Hello,
A proprietor is having business of garments. He is also partner in 3 firms. He is receiving Interest and remuneration from such firms.
Does such interest and remuneration forms part of Turnover along with turnover of business of garments?
I did paste some material regarding turnover formula where revenue is a component in which interest income must also be a part of it. It’s public property on this forum and my previous blogs are blocked due to tech changes on caclub. Looks like they can’t manage the disk space. I am also bored to write here further more, if you can find it in my profile, all the best.
CAclubindia
