HOW A PARTNERSHIP FIRM CALCULATE TAX ON INCOME
Answer Posted / anil prajapti
Income Tax Rates for Partnership Firms
Assessment Year 2010-11
Flat rate of tax at 30% on the total income of the firm.
Surcharge: Nil
Education Cess: 2% of the amount of Income Tax
Secondary & Higher Education Cess: 1% on the amount of
Income Tax
Assessment Year 2008-09 and 2009-10
Flat rate of tax at 30 % on total income of the firm
Surcharge: 10% of Income tax (after rebate u/s 88E, if any)
if the net income exceeds Rs. 1 Crore. It is subject to
marginal relief in cases where income is marginally
exceeding Rs. 1 Crore.
Education Cess: 2% of the amount of Income Tax and the
surcharge
Secondary & Higher Education Cess: 1% on the amount of
Income Tax and the surcharge
| Is This Answer Correct ? | 22 Yes | 4 No |
Post New Answer View All Answers
please let me know how to show the sales to unregisterd dealers in tn ctd new portal and in which annexure to select for filing sales to unregisterd dealers, cash / consumer sales
What is the SEZ formalties in cement Industry?
Pls.tell me some website name who display practical question & answers of accounting work. like tds, service tax entry and some more. also provide important knowledge of all taxes.
ie it possible to charge WHT and VAT on one trancaction? if yes,kindly explain the dynamics/working of both taxes
What are the various forms used for VAT?
I raised a service tax invoice against a client on which i charged service tax and without receiving any sum from client a deposited service tax on good faith but now client refuses to pay sum . so please, tell me what should i do.
can we purchase software agaist Form under In the telecommunications network; or
How to reconcile a Vendor who is a supplier as well as a Contractor?
'A' is running a manufacturing set up. 'B' sends raw material (after paying CST) to 'A' for manufacutre of his specified product and 'A' keeps 'B's stock in his godown. Can 'A' buy this material from 'B' by raising a CREDIT MEMO and in the books regularises by passing Journal Entry Dr.Raw material inventory and Cr. 'B's Account.
WHAT IS THE PORVISION OF INCOME TAX & SELF ASSESSMENT TAX AFTER AUDIT IN PVT LTD CO & LTD CO , PLEASE GIEVE ANSWER IN DETAIL WITH ENTERY TO MY E-MAIL ADDRESSS
what is highseas purchase and sales? how is custom duty calculated? what are the criteria for a person dealing in shares comes under tax audit? whether all equity oriented fund are eligble for stt?
interest paid to bank rs. 15000 in connection with overdraft obtained for paying dividend.
F FORM RECEIVED FROM SUPPLIER, NOT DEDUCTED GOODS RETURN AMOUNT THEREAFTER WHAT IS THE PROCEDURE DONE BY DEALER?
where is applicable WCT & what is limitation for applicable it on company.
what is the percentage of vat like 4 % , 12.5 % etc ? how can do closing stock valuation ?