I wanna knw dat if a company maintains separate account in which Sales tax recovered is credited n Sales tax paid is debited then wl it be included in calculating the TURNOVER for the purpose of Sec 44AB(tax audit) of IT Act..?
plz give ur views..
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URGENT..
Replies (2)
no
As per ICAI guidance, if taxes collected are regularly credited to separate account and not included in sales, then it will not be added in turnover
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