Section 44 ad very urgent
This query is : Resolved
25 July 2012
Hi,
My Query is for calculating profit on presumptive basis under Sec 44 AD turnover and gross receipts will it include Sales Tax or Excise Duty or any other taxes
i.e. 8% of turnover will it include sales tax charged to the customer
My Query is for calculating profit on presumptive basis under Sec 44 AD turnover and gross receipts will it include Sales Tax or Excise Duty or any other taxes
i.e. 8% of turnover will it include sales tax charged to the customer
25 July 2012
ABSOLUTELY, IT INCLUDES ALL THE TAXES AND DUTIES. Estimated profit is always computed on gross receipts.
25 July 2012
It is to be calculated on Gross receipts. So these should be includible.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- ITR returnFY25-26
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR validation error - Balance sheet is not filled
- Share accounting-->fifo - capital gain - period as per fifo?
- Registration as Authorised Representative of minor
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
