I renders interior Services, consider one project cost
Rs.500000/-
Scenario 1 - Material purchased on my Firm Name
Material - 300000 - 0 On party behalf
Labour - 200000 -150000 My expenses for Labour Contracts
Profit - 50000 My Profit
Scenario 2 - Material purchased by client
Labour - 200000 -150000 My expenses for Labour Contracts
Profit - 50000 My Profit
In both Profit is same Rs. 50000/-. which is beneficial for
me in terms of turnover or tax matters.
and if I have to raise a bill to party as per both scenario,
how it will affect bill and tax, where will I suffer loss?
- 1 Answers
- 3828 Views
- I also Faced
- E-Mail Answers
Answer / rajubhalerao
Scenerio 1 - Consider material purchased for Rs.3,00,000 as all
utilised and so profit is Rs. 50,000/- in both cases.
| Is This Answer Correct ? | 2 Yes | 0 No |
Dear friends, How can we get refund of WCT?
If possible Vat Charged on Service Tax ?
explain the special provisions for computing profit and gains of retail business
What are direct taxes
What is the CST rate in India for sale of Tractor spare parts
80DD Dediction
We are a UK company selling electronic s/w licenses to customer in India. We have a PAN Number. Why is TDS being deducted on a product? Why is TDS calculated on the invoice value - surely it is supposed to be on Income and not Turnover? What is the correct TDS % deduction?
what should be the research and methodology of business taxation?
a employee has 4000/- per month what is the tds , esi, and pf
What do you understand by dissolution of firm?
what is the mean of payment of contract,subcontract and professional charges
what is use of form D, F, G, H, in Mvat
Audit 
