SEC 44AD AUDIT GROSS TURNOVER/RECIPTS
This query is : Resolved
16 September 2023
My client has received Subsidy against working capital . Whether it is Capital receipt or Revenue . If revenue whether it is shown In Profit & Loss account . whether it will b calculated for 44Ad Turnover limit for 6% or 8% profit. Pl guide.
Capital subsidy received ag machinery credited to Machinery Acnt.
Capital subsidy received ag machinery credited to Machinery Acnt.
16 September 2023
A subsidy received for working capital is a revenue receipt. Show in p and l account.
Not to be counted for 44AD turnover as it's not a sale receipt.
Not to be counted for 44AD turnover as it's not a sale receipt.
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