Def of Gross receipts u/s.44AB

This query is : Resolved

Subrahmanaya Kamala Prasad G (Querist)
Follow

19 September 2010 as the section says that, for the purpose of tax audit 1c total sales should be more than the limit prescribed by the this section.
but i have a doubt, is that the gross receipts includes even taxes collected ??
than if that is the case, if i'm giving the personal account treatment for the VAT or Service Tax collected than that will never form part of the total sales/receipts and even section 145A prescribed to give the balance sheet effect(in Current Liabilities) to the VAT account, than how to confine about the term gross receipts u/s.44AB

jus give the relevant section where it is defined clearly

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

19 September 2010 You can't get a clear definition or section reference for this purpose because the income tax act ,especially,has not defined those terms. However,to know the terms pl refer some good books which had analayised the issue in depth and came to a conclusion acceptable to the revenue and the assessee's as well. One such book is "Guidance note on tax audit u/s 44AB of the IT Act" published by ICAI. Pages 11 to 19 (Fourth edition)of the said book contains analysis of the terms required by you.

Subrahmanaya Kamala Prasad G

Subrahmanaya Kamala Prasad G (Querist)
Follow

19 September 2010 Thanq for saying me along with the page no's

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Arun Mahaldar

CA Sabrish Nair

REGIWISE CONSULTANTS PVT LTD

K.M. AGGARWAL

Ashif Cheenikkal

Subscribe Now

Def of Gross receipts u/s.44AB

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA