Turnover for the purpose of income tax filing
This query is : Open
28 August 2018
Dear Sir,
for the purpose of filing the income tax return u/s 44AD or 44ADA , the turnover is whether inclusive of GST or exclusive of GST ? kindly advise.
for the purpose of filing the income tax return u/s 44AD or 44ADA , the turnover is whether inclusive of GST or exclusive of GST ? kindly advise.
CA Ankit R Momaya
(Expert)
28 August 2018
Turnover is considered exclusive of GST
28 August 2018
If filed under presumptive taxation scheme then Turn Over will be calculate including with Taxes (VAT & GST).
If filed u/s 44AA then Only we can calculate Turn Over in Basic Value of Sales h Services...
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