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Income Tax U/S 44AB

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(Querist)
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?
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
10 March 2008 TURNOVER MEANS SALE IN CASE OF MANUFACTURING/ TRADING CONCERNS
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jegannath G

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jegannath G (Expert)
11 March 2008 turnover means Sale for manufacturing concerns. for service sector it is gross receipts
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CA J M Pattanayak

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CA J M Pattanayak (Expert)
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.
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