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Question { GET Engineering Construction, 12617 }
What is the Special provision for computing profits and
gains of business of civil construction
Answer
prescribed under Section 44AD of Incoem tax according to
which a person whose Gross Receipts are less than 40,00,000
can declare his profit 8% or more on his gross receipts if
he wants to declare his profit or income less than 8% then
he has to get his books of account duly audited by
chartered accountant
| Is This Answer Correct ? | 8 Yes | 2 No |
Question { 46139 }
difference Between P&L A/c and Balance Sheet?
Answer
or for a given period where as Balancesheet is Prepared for
a given date.
P&l Account take account of Revenue items where as Balance
sheet is for capital item, only revenue account in balance
sheet is the balance from P&l account.
| Is This Answer Correct ? | 37 Yes | 9 No |
what is vat?
what is excise?
what is form c & d in sales tax?
Answer
the dealer out side the state in which he resides the
effect can be understood ny looking at following example
IF Mr A Registered Dealer in Hyderabad (AP) wants to
purchase goods from Mr B a registered dealer in Mumbai.Mr
B who is selling the goods will charge VAT @ 4% or 12.5% on
the goods if Mr A issues him "C" Form then Mr B should
Charge him CST @ 2% so Mr A is SAving Tax.
Form D serves the same purpose but it has to be issued by
government
| Is This Answer Correct ? | 486 Yes | 147 No |
Question { 18163 }
You've been asked to reduce the budget by 10%. What
criteria will you use in identifying the budget reductions?
Answer
business process should be analysed in to small segments
and each segment should be further divided into procedure
and process and from these basic procedure, eliminate
unworthy area of process and procedure thus by doing this
kind of exercise for each area we can reduce our budget
with out compromising quality
| Is This Answer Correct ? | 8 Yes | 0 No |
Question { 30609 }
What is Profession Tax?
Answer
for professionals, even a self employed person is liable to
pay professional tax& even
Companies, Firms and other entities which are registered as
dealer under commercial tax dept has to pay professional
tax along with their Directors , Partners or proprietors
| Is This Answer Correct ? | 59 Yes | 3 No |
Question { 37115 }
What is Excise & Service Tax ?
What's Diffarance Excise & Service Tax ?
Answer
tax on service provided both are under Control CENTRAL
EXCISE & CUSTOMS DEPT.
| Is This Answer Correct ? | 16 Yes | 3 No |
Question { SAT InfoTech, 9662 }
Hi
May i know i 2 avoid Income Tax.I am getting 1,20,000PA
and a house rent of 5000PM,and profit from Agriculture
Income of 80,000.Is agriculture Income taken into
consideration.If so how 2 calculate further & how much will
b the Income TaxI will b getting.
Answer
if a person is avoiding income tax then he/she is liable to
Penalties and prosecution under income tax, Correct term
for this is TAX PLANNING which is correctly calculated by
many people here
| Is This Answer Correct ? | 2 Yes | 0 No |
Question { 5958 }
If i want to pay less tax,which method of depriciation
should be adopted?
Answer
charging depriciation u/s 32 is written down value method
by combinig assets in to blocks according to their
percentage of depriciation, so this is the method you have
to follow
| Is This Answer Correct ? | 8 Yes | 0 No |
how we can calculate the withholding tax for company? who
will bear the tax?
Answer
in India, if a company pays any fee, royality, commission
or brokerage to a person who is not a resident, then the
company shall deduct with holding tax according to rates
prescribed by DTAA (Double taxation Avoidence Agreement)
and shall remmit such tax to the government treasury
| Is This Answer Correct ? | 12 Yes | 3 No |
Question { 24829 }
WHAT IS MEANIN OF DEPB LICENCE UNDER IMPORT & EXPORT
Answer
incentive scheme, the DEPB Scheme consisted of (a) Post-
export DEPB and (b) Pre-export DEPB. The pre-export DEPB
scheme was abolished w.e.f. 1/4/2000. Under the post-export
DEPB, which is issued after exports, the exporter is given
a duty entitlement Pass Book at a pre-determined credit on
the FOB value.
| Is This Answer Correct ? | 94 Yes | 15 No |
Question { Saifee Industries, 38657 }
what is the differnce between sales tax and service tax?
Answer
levied on sale of service
Sales Tax is state subject whereas Service Tax is under
Central government
| Is This Answer Correct ? | 17 Yes | 6 No |
Question { Bank Of America, 9615 }
What are mutual funds and what are the best funds to buy at
this time. Why??
Answer
management Company (AMC), pools the monies of different
investor and it invest it in diversified stock of various
companies. Decison of about the choice of mutual is based
on the investor risk assuming capabilities.
Investor who are risk averse likes to invest in Equity
Oriented mutual fund as it fetches higher returns with
greater risk of loss , whereas investor who does not like
to take risks may invest in debt fund as risk is low and
return are small
| Is This Answer Correct ? | 6 Yes | 1 No |
Question { Capital IQ, 24268 }
difference between shares and mutualfunds?
Answer
assets of the company, where as mutual fund is the fund
which pools the money from investors into the stocks of
several companies based on risk & return.
Dividend is ditributed for share, but this is not in case
with mutual fund.
| Is This Answer Correct ? | 4 Yes | 0 No |
