Meaning of ‘Turnover/Gross receipts’ under Income Tax & Inclusion of GST

♦ Section 145A of Income Tax Act, 1956 ‘145A. Method of accounting in certain cases.—Notwithstanding anything to the contrary contained in section 145, the valuation of purchase and sale of goods and inventory for the purposes of determining the income chargeable under the head “Profits and gains of business or profession” shall be— (a) in accordance […]

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