If an assessee is engaged both in retail/wholesale and also providing services. Then what should be the meaning of "Turnover" in calculating the ratios in the form 3CD, especially ration of Stock-in-Trade/Turnover.
Please guide.
Naina (CA Student) (477 Points)
10 October 2010If an assessee is engaged both in retail/wholesale and also providing services. Then what should be the meaning of "Turnover" in calculating the ratios in the form 3CD, especially ration of Stock-in-Trade/Turnover.
Please guide.
CA. Abhishek K. Pandey
(Manager (Advance))
(901 Points)
Replied 10 October 2010
Dr. Paras Jain
(Chartered Accountant)
(1238 Points)
Replied 11 October 2010
yes.Judicially decided that turnover wil include receipts
Mayur Arora
(CA Final)
(295 Points)
Replied 11 October 2010
Dear Abhishek,
I think STR will be calculated taking into consideration of receipts of Services.
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