Tax audit is based on
Nishu Kotian (332 Points)
10 February 2021
turnover is considered as a income tax audit is net or gross
Nishu Kotian (332 Points)
10 February 2021
CA SEEMA AGARWAL
(Chartered Accountant)
(414 Points)
Replied 10 February 2021
Turnover or income is always considered in gross value and not in net value...net value includes gross value-deductions and these deductions are considered as a pert of your income. For eg: u receive rs. 10000 as gross receipt & 1000 is deducted TDS and u received Rs. 9000/-, so here 10000/- will be considered as your income not 9000/-
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