Accounting ratio's to be disclosed in Form 3CD under TA Repo
This query is : Open
CA Sanjay Baheti
(Querist)
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.
Please confirm.
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
(Querist)
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.
In that case whether it is not be shown still in Form 3CD.Please confirm.
CA Sanjay Baheti
(Querist)
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.
In that case whether it is not be shown still in Form 3CD.Please confirm.
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