In Tax Audit, wht v hv 2 include in "TURNOVER"
CA.Tarun Maheshwari
(CA, DISA)
(7150 Points)
Replied 22 September 2009
We have to considered, total sales value/services value or gross reciepts in the turnover. Sometimes, we consider total credits into bank as turnover. In case of business from shares on intraday basis, the total of profits and losses is considered as turnover. Its totally based upon the nature of business. If you asking for some specific business then pls tell the nature of it.
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9058 Points)
Replied 22 September 2009
agree with Mr. Tarun
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