Calculation of Turnover
This query is : Resolved
Quick Summary
04 May 2020
The Mobile Recharge agent pays Rs.1000 and get balance of Rs.1050.
What will be the turnover for Income Tax Return :
1. Rs 1050 or
2. Commission Rs.50 (1050-1000)
What will be the turnover for Income Tax Return :
1. Rs 1050 or
2. Commission Rs.50 (1050-1000)
04 May 2020
Income Tax only needs to be given on one's Income and deduct all eligible expenses. Here in your case. Income Tax Return will show a Income of Rs. 50.
CA R SEETHARAMAN
(Expert)
05 May 2020
Commission of 50 will be turnover for income tax return.
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