Answer / vijaya kumar

Basic, all allowances, perquisites, bonus, commmission, and
other monitory or non-monitory benefits given by the
employer in addition to the above mentioned benefits are
the components of salary for Income tax purpose. The second
part is not clear, but the amount received by the assessee
as salary a part of is only taxable.

Who are non resident?

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Normally we sale Black Pitch on 2% CST for OMS. Now i am going to make transaction from MH to GUJ with full tax. Pls confirm % for full tax from MH to GUJ

1 Answers   Cargill,

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is tax good or bad?

11 Answers  

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Deferred taxation is a part of which equity?

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can a company deduct tax at source on thier telephone and broadband billing? if yes then what will be rate of TDS?

5 Answers   KIP Financial,

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1.meaning of income tax,service tax,central excise,esi7pf 2.methods of filling above taxes? 3.methods of payment of taxes?

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Sir among the answers given by different persons, different answers are posted for the same question? regarding calculation of ESI & PF calculation whether on Basic or Gross salary? could u suggest the exact answer from the expert Pls.

2 Answers  

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i m agent of reliance life insurance i have sold one traditional product of premium size 10,000/- rs and comission rate is 18% what will be net comission will be recd by me after deducting service tax and tds ?

6 Answers   Bajaj Allianz, Reliance,

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I have purchase one air ticket from a travel agency. They allow 3000 rupees ticket to me for the total ticket purchase.But they debited staturoty TDS to me. I ask them for the legibility of this, they replaied they had received commission from airlines and airlines catch TDS from them and naturally it comes down to sustomers also. But my doubt is Airlines are allowed commission to Travel Agency and Travel Agency are not shared commission-they allowed discount. So is this TDS is applied for me or not?

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Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.

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if i am running a tank lorry and the income of the tank lorry comes under haryana VAT 2003?

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If i want to pay less tax,which method of depriciation should be adopted?

4 Answers  

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