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INCOME TAX Composition delear

Others 208 views 3 replies

m.prasad

B.Com

134 Points Posted on 12 August 2022

sir my friend running Medical shop he is in COMPOSITION delear, while preparing Profit and loss , in purchase we have take including tax purchase and including tax sales and we have paid 1% tax that we have to expenses

Replies (3)

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 12 August 2022

Tax paid shown under indirect expemsesy

m.prasad

B.Com

134 Points Posted on 12 August 2022

We have to take including tax purchases and including taxs sales

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 13 August 2022

Purchase is to be shown including taxes but sale excluding tax.

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