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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 (1900)
 Accounting General interview questions  Accounting General Interview Questions (2813)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4364)
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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on how much turnover did the excise duty will be implemented?   1
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The Bank FD matured. The amount was Rs.500000, Interest was Rs.25000, The TDS was 10%, What is Journal Entry for this.   11
we have sale material to party and freight paid by us. This freight charged in sale invoice than what is the entry of service tax in this case.   1
For more Taxation Interview Questions Click Here 

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