Taxable turn over in 44Ad

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This discussion clarifies how to calculate taxable turnover for businesses operating under Section 44AD of the Income Tax Act. It addresses whether the export of services should be considered exempt or included in the total turnover. The consensus is that all revenue recognised in the profit and loss account, including service receipts and export income, forms part of the gross turnover for 44AD purposes.

binu sukumaran

binu sukumaran (Querist)
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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.

RAJA P M

RAJA P M (Expert)
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08 December 2023 It's include in the total turn over.

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)
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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.

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