How to compute gross receipts of civil contract business?
This query is : Resolved
26 January 2012
Dear sir, my query is that, if gross receipts of civil construction contract business are Rs. 2000000 and out of that T.D.S. amount is Rs. 20000 during the f.y. 2010-11. What would be the amount of gross receipts for the purpose of calculating net profit @8% U/s 44AD, either Rs. 2000000 or Rs. 1980000 ?
Regards.
Regards.
26 January 2012
If you say 1980000/- it is net of TDS and as such can not be said as Gross.
Gross Receipts =20.00 lacs.
Gross Receipts =20.00 lacs.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Forgot to update debit note in gst
- Can we claim ITC in 28%
- Relief Calculation u/s 89 of ITax 1961 in TableA Form10E
- Applicability of RCM on Frieght Inward supplies received from un-registered person
- Expenses add back in profit
- Can we issue an invoice today
- SALE OF GOODS FROM OTHER STATE
- Accounting Policies changes
- Credit note Issue reg
- Running non ac bus under contract with roadways
- CA Final exammm
- ADDITIONAL PLACE OF BUSINESS DOCUMENTS
- Are You Looking For an Easy Academic Help?
- Wrongly goods delivered to other state
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
