If a company did a billing of 10L in a FY but received 5L from clients, then they are suppose to file return as per 10 L or 5 L? or they can do either?
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44ad turnover / gross receipts clarification
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That depends whether you are following cash basis or mercantile basis of accounting. In general practice, Mercantile Accounts system is followed and then you have to consider 10 Lac as your Turnover.
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