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Determination of turnover, Income Tax |
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Determination of turnover |
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How to determine turnover in case of an advertising agency? The question is whther it is gross amount received or only the commission portion for the purpose of determining turnover?
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Value on which the tax is calculated, should be taken as the value for the turnover purpose. If the tax is charged on the commission only, then for the purpose of Service Tax, gross value of commission on the tax is payable should be taken as the value for the purpose of turnover.
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