Answer / sumit

for income tax purpose u r income is assumed is rs 15 lakhs
net of service tax

u have to pay service tax on 15 lakh
ie means u have to charge service tax extra in u r bill
& compnay can get the service tax benefit against this
so there is no loss to the company
if compnay is manufacturing co. or a service provider
company

i want to learn income tax work please tell me about all dedutions exempations and income detail...how to calculate tax on net income

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