Tax audit is based on
Nishu Kotian (332 Points)
10 February 2021
turnover is considered as a income tax audit is net or gross
1 Replies
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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