19 September 2016
As I have started updating export sales as per shipping bill issued by the custom authorities but there are so many consultants who have advised me to update the export sales as per the realized value against the export sale invoice because of which gross profit will look much bigger and there would be very dim chance of income tax scrutiny.
What is your view on this issue ?
Whether exchange difference shall be reflected under the head of other income ?
20 September 2016
Export Sales Invoice Value as per shipping bill Rs 65 lacs Export Sales Invoice Value as per Realisaton Rs 66 lacs Income on account of exchange difference Rs 1 lac
Income of Rs 1 lac whether shall be reflected under the head of other income or business income ?
20 September 2016
tks for your guidelines form time to time with lot of rdgs yrs tarique rizvi 9821630130 bombay email id " tarique_rizvi@rediffmail.com :
CAclubindia
