Definition of Total Turnover/Gr.Receipts U/s 44AD of I Tax
This query is : Resolved
24 May 2011
Dear Colleagues,
In ref. to my query for exact meaning of Total Turnover/Gross Receipts, Mr. (CA)Parag Bhupatani, has replied that same is to be considered net of all taxes for which I thank him for his prompt reply in the matter.
In the absence of definition of "Total Turnover/Gross Receipts" under I. Tax Statues, (particularly for sec 44AD), I shall appreciate if any one give supporting circular, notification, article, guideline, judicial ruling, etc.
Once again thanks in advance
Mahesh Kakoo
Advocate & Tax Consultant
In ref. to my query for exact meaning of Total Turnover/Gross Receipts, Mr. (CA)Parag Bhupatani, has replied that same is to be considered net of all taxes for which I thank him for his prompt reply in the matter.
In the absence of definition of "Total Turnover/Gross Receipts" under I. Tax Statues, (particularly for sec 44AD), I shall appreciate if any one give supporting circular, notification, article, guideline, judicial ruling, etc.
Once again thanks in advance
Mahesh Kakoo
Advocate & Tax Consultant
24 May 2011
Pl refer page 8 (June 2000 edition) of The Institute of Chartered Accountants of India publication "Issues On Tax Audit".
24 May 2011
Sir Ji,
Thanks a lot for your prompt reply
Have Blessed Day
Mahesh Kakoo
Advocate & Tax Consultant
Thanks a lot for your prompt reply
Have Blessed Day
Mahesh Kakoo
Advocate & Tax Consultant
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