Accounting ratio's to be disclosed in Form 3CD under TA Repo

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CA Sanjay Baheti (Querist)
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11 September 2010 In case of partnership Firm being building Contractor covered under tax audit how to diclose the N.P./Turnover ratio.whether N.P.to be taken before Partner's Remuneration & Partner's Interest or after providing the same.
Please confirm.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 September 2010 Building contracts is a service activity and it cannot amount to a manufacturing activity. Hence the ratio's under clause 32 of form 3CD need not be calculated in respect of such an assessee.

CA Sanjay Baheti

CA Sanjay Baheti (Querist)
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11 September 2010 Thanks Mr.Warrier for reply. But I want to clarify that it is not purely service provider as the same are carrying out the said activity along with Materials used by them in execution of such activities & debited to P & Loss A/c also.

In that case whether it is not be shown still in Form 3CD.Please confirm.

CA Sanjay Baheti

CA Sanjay Baheti (Querist)
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