Always the question, where does the bullet hit, at what angle, what does it penetrate, what does it break, does it start fire etc etc.
Is it control cables, wires, the oxygen bottle, the pilot, the ammo casing in the wing guns, control surfaces, hinges,, things related to instruments or weapons, fuel lines, fuel tanks, ordnance, wings, tailplanes, stabs, rudder, the radio, windshield, undercarriage, radiator, oil cooler, and I'm not into anything that a .303 could not do! It's not all about just punching through the armour. But that's where the big guns start shining. There is nothing they won't screw up! They'll knock off many times more than the .303 with a single shot, they'll slam through armour, they rip skin, they punch through entire structures, they penetrate into an engine's chamber, they go through .... a lot.
I've looked at footages, seen lots of pictures, and read lots of reports.
The mine rounds that HoHun mentioned were the nightmare of bombers, since a single one could blow big holes into the structure.
(for that sake, if you look at the inside of WW2 bombers, almost anything will be dangerous to the crew, especially gunnersand navigators. On 200 yards my .22 magnum will penetrate a barrel, which is vastly thicker than aircraft skin, and .22 mag is just a friction of a humble .303)
There are thousands of examples where just the .303 knocked down bombers, and DeWilde ammunition would on many occations "flame" enemy aircraft. I even remember an account where a Stuka got peppered to death with only 2x.303's!
Going up to Hispanos was already a big steps, that's where I started running across things like "parts flying of the enemy aircraft", and "it was incredible how much damage those little cannons could do with only a few rounds", and "with only 13 rounds fired the enemy aircraft (maybe it was 2) was/were down, up to "the enemy aircraft exploded (HO situation) and I flew through the wreckage".
So goes the story. bigger and bigger guns and rounds, - more and more effect. But you can still kill almost anything up close with a .303