Interested to Buy Any Domain ? << Click Here >> for more details...
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
- 3690 Views
- I also Faced
- E-Mail Answers
Answer Posted / 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 |
Post New Answer View All Answers
1. Why some companies are not deducting the TDS or WCT on their clients Invoice.,? 2. How companies are getting exemption from Deduction TDS or WCT. ?. 3. What are the procedure for not to deduct the TDS or WCT on client invoice while making payment for their Invoice.?.
why is service tax set off is consider while calculating wct tds
Is there any change in the section 80E for the financial year 2009-10
I AM A/C'S MANAGER IN CONSTRUCTION CO.WE TAKE TRANSIT MIXTURE ON RENT BASE FROM OUTSIDER.THE SUPPLIER CHARGE VAT ON THAT MACHINERY @ 15%,IS IT TRUE? IF YES PL.SAY ME WHICH SECTION APPLY UNDER THIS LAW OR NOTIFICATION OR CIRCULER FROM COMMERCIAL TAX DEPATMENT.
witch taxes are calculate in CENVAT for Gold ornaments ?
Dear Experts, Please advice, what are the rate of WCT , and is it differ from individual to companies in case of deduction ( if i am the deducting person)
What is excise & service tax? What is the difference?
Define assessment year.
Define financial year?
What is turnover limit for Auditing of Service Tax, VAT, Income Tax, Provident Fund, P. Tax and WCT? Please mail me at gautam_ch2 @ rediffmail.com or call me at 09831707812.
Dear Sir, I am working in account department. I want to know, Why service tax rate is change in every type of service. For Example - Rent Bill Service Tax Rate - 10.30% Taxi Bill - Service Tax Rate - 4.12% Why it change
the TDS rates and Income rates are equal in calculation of the salary and please send the IT slab rates for the employees and comapnies.
Is there any criteria for percentage define of TDS rates? and What is the major advantage of introducing DTC and GST by Central Govt?
Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
How can done the Accounting of WTC ? OR WTC treat (Take) like Service tax credit?
