Please tell me about TDS, VAT, CST, Service tax with latest
rate?
Answer Posted / lalit
Tds as an contractor 2.266% (exemption limit 20000/-)
professional fees 10.3% & if transiction with same company
up to 10000000/- than tds is applicable 11.33%,
interest on securities,unsecurities 11.33%,compamny 22.66%
Commision & brokage tds is 10.3% & if transiction with
same company 10000000/- tds is applicable11.33%
Rent of plant, machinery & equipment tds apply 10.3% & if
transction after 10000000/- then tds is applicable 11.33%
Rent of building, land & furnature material tds apply 20.6%
and transction after 10000000/- tds is applicable 22.66%
Value added tax 4%, 12.5% depend by material
Cst 2% w.e.f 01/06/08 for register dealer & 4%, 12.5% for
unregistered dealer de[end by material
Service tax 10.3% w.e.f 24/2/09
| Is This Answer Correct ? | 54 Yes | 8 No |
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Dear Experts, I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax. Here are the examples with expected result. Please let me know the formula on how to get the given result. Example1: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2 Expected Results are: Tax1=76.34 Tax2=83.97 Tax3=76.34 Let me know formula to derive above values? Example2: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 Expected Results are: Tax1=75.70 Tax2=83.27 Tax3=84.03 Please let me know formula to derive above values? Thanks in advance.
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