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Computation of turnover

02 May 2017

Whether Long/short term Capital Gain shall form part of the turnover of the company.?? More specifically whether profit on sale of shares is to be included in the turnover of the company.

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2 Replies

Mahesh Babu (CA Final) (618 Points)
Replied 02 May 2017

LTCG/STCG will not form part of Turnover of a compnay, it will be considered as CG for income tax purpose.

Nikunj Shiyani (Executive) (124 Points)
Replied 13 May 2017

there is diffrent defination to the different act, for the purpose of companies Act profit or loss should be trough P & L Account, and for Income tax purpose it is just CG, nd noth part of business total income