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Taxation Interview Questions
Questions Answers Views Company eMail

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.

ABC,

1695

how much tds deducate on hotel party arrange by company

Unique Engineers,

1958

Sir, We purchased coal from NCL on CST basis. An incentive is paid on the basis of performance basis of NCL. NCL Raise there incentive bill for Rs. 1000+CST2% Rs.20 Total Rs. 1020/-. But As per Our Calculation, Incentive bill should be Rs. Basic 900+18 (CST)total Rs. 918. We argue and disputed and paid only Rs. 918/- . After Some time they also agree that incentive amount should be Rs. 900+CST but Now they revised the bill like this Basic Incentive Rs. 900+CST Rs.20/- (Original Tax value). And now they are demanding C for with CST 20/- but our pleas is that we are not liable for the mistakes made by the NCL and will issue C for for Rs. 18 Only. Now They are demanding C for for difference of Rs. 2 of CST. My Question is what should be the actually value of C form for CST ie. Rs. 18 or 20. considering the fact that we accounted only rs. 918/- in books and disputed is resolved after one year for basic value.

NTPC, XYZ,

1858

WE purchase Firewell for our office Rs.26500/- the vendor charge 5% vat on 26500=1325 and S.Tax 14.5% on 26500/- =3843 is it is possible please clarify

1703

In wct limit is Rs.5lac if vendor provide bill below 5lac wct will applicable or it aggregate I need deduction of wct 5lac slap

NSCI,

1719

A newly start business person purchase material from out sate by paying advance tax to commercial tax dept. And collect road permit for purchasing the material which consider the cst-form. But he not registered in that state. Where he is paying adv.Tax -if he eligible for the c-form.

1 2789

In our bodyshop wct tax is 13.05% on the whole Labour charges( including opening fitting ,repairing ,painting. Is this justified?

Rudra Automart,

1564

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 )

Gammon,

3 4913

Can Form H be given based on exicse invoice copy

TATA,

1 2760

i want to learn income tax work please tell me about all dedutions exempations and income detail...how to calculate tax on net income

ABC,

1865

How to show reject material in ER1

1644

assessee is a developer. menthod of accounting- mercantile. he sold a flat to party , registration has been done in financial year 2012-13. but he has taken the sale next financial year on the ground that one cheque has been credited in the next financial year. can the assessee's claim can be considered for taxation purpose

1566

Total amount inclusive of tax is 1,00,000 1) ST @ 14.5% on 30% of value 2) COT @ 4% on 100% of value Please find the answer?

GW,

1 2517

Testing charges bill given for Rs. 32,000/- but not added service tax in this bill. So, How much TDS will be deduct

Suraj Constructions,

1 2934

how many form 38(Road permit) can issue in one month or in one time

SR Industries,

1 2818


Post New Taxation Questions

Un-Answered Questions { Taxation }

Rules for filling Income Tax return for an Individual ?

1932


procedure of service tax

2084


How can deduct tds from auction cases (timber)

1945


HOW THE INTEREST WILL BE CALCULATED IF WE MAKE INCOME TAX RETURNS LATE AND WHAT IS MEANT BY YEAR END?

2434


How to calculate entry tax ??(In karnataka) Pls advice me complete computation details.

8501


where is applicable WCT & what is limitation for applicable it on company.

1820


what is the exise limit in granite manufacturing

1910


hi which form issue again ogs purches & sales ? which is the tax rat we issue c form?it's cst3% is avelabe to issue the c-form?

6168


i want to learn income tax work please tell me about all dedutions exempations and income detail...how to calculate tax on net income

1865


should pranav mukherjee has done things good, by giving burden to vodafone a huge tax liabilty.....it will not affect our fdi???

1979


What is the procedure to take modvat and its form number

2461


How to calculate long term capital gain

2128


anybody pls tell me about the service tax

2036


WHAT IS THE PROVISION OF TDS RECEIVABLE AT THE TIME OF YEAR ENDING GIVE THE EXAMPLE WITH ENTERY ON MY E.MAIL sonidilip87@yahoo.com

3129


How do you determine as to what TDS has to be deducted from each vendor supplying us the goods and doing labour work?

1972