Naina (CA Student) (477 Points)
19 September 2010Please solve my following queries relating to Annexure I Part - B of Form 3CD:-
1. Whether "gross receipts" includes rebate and discount received.
2. Whether "interest paid" includes interest paid to partners in a partnership firm.
3.Whether TDS deducted by the parties are included in the "taxes on income paid/provided for in the books".
Thanks
Shikha Bajaj
(CA )
(433 Points)
Replied 20 September 2010
Hi
Pls find the attachment.
In case of any query, pls feel free to revert!
Thanks
Shikha Bajaj
Arvind Khemka
(practicing CA)
(210 Points)
Replied 20 September 2010
@ sikha bajaj: thanx..dt was rily useful
Naina
(CA Student)
(477 Points)
Replied 20 September 2010
Thank You Miss Shikha, for your valuable views.
But I want to know whether discount received on purchase or on making early payment, shown on the credit side of the P& L A/c should be counted in the Gross Receipts.
Shikha Bajaj
(CA )
(433 Points)
Replied 21 September 2010
Hi
In my view, Discount recd should not form the part of gross receipts.
Rather we can interprete as we can take the deduction as purchase less discount to arrive at profits.
Mohammad Asif
(chartered accountant)
(191 Points)
Replied 30 October 2010
No discount received should not be counted in gross receipts
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