Can incentive income club into net profit

Respected sir, I have proprietorship firm doing business of cloth trading ,in that net profit is coming less than 8% , one thing i want to ask you that Is incentive received on turnover can be assume as business income and can add into net profit for fulfill the requirement of net profit must be 8% on turnover please guide. my tax consultant is saying that it can not be club into net profit, it will be income from other sources ,please guide. Incentive income we received as sales promotion and on turnover schemes

asked Jul 23 '13 at 20:48 by Rahul singhania 12

We have little knowledge on business accounting. Please ask this question on another forum/website.
(Jul 24 '13 at 01:48) Pankaj Batra

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Be the first one to answer this question!
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text]( "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported



Asked: Jul 23 '13 at 20:48

Seen: 1,082 times

Last updated: Jul 24 '13 at 01:48