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Taxation Interview Questions
Questions Answers Views Company eMail

Dear Experts, I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax. Here are the examples with expected result. Please let me know the formula on how to get the given result. Example1: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2 Expected Results are: Tax1=76.34 Tax2=83.97 Tax3=76.34 Let me know formula to derive above values? Example2: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 Expected Results are: Tax1=75.70 Tax2=83.27 Tax3=84.03 Please let me know formula to derive above values? Thanks in advance.

ABC,

1765

how much tds deducate on hotel party arrange by company

Unique Engineers,

2020

Sir, We purchased coal from NCL on CST basis. An incentive is paid on the basis of performance basis of NCL. NCL Raise there incentive bill for Rs. 1000+CST2% Rs.20 Total Rs. 1020/-. But As per Our Calculation, Incentive bill should be Rs. Basic 900+18 (CST)total Rs. 918. We argue and disputed and paid only Rs. 918/- . After Some time they also agree that incentive amount should be Rs. 900+CST but Now they revised the bill like this Basic Incentive Rs. 900+CST Rs.20/- (Original Tax value). And now they are demanding C for with CST 20/- but our pleas is that we are not liable for the mistakes made by the NCL and will issue C for for Rs. 18 Only. Now They are demanding C for for difference of Rs. 2 of CST. My Question is what should be the actually value of C form for CST ie. Rs. 18 or 20. considering the fact that we accounted only rs. 918/- in books and disputed is resolved after one year for basic value.

NTPC, XYZ,

1919

WE purchase Firewell for our office Rs.26500/- the vendor charge 5% vat on 26500=1325 and S.Tax 14.5% on 26500/- =3843 is it is possible please clarify

1755

In wct limit is Rs.5lac if vendor provide bill below 5lac wct will applicable or it aggregate I need deduction of wct 5lac slap

NSCI,

1774

A newly start business person purchase material from out sate by paying advance tax to commercial tax dept. And collect road permit for purchasing the material which consider the cst-form. But he not registered in that state. Where he is paying adv.Tax -if he eligible for the c-form.

1 2892

In our bodyshop wct tax is 13.05% on the whole Labour charges( including opening fitting ,repairing ,painting. Is this justified?

Rudra Automart,

1637

can a company/firm give more than 20000 rs in cash in a day to his employee as an advance for day to day exp ( not for purchase a capital asset )

Gammon,

3 5062

Can Form H be given based on exicse invoice copy

TATA,

1 2904

i want to learn income tax work please tell me about all dedutions exempations and income detail...how to calculate tax on net income

ABC,

1932

How to show reject material in ER1

1715

assessee is a developer. menthod of accounting- mercantile. he sold a flat to party , registration has been done in financial year 2012-13. but he has taken the sale next financial year on the ground that one cheque has been credited in the next financial year. can the assessee's claim can be considered for taxation purpose

1622

Total amount inclusive of tax is 1,00,000 1) ST @ 14.5% on 30% of value 2) COT @ 4% on 100% of value Please find the answer?

GW,

1 2611

Testing charges bill given for Rs. 32,000/- but not added service tax in this bill. So, How much TDS will be deduct

Suraj Constructions,

1 3046

how many form 38(Road permit) can issue in one month or in one time

SR Industries,

1 2904


Post New Taxation Questions

Un-Answered Questions { Taxation }

How can done the Accounting of WTC ? OR WTC treat (Take) like Service tax credit?

2600


do we have tds in nigeria

3104


hi,when i am posting an entry on service tax it is not showing the business area.please guide me how to configure the business area so that the entry also shows the business area.please help as i need to configure it.

2163


The company has to pay transportation charges for transporting its materials. The company has not remitted the TDS on the same within due date. Is this expenses to be disallowed in STI. This expenses is directly considered on valuation of closing stock.

2048


Is there any criteria for percentage define of TDS rates? and What is the major advantage of introducing DTC and GST by Central Govt?

1966


How to reconcile a Vendor who is a supplier as well as a Contractor?

1794


The Depreciation Rate for Heavy Equipments like cranes (used in the construction of bridges, flyovers etc ... ) is 30% as per the companies act. If i buy a crane for Rs. 10 Lakh and claim depreciation the cost of the crane in the 2nd year is 7 Lakh and in the 3rd year it is 4.9 Lakh and in the 4th year it is 3.4 Lakh ...... Can i re-value the crane in the 5th year to the 2nd hand market price of Rs. 20 Lakh and claim depreciation on it @ 30% ? (Cost of crane in 6th Year now is 20 Lakh - 6 Lakh = 14 Lakh )

20621


please send me andhra bank clerk xam model papers

2053


I want to know about the site where i can do online application for F form. Please suggest site address and procedure.

1975


why charges PURCHASE @ 15 % TAX RATE ?

2145


hi which form issue again ogs purches & sales ? which is the tax rat we issue c form?it's cst3% is avelabe to issue the c-form?

6219


i want to know that how much input credit we can take of service tax if our input service tax is greater than of out service tax what we should do?,,,,,,,,,,plz reply as soon as possible

1924


I am working in footwear company at Himachal Pradesh. we want to send raw material - (leather) for Job work our other branch. now my question is that will have we any permission taken from excise & sale tax deppt.

4873


Our business is an international call center. we are selling antivirus which is buying rs 200 & selling Rs 4500.what will be the purchase & sales.& what will be taxation processor to calculate tax

2148


how to calculate deffered tax, relating to company.. pls explain with examples.. also about timing differences..

1946