Labour Charges
This query is : Resolved
12 April 2016
I am a dealer dealing in readymade garments.I am a bit confused that Job Work charges i.e. stitching & Labour charges comes under direct or indirect expense? Further I would also like to know that in the month of Match I had paid stitching & Labour charges of Rs.2,05,000.00 by cash for which I don't have any bill or receipt as I have done at various places. So is it right to show these expenses? Please experts guide me.
12 April 2016
These are direct expenses. If your turnover is less than 1 crore and declare not less than 8% profit on turnover you can show such expenses as you are not required to maintain books of accounts.
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