Turn over calculation u/s 44ad...

S ELAVARASI (ACCOUNTANT) (2975 Points)

20 July 2018  

Dear Experts / Team.,

Mr. X doing business (Sales & Service / Manuf & Service) If He is eligible u/s 44AD.  His Purchase Value Rs. 20,00,000 and Sales Value Rs. 10,00,000. He sell his goods with benifit of margin @ 20%. After less the Margin (Rs. 200000) actual basic value Rs. 800,000.

As per this/My Calculation stock in hand Rs. 12,00,000. In Tally Software Enter the amount of stock and it's taken total business transaction...

Now the Queries are :

1. Which value is his Turn Over?

2. What values u/s 44AD?

3. What about Tally PandL? it's shown with stock if i enter books...

 

Thanks in Advance