I HAVE TO PAY INCOME TAX PVT LTD CO. COMPANY BOOK PROFIT IS
5,00,000 (including dep.value + provision val of company
passed) HOW TO CAL. MAT 15% ON WHICH AMT PLS. HLP ME IN
DETAIL
Answer / vikas
tax payable on amount=book profit-depreciation amount
| Is This Answer Correct ? | 6 Yes | 2 No |
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Sir, An Awarder make part payment to the Contractor after deducting retention money @5%. The retention money will be paid to the contractor when the contract work is fully completed. Here my question is,when the Awarder has to deduct tax on retention money, at the time of deducting the retention money or at the time of payment of retention money when the contract is completed? Here "Tax" means Income Tax, VAT, Service Tax etc. Please reply Thanking You