Dear All
I have 250% GP in my business after actual acoounting net profit is 125%
I want NP 10-15% only
what i do?
How to adjest?
pl. help me.
Thanvi 007 (manager) (39 Points)
25 June 2011Dear All
I have 250% GP in my business after actual acoounting net profit is 125%
I want NP 10-15% only
what i do?
How to adjest?
pl. help me.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 25 June 2011
Originally posted by : nisha | ||
Book some indirect expences and direct expences.........u can also makes a control over receipts......Adjust the march month expences like salary telephone bill electricity rent as payable............... |
AGREED
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 25 June 2011
Originally posted by : Thanvi 007 | ||
Dear All I have 250% GP in my business after actual acoounting net profit is 125% I want NP 10-15% only what i do? How to adjest? pl. help me. |
book direct expenses @ 40% - 50% approx on all incomes in month of income generation basis, this will reduce the GP
chaitanya cherukuri
(Articled Student)
(241 Points)
Replied 26 June 2011
Thanvi 007
(manager)
(39 Points)
Replied 27 June 2011
Dear
my purchse cost is 100 and sale value is350 and actual exp. is 100 Rs.
NP = Total sale -purchse-exp..
350-100-100=150 is NP
I want only 10 to 20 NP what i do?
where i adjest 130 to 140 ? is my question
I allready account all direct and indirect exp. than after i have NP 150.
CA Rakesh Garg
(Asst. MGR Taxation)
(510 Points)
Replied 27 June 2011
U can reduce the sale amount, if possible in ur case. check all purchases are entered. pass reasonable exp entry proportnate to sale. actually without viewing the books, accurate way cant be find.
CA,CS, ICWA Inter MANOJ KEDIA
(Working With Educomp)
(99 Points)
Replied 27 June 2011
Looking at ur query it seems ur industry have large profit percentage
but i dont think if any industry have too much profit margin
if isnt at tht tym of scurnity by AO he will reduce your profit according to industry margin or if you can prove it is extraordinary case and you should pay tax....there is no question to decrease the profit
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