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sec 44 af

(Querist) 21 March 2011 This query is : Resolved 
a retail gold jeweller, whose has both turnover from sales of gold and also collects making charges from person to whom he makes ornaments. what would be the sales turnover for sec 44 af, only sales turnover of gold or both including making charges and how to show in ITR IV . urgent
preet (Expert) 21 March 2011
Sale of gold is taken into sales turnover under section 44af. charges from person is consider into job work or commision work. But note that billing is not made for charges from person.
MUKESH SHARMA (Expert) 21 March 2011
44 af is for retail sales, making charges is labour job, if you are taking making charges than it is not retailing , it is than manufacturing activity it will be better if you show wages against labour job and give bill of sales part only
soumitra basu (Expert) 02 April 2011
Section 44AF is not applicable in this case. It is not selling of bear gold but selling of gold ornaments.


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