Provision for Service tax, Income tax and Sales tax
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Answer / Sidharth Gautam
In the context of accounting and taxation, provision refers to an amount set aside to meet future liabilities or obligations. For Service Tax, Income Tax, and Sales Tax, provisions are made based on estimated taxes payable during a financial year. These provisions are adjusted against actual tax liability at the end of the year.
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Hi All, I am working one company under contractual employee & My CTC is 9000 per month & take home salary is 8100, they are deducting 900/- as TDS per month on my salary, as i aware that, no TDS will be deduct below 160000 per year, can you plz post the answer or mail me on my mail id (itsaarmaan@gmail.com) (itsaarmaan@way2sms.com) Thanks in Advance to all. Hope you have correct answer & you will post as soon as possible.
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