Answer / krishna reddy

Taxare two types 1.Direct Tax 2.Indirect Tax.

Direcet Tax Applicable on direct Income,Direct Tax Slab : 0-
160000 is Nil, 160001 to 500000 is 10%, 500001 to 800000
is 20%, 800001 & above 30%. in case of Female the up to
190000 is nil and incase of Sr.Citizen up to 240000 is nil.

Indriect Tax is not applicable direct income, indirect are
like sales tax, service tax, central excise, octrai etc.
these are indirectly we are paying the tax.

What do you mean by Commercial Tax?

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what is TDS and which apply on and its what is diffrent rates on diffrent items.

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Define salary for the following purposes 1.Entertainment Allowances 2.House Rent Allowance

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Loan or gift from NRI for business?

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can a company/firm give more than 20000 rs in cash in a day to his employee as an advance for day to day exp ( not for purchase a capital asset )

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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.

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Dear All, We are a trader and doing one E-1 sales. Supplier send the material by To-pay basis, we endorse the LR and sold to Customer. Customer has given the purchase order for Basic amount and freight amount also. That means we have to pay the freight and getting the reimbursement from customer. In E-1 sales Invoice can we show the freight amount separtely as freight ? Since the customer need the freight head should be shown separetly. Or can we raise the separate debit note for this. Is it create any tax implifications in E-1? Please claify the same at the earliest. regards Regards Thananjeyan.P

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