whether we should receive whole sale amount by bank to avail benefit of 6% or partial sale by bank is permissible?
on bank transaction 6%
on cash transactions 8%
Total=
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section 44AD
Replies (2)
AS per proviso inserted finance Act 2017 w.e.f 1/4/2017
" The word 6% has been substituted, in respect of the amount of total turn over or gross receipt which is received by an account payee cheque or account payee bank draft or eletronic clearing system through the bank account during the previous year or before the due date speccified in sub section (1) section 139 in respect of that pervious year "
Turn over stands divided and not the receipt in any of the transaction.
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