44ad
Sumit Rajput (Article) (115 Points)
06 September 2015
what is the difference between sales, turnover an gross receipts in respect of Section 44AD of Income Tax Act, 1961.
Miss Rinkal
(Student)
(1304 Points)
Replied 06 September 2015
Sales turnover is 1 single word.
Any person engaged in business will use the term Sales turnover and
Any person engaged in profession will use the term Gross Receipts.
List of Profession have been notified and can be seen in Sec 44AA of IT act
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