Section 44AB of Income Tax Act 1961
This query is : Resolved
18 June 2011
Dear All
Please tell me the meaning of Turnover and Gross Receipts under section 44AB of Income Tax Act 1961 to determine whether the tax audit is applicable or not.
While determining the turnover whether the purchase turnover is considered or not??
Thanking you
Please tell me the meaning of Turnover and Gross Receipts under section 44AB of Income Tax Act 1961 to determine whether the tax audit is applicable or not.
While determining the turnover whether the purchase turnover is considered or not??
Thanking you
18 June 2011
Turnover means gross sales and has no relation with purchase.
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