U/s 44ad sales value including output tax or excluding?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 February 2012
u/s 44AD ,for calculating estimated income at 8% or more,
whether to consider sales value including output tax or sales value excluding output tax? kindly advise me.
whether to consider sales value including output tax or sales value excluding output tax? kindly advise me.
CA PARAS BAFNA
(Expert)
25 February 2012
When, Out put tax is separately shown under a different account head, it does not form part of sale. Sales Value excluding output tax can be considered for applying 8%.
Message likes :
1 times
03 April 2012
Your turnover is material and that depends on the system of accounting followed by you. If you are taking service tax, VAt in Sales then it will be your TO yu can avoid this and directly credit both. then it will not be your TO
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