Dear Friends
I am an engineer by profession and accountancy and finance are very intresting topics for me...i need ur help as i m a new in this area.
Suppose i am having a business of sale of LAPTOPs .
Suppose i purchase 20 laptops from a company @ 20000/- each so that my total purchase is Rs 4 Lakh
Suppose i sale each of these 20 laptops @ 25000/- so that my total sale is Rs 5 Lakh
In this case my profit is Rs 1 Lakh and there will be certail expenses also
WHAT WILL BE MY TURNOVER IN THIS CASE? Will it be equal to sale price or sale+purchase price?
means my turnover is Rs 5 lakh or Rs 9 lakh or anything else....
Are there any expenses to be deducted from turnover
and what are the documnets legally required to prove my turnover
pls reply at sushil @ girdher.com i shall be highgly obliged
CAclubindia
