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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 (1903)
 Accounting General interview questions  Accounting General Interview Questions (2826)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4368)
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
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What is GST..?   1
what is F form E-I form and E-II form?   2
let me know if a supplier in his invoice he has added Transportation charges & on that he is charging Vat whether vat is admissable on transportation Charges also ? Basic + Excise + Transportation charges = X amount on X amount Vat is chaged whether it is correct ( within State) Purchase. & also let me know what rule is applicable for Outside state ? HDFC 2
Please tell me about service tax? And service tax latest rate? TATA 30
what is the Income tax updated slab?   5
What is the difference between TDS and TCS? Godrej 14
when Form-16 and Form-11 issued? what is difference in these two? Sabic 2
who are liable to be registered under Vat Act   4
What is the accounting entry to be posted for TDS if the assess is Firm (or) Company (or) Proprietorship (or) Individual? eg: I (CDE & Co) paid Rs. 1,00,000/- through ICICI Bank after deducting 10% of the amount (Rs. 10,000/-) as TDS (Tax Deducted as Source) to “ABC & Co” (What entry should i pass in "CDE & Co" and "ABC & Co")   1
When we (Company) deduct surcharge of Contractor (above 10 Lakhs Individual, 1 Crore in case of Company) Pl confirm the meaning of 10 lakhs and 1 Crore. Either it means payment made to the contractor in a year by a company or one & more company (Aggreg. Income). Pl explan in detail. Maruti-Suzuki 6
what's the rate of cst applicable on computer items.   1
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