Question { SAT InfoTech, 9646 }

Hi
May i know i 2 avoid Income Tax.I am getting 1,20,000PA
and a house rent of 5000PM,and profit from Agriculture
Income of 80,000.Is agriculture Income taken into
consideration.If so how 2 calculate further & how much will
b the Income TaxI will b getting.

Answer

your income is 120000 pa
h ra is 5000*12
= 60000
40% on basic expmted - 48000/-
50% metro city_________
taxable income 72000/-

add: agr. income 80000/-
--------
total tax.incom 152000/-

icome tax @10% on 2000*10%= 200

expemtin agr.incomeis 80000*10%=8000

so your are not liable to pay tax

Question { Student, 10667 }

What is the maximum amount to issue Form C to a dealer for
the purchase of 40 crores in several bills in a quater?

Answer

a dealer issue one quater to 1 c" form no limit required

Question { Maihar Cement, 4087 }

what is quarterly due dates and form numbers for vat?

Answer

due date is 15th of after quater ented.
form no. 17 for vat return.

Question { 4787 }

what is F form E-I form and E-II form?

Answer

form F when required a unit to nother unit stock transfer,
form E1 is a central excise return form,

Question { 4457 }

what is the difference between accrued and due

Answer

ACCRUED IS A RECEIVABLE, HIS ENTRY MADE IN B/S ASSETS SITE
DUE IS A PAYBLE , HIS ENTRY MADE IN B/S LIBILITIES SITE

Question { 4215 }

Which Entry Contain all three accounts Principal(Personal,Real, & Nominal)

Answer

RAVI A/C .....DR. 
DISCOUNT A/C..DR.
      TO SALES/GOODS A/C

(BEING SALES OF GOODS & DISCOUNT GIVEN)

Question { 4215 }

Which Entry Contain all three accounts Principal(Personal,Real, & Nominal)

Answer

RAVI A/C......DR.
DISCOUNT A/C..DR.
       TO SALES/GOODS A/C