12-06-2010, 07:15 PM
Turnover for the purpose of being with hoding agent has no concern whether your income is subject to FTR or not. Your all invoices though covered by final discharge, will be added in calculating your turnover.
Point which may be confusing you is this, in above defination, turnover is for calculating your tax liability. And ofcourse the invoices which are subject to fianl discharge must be excluded. But it does not mean that it was not your income, their exclusion is just to avoid double counting as you do not have any tax liability in respect of those invoices.
Point which may be confusing you is this, in above defination, turnover is for calculating your tax liability. And ofcourse the invoices which are subject to fianl discharge must be excluded. But it does not mean that it was not your income, their exclusion is just to avoid double counting as you do not have any tax liability in respect of those invoices.
