Answer Posted / raju
The following are the five heads of income under Income Tax
Act 1961
1) Income from Salary
2) Income from House Property
3) Income from Business/Profession
4) Income from Capital Gains
5) Income from Other Sources
The above all incomes added - comes a figure is called the
Gross Taxable Income
then deduct the external deductions u/s.80
We will get the Taxable Income
Afterwards we will compute the tax on taxable Income
Ok
| Is This Answer Correct ? | 43 Yes | 2 No |
Post New Answer View All Answers
My client has not filled income tax return for ay-2013-14
What is income tax? How is it calculated?
Should we give C form with Freight, Insurance, P&F after CST?
cst rates
Dear Sir, I am working in account department. I want to know, Why service tax rate is change in every type of service. For Example - Rent Bill Service Tax Rate - 10.30% Taxi Bill - Service Tax Rate - 4.12% Why it change
what is the percentage of vat like 4 % , 12.5 % etc ? how can do closing stock valuation ?
Dear Sir/Mam Please send me a return under delhi vat for learning purpose Thank & Regards Sonu Kumar
How to calculate entry tax on kraft papers format in excel under Assam Entry tax rules?
How to adjustment of CST ? and also tell me about C-Form affairs ?
I have some queries about Service Tax, I am working in a Insurance Broking Company. 1) We have raised one bill on 25.04.09 for the services provided by us in the month Mar, 09 Now We received the chq on May, 09 followed in the Month of June,09. When the service tax is actually payable in the month of received of Service tax amount or in the month of services actually provided by us (Mar09) 2) Can we take 100% credit of Service Tax Input paid to those who provided services to us. Suppose Service Tax payable is Rs. 100/- and Service tax charged by the other firms/company Rs. 80/-. The question is That can we deduct Rs. 80/- (already paid). Now Net ST payable would be Rs. 20/- or other percent of service tax input is available 3) What is the rate of interest for Service tax if not paid on time. Pls help me out asap
How is income tax calculated?
what is the difference b/w deferred tax exp and defeered tax liab? should Deffered Tax expense be deducted b4 computing Net profit?
My Total CTC is 12500(not gross salary), i am living in Mysore(non-metropoliton city) what will be the take home salary after deduction? thanks in advance.
Does the tax liability of an individual get affected due to his residential status? If yes, explain.
can we do manual tds return file or r-tds is complusry? if we can do manual tds return file, where i have to go for return file. like we go to income tax department for Income tax return file in manula tds case.
