11-03-2011, 04:39 AM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by rehanjaved00</i>
<br />Thanks for the help..Please correct me if i am wrong , as per my understanding after reading that post is
Net sales = Receipts from export+ Local sales
Cost of sale = Total cost
Gross revenue= Net sales-cost of sale
P&L expenses = Total expenses
Net income=
ADD Non admissible deductions
Expenses/costs required for Export of software
Partners salaries
Partner Allowances
Accounting depreciation
LessAdmissible deductions
Receipts from exports of software
Tax Depreciation
Total taxable income
Thanks!
o
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
You have deviated a little from the post that I referred to, however, it does not affect the result. You have added back cost/expenses relating to export in inadmissible deductions columns after deduting total expenses/ cost from Trading &P & Lexpenses. While the author of the referred to post took into account only expenses relating to income falling under normal tax regime.
Alternatively, you may write only income and expense relating to normal tax regime on page 1 of the return while, exports (income relating to FTR) on page 2 of the return
<br />Thanks for the help..Please correct me if i am wrong , as per my understanding after reading that post is
Net sales = Receipts from export+ Local sales
Cost of sale = Total cost
Gross revenue= Net sales-cost of sale
P&L expenses = Total expenses
Net income=
ADD Non admissible deductions
Expenses/costs required for Export of software
Partners salaries
Partner Allowances
Accounting depreciation
LessAdmissible deductions
Receipts from exports of software
Tax Depreciation
Total taxable income
Thanks!
o
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
You have deviated a little from the post that I referred to, however, it does not affect the result. You have added back cost/expenses relating to export in inadmissible deductions columns after deduting total expenses/ cost from Trading &P & Lexpenses. While the author of the referred to post took into account only expenses relating to income falling under normal tax regime.
Alternatively, you may write only income and expense relating to normal tax regime on page 1 of the return while, exports (income relating to FTR) on page 2 of the return
