Interested to Buy Any Domain ? << Click Here >> for more details...
IF the turnover of assessee is below Rs 50 lacs but profit
declared is less than 5% of turnover . IS he subject to tax
audit?
- 3 Answers
- 6280 Views
- I also Faced
- E-Mail Answers
Answer Posted / rajbeer singh
yes
| Is This Answer Correct ? | 2 Yes | 6 No |
Post New Answer View All Answers
Beginning Balance, Dec. 31, 20xx Creditable Income Tax 211,829.00 Income Tax Payable (132,808.00) > Balance 79,021.00 ITR (1st Quarter) - Jan. 31, 2016 - Mar. 31, 20xx Normal Tax (30% of Taxable Income) 2,205.02 MCIT (2% of Gross Income) 7,865.71 Aggregate Income Tax Due (Normal Tax vs. MCIT whichever is hihger) 7,865.71 Less: Tax Credits/Payments Prior Years Excess Credits 79,021.00 Creditable Tax Withheld - 79,021.00 Tax Payable, per return (71,155.29) What should be the entry in my book to record the above transactions? Thank you!
if any civil contractor provide service to education institute, then there is an exemption for service tax liability, and he should be quoted it on its invoice, can u provide me sample invoice formats
If I have bought goods from a seller in India and finally exported it to some other country, my understanding says I have to issue form H to seller to get cst exemption. My question is wether Bill of lading is must to be given to seller or not bcos if I give bill of lading to the seller from whom i haave bought material confidential information will go to seller as bill of lading will have buyers details...pls guide how to overcome this issue.
Our Company dedduct TDS on the collection charge and claim (rate diff claim, scheme claim, collection charge means , if any party take material directly form our store our company give them frieght charge and deduct tds@10.30%). my question in what category of this type of TDS decution ? is it payment to contractor or what ?
what is the detail procedure to filling ITR-I,ITR-II AND ITR- 1V V1 IE e-filling procedure
WHAT IS THE DEPREATION RATE FOR COMPANY, EXPLAIN DETAILD WITH EXAMPLE & ENTERY , PLEASE GIVE ME THE DETAIL OF IT ON MY E.MAIL sonidilip87@yahoo.com
why VAT not charged in deemed sales bill.
what will be my tax if i suddenly got 800000 to 1000000 in my bank by chq from sale of an old house?
when i send goods out side the state against c form from gujarat to bombay which forms will have to required, where i get it & what process of to get it , please give me the answer on my e.mail sonidilip87@yahoo.com
Which is the section or rule for non submitting c forms panelty and interest
ie it possible to charge WHT and VAT on one trancaction? if yes,kindly explain the dynamics/working of both taxes
what about WCT (Work Contract Tax)
If any new form open than we are able to deduct TDS on first year
What is the SEZ formalties in cement Industry?
Provision for Service tax, Income tax and Sales tax
