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GROSS RECEIPTS FOR SEC 44AD

giri gattupalli

respected sir ,

my clint is a regular gst dealers turnover amouts to rs sale 70,00,000 out put tax 3,50,000.

please discusse gross what are the gross receipts for a AY 2020-21 under sec 44AD,whether it is 70 lakss or total amount inclusive tax rs 73,50,000 please discuss

thanking you

Gross receipts must include indirect taxes such as GST, impacting presumptive taxation under section 44AD. Gross receipts for presumptive taxation under section 44AD are computed inclusive of taxes collected on behalf of the government; for a regular GST dealer, supplies plus output tax constitute the gross receipts relevant to the presumptive scheme and output tax is not deductible when aggregating turnover for section 44AD. (AI Summary)
Income Tax
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giri gattupalli on Dec 10, 2020

respected sir

please discuss

thanking you

giri gattupalli on Dec 11, 2020

respected sir

please discuss above querry

thankibg you

Guravaiah Manam on Dec 18, 2020

Gross Receipts means total value includes all taxes and without any deductions.

So Gross Receipts is ₹ 73,50,000/-

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