Income Tax U/S 44AB
This query is : Resolved
10 March 2008
dear sir and friends
In this regard i would like to know the meaning of term TURNOVER whether it include Parchase or both purchase and sale?
In this regard i would like to know the meaning of term TURNOVER whether it include Parchase or both purchase and sale?
10 March 2008
TURNOVER MEANS SALE IN CASE OF MANUFACTURING/ TRADING CONCERNS
11 March 2008
turnover means Sale for manufacturing concerns. for service sector it is gross receipts
11 March 2008
In regard to Sec 44AB :
In case of manufacturing and trading concern Sale is considered as Turnover and in case of service provider total receipt is considered as Turnover.
In case of manufacturing and trading concern Sale is considered as Turnover and in case of service provider total receipt is considered as Turnover.
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