
PLS TELL ME.
Max Payne
(employed)
(2569 Points)
Replied 22 March 2010
Sir, supply of milk is only sales.
Net off the expenses to get income..
kumarsatish022
(Professional)
(165 Points)
Replied 22 March 2010
yes it is taxable under head PBGP prepare Balance sheet and claim all expenses attributable to it
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
