Turnover
Querist : Anonymous
Suppose there is a dealer whose total sales are in FY 2011-12 say Rs. 58 lacs and VAT charged thereon @5% say Rs. 290000/- which is separatly shown in tax invoices and duly deposited by challans in bank and grand total say Rs. 6090000/-.
Please advise me, what is turnover - Rs. 58 lacs or Rs. 6090000/-
and
Whether the assesee can opt 44AD from the perspective of turnover.
Thanks.
Querist : Anonymous
Yes, he can opt 44AD for the perspective turnover.
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