Turnover for presumptive basis profit
This query is : Resolved
Quick Summary
11 July 2020
Whether service tax included in turnover to calculate profit on presumptive basis
12 July 2020
Yes service tax will be includible as per section 44BB of the income tax act as per my view.
05 November 2021
Presumptive assessment is based on total receipts by assessee in previous year.
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