08 December 2023
Sir. One of my friend has local and export service. While calculation taxable turn over ,export of service is exempted or add to total turnover in the case of Income taxable payments uder 44AD. Please advise.
20 January 2024
“Turnover” means the gross amount of revenue recognized in the profit and loss account from the sale, supply, or distribution of goods or on account of services rendered, or both, during a financial year.
It means the amount which is reflected in your Profit & Loss A/c and Gross means all type of revenues, like Service Receipt, Trading Receipt etc.