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Turnover computation for tax audit

This query is : Resolved 
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(Querist)
23 September 2013 Whether sale of old used bags as scrap by invoice in steel sector co. be treated as part of turnover of the co. for the purpose of sec 44ad???what will be its accounting treatment???
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CA Parul Saxena

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CA Parul Saxena (Expert)
23 September 2013 to be considered as other income........not to be considered as part on turnover...entry will be:-
Bank/Cash A/c Dr...........
To Sale of Scrap.................
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