What's the difference between Income Tax and P.Tax?
Answer / kumaran
Income tax is a direct tax which is payable on income earned
as per the income tax slab. Professional tax is a tax on
profession, collected by the employer from Employee salary as
per the statement government rule applicable time to time.
Is This Answer Correct ? | 2 Yes | 0 No |
if vat include in purchase how to create entry in tally 9.0 for example: A item price rs. 100 include vat 13%, In tally any function we put item price 100 then vat 13% automatic reduce from price ( item price rs 87 & VAT rs 13)
Whether sales tax is chargeable on imported goods.
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I have doubt on Input VAT & Output VAT (incoming vat / outgoing vat) I have a HMS software, where we have interface to tally erp. When we import the transactions to Tally from HMS (Hospital Management System) All the purchases what we do for a period, the tax paid on these purchase are showing as out going vat. Similarly when we do the sales of those purchased items through HMS, tax collected from customer is showing as incoming vat. Is these are correct terms what they had mentioned in HMS? Please help me out.
Whether We can Get the Refund of Service Tax Paid Wrongly to the department.We are not suppose to pay the tax and we knew after that we can adjust that servies tax what we have collected from our client aganst services received from our suppliers.
If i want to pay less tax,which method of depriciation should be adopted?