Tax is computedas 8% of total turnover of a an taxpayer, but in total turnover of all business branches
wheither interstate stock transfer will be included in total turnover??
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sec 44ad presumptive income
Replies (4)
No stock transfer to other branch not included in gross turnover.
stock transfer will not be considered while computation sec 44AD income.
and if branches are maintaing separate Financial statment then their turnover will also not considered vice a versa.
and if branches are maintaing separate Financial statment then their turnover will also not considered vice a versa.
| Originally posted by : Dhruv Pancholi | ||
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and if branches are maintaing separate Financial statment then their turnover will also not considered vice a versa. |  |
NO , it does`nt matter how many branches a Proprietor/Partnership firm runs in different locations ,the turn over calculation for 44AD are PAN based .... turnover of all branches with same PAN as legal entity name will be clubbed together to arrive at the turnover of the said PAN/Bussiness/legal entity so maintenance of separate financial statments for each Branch (Different branches linked with the same PAN) is irrelevant here .
ok thanks
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