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Categories >> Accounting >> Taxation


 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1905)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4370)
I renders interior Services, consider one project cost 

Scenario 1 - Material purchased on my Firm Name
Material - 300000 -     0 On party behalf
Labour   - 200000 -150000 My expenses for Labour Contracts
Profit            - 50000 My Profit

Scenario 2 - Material purchased by client
Labour   - 200000 -150000 My expenses for Labour Contracts
Profit            - 50000 My Profit

In both Profit is same Rs. 50000/-. which is beneficial for 
me in terms of turnover or tax matters.

and if I have to raise a bill to party as per both scenario, 
how it will affect bill and tax, where will I suffer loss?
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
# 1
Scenerio 1 - Consider material purchased for Rs.3,00,000 as all
utilised and so profit is Rs. 50,000/- in both cases.
Is This Answer Correct ?    1 Yes 0 No

Other Taxation Interview Questions
  Question Asked @ Answers
what is 'c' form and form 'H' and why these form used in a company. pl tell me   3
what is the rate of income tax, if a person gets 200000 per annum, what are entries in tally? what is the income tax to be deducted? Amara-Raja 4
Any body plz guide me. I have making a invoice of 4% sales tax rate but actual rate of sales tax 5%.   1
whether TDS should be deducted first or discount   2
what do you mean by fringe benefit tax???   4
which contractors does not deducted tds ?   6
what is luxury tax?   7
Our one local supplier who engaged in supplying stationery & housekeeping materials he charge Vat @4% on bills or some bills they charge Vat @5% or sometime 12.5% How it decide ..?? n how can we cross check ??   1
what is tds   6
how to enter annual maintenance service bill in account?   3
What is DSCR and how to calculate the same.   1
what is the threshold limit on contract for financial year 2008-09 TCS 3
For more Taxation Interview Questions Click Here 

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