Interested to Buy Any Domain ? << Click Here >> for more details...
IF the turnover of assessee is below Rs 50 lacs but profit
declared is less than 5% of turnover . IS he subject to tax
audit?
- 3 Answers
- 6440 Views
- I also Faced
- E-Mail Answers
Answer Posted / chetan
turnover crossing 40 lacs so it will attract tax audit
| Is This Answer Correct ? | 1 Yes | 1 No |
Post New Answer View All Answers
define double entry bookkeeping
Suppose there is a computer Inst. providing a course abc and the total fees for it is Rs.10000 per annum, now this institute gives the right to another institute to provide facility of that course on behalf of it and the fees amt. is bifercated to Regd. fees Rs. 2500, Exam fees Rs.500 and tution fees Rs.7000,now the former institute gives right to later ins. to take Rs.7000 and says that the amt. of regd. fees and Exam fees i.e Rs. 3000 must be given to it plus service tax, now we have to save the former ins. from paying service tax on Amt. 3000, how can we do this?
wct amount deducted by main company .that amount will be returned Subcontractor?If yes,how process is given me.
The Depreciation Rate for Heavy Equipments like cranes (used in the construction of bridges, flyovers etc ... ) is 30% as per the companies act. If i buy a crane for Rs. 10 Lakh and claim depreciation the cost of the crane in the 2nd year is 7 Lakh and in the 3rd year it is 4.9 Lakh and in the 4th year it is 3.4 Lakh ...... Can i re-value the crane in the 5th year to the 2nd hand market price of Rs. 20 Lakh and claim depreciation on it @ 30% ? (Cost of crane in 6th Year now is 20 Lakh - 6 Lakh = 14 Lakh )
AS PER VAT AUDIT WE HAVE REFUND OF RS.25000/- ON PURCHASE OF FIXED ASSETS WHICH WE DID NOT CLAIM LAST YEAR, NOW WHAT ENTRY SHOULD WE PASS IN BOOK. ITS URGENT
What are Excise Duty rates for Fin.Year 2009-10 for Pesticides and Chemicals Industries.
CASH SALE OF Rs. 10000/- WITH TAX. THEN WHAT SHOULD BE THE ENTRY BEHIND THIS IN BOTH SIDE SALES AND TAXATION.
if i have a educational loan on my name, can i show for tax exemption on current year income tax? Is it applicable for tax exemption (educational loan)
I want to do correspondence course related for taxation, where I can learn income tax, service tax, sales tax etc. Any one can suggest from which university can I do and name of the course also.
which date Entry Tax has been started by Himachal Govt. and Please let us know the which act under Entry tax comes
What are the deductions under salary head? Name the items.
Who advance tax is the asset for company? What are the accounting entries of advance income tax
what is the difference between vat return and return for remittance on value added tax.
Please guide us about Forms and where is it will use i.e.Form C, Form h, Form F. if other form has please guide us about of that Forms?
If a person purchased goods by paying vat but while selling no vat has been collected and if he is registering his firm under vat need to pay vat after registration?
