44ad sales or purchase higher
This query is : Resolved
28 March 2019
DEAR SIRS,
ASSESSE HAS PURCHASE IS HIGHER THAN SALES
IN 44AD WHICH IS CALCULATED AS A TURNOVER SALES OF PURCHASE ?
WHAT IS PROVISION OF AUDIT IF HE CLAIMS LOSS, AS ACTUALLY ITS LOSS. BUT ASSESSEE WISHES TO DECLARE PROFIT OF 8%
ASSESSE HAS PURCHASE IS HIGHER THAN SALES
IN 44AD WHICH IS CALCULATED AS A TURNOVER SALES OF PURCHASE ?
WHAT IS PROVISION OF AUDIT IF HE CLAIMS LOSS, AS ACTUALLY ITS LOSS. BUT ASSESSEE WISHES TO DECLARE PROFIT OF 8%
30 March 2019
DEAR SIRS,
ASSESSE HAS PURCHASE IS HIGHER THAN SALES IN 44AD WHICH IS CALCULATED AS A TURNOVER SALES OF PURCHASE ? WHAT IS PROVISION OF AUDIT IF HE CLAIMS LOSS, AS ACTUALLY ITS LOSS. BUT ASSESSEE WISHES TO DECLARE PROFIT OF 8%.TURNOVER IS RS. 55,22,387/- (SALES) AND PURCHASE RS. 60,45,115/-
ASSESSE HAS PURCHASE IS HIGHER THAN SALES IN 44AD WHICH IS CALCULATED AS A TURNOVER SALES OF PURCHASE ? WHAT IS PROVISION OF AUDIT IF HE CLAIMS LOSS, AS ACTUALLY ITS LOSS. BUT ASSESSEE WISHES TO DECLARE PROFIT OF 8%.TURNOVER IS RS. 55,22,387/- (SALES) AND PURCHASE RS. 60,45,115/-
06 April 2019
In 44AD turnover means gross sales i.e. gross receipts.
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