ITR u/s 44AD
This query is : Resolved
03 July 2017
Dear experts,
we are filing ITR u/s 44AD for ay 17-18 as per details below :
1) Total turnover w/o tax is 1.55 CR.
2) Amount recd. thru banking channel 1.20 CR.
3) Amount recd. thru cash etc. 0.40 CR.
we have recd. amount from parties with tax i.e. vat, CST. But turnover is w/o tax.
So, we have to deduct tax amount from payment to match turnover i.e. payment recd. thru banking channel less tax amount included in payment.
Is the above practice is correct?
please guide.
Rakesh Sharma
05 July 2017
dear experts,
please reply. it's very urgent.
regards,
Rakesh Sharma
16 October 2021
Yes, correct ...
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