DEFINE 'SALES TAX, CORPORATE TAX, PROFESSIONAL TAX & INCOME
TAX'? (please give accurate definitions dudes)
Answers were Sorted based on User's Feedback
SALES TAX IS THE TAX WHICH IS LEIVIED ON SALES COORPARATE
TAX IS THE TAX WHICH IS LEIVIED ON CORPARATE SERVICES
RENDERED INCOME TAX IS THE TAX WHICH THE INCOME DERIVED IN
AN ASSESMENT YEAR PROFESSIONAL TAX IS THE TAX WHICH IS
LEIVIED ON PROFESSIONALS EG - LAWYERS , AUDITORS, ENGINEERS
DOCTORS
Is This Answer Correct ? | 17 Yes | 7 No |
Answer / shalini.mann
i knw these are nt accurate defenation.
a tax based on the cost of the item purchased and
collected directly from the buyer
A levy placed on the profit of a firm different rates are
used for different levels of profits
profeesional tax means liabilty for those who comes under
professional tax such as CA,CS,lawyer,technical, software
services.
income tax means tax liability against the income earn by
us.
Is This Answer Correct ? | 18 Yes | 17 No |
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.
The Bank FD matured. The amount was Rs.500000, Interest was Rs.25000, The TDS was 10%, What is Journal Entry for this.
Which form we use for depositing Advance Tax
HOW TO SOLVE T-FV-1019 Invalid File Format
Can PF rate below 12%, if an employee want the deduction at lower rate ?
we are deducting tds for our clients under section 194C section. exemption under this section is Rs.20000 suppose if a client bills more than Rs.20000, then i have to deduct tds only for above Rs.20000/- bills or from the first bill onwards.please clear me with as example
Can i take service tax on freight outward.
Rs.100000/- include service tax 10.30% How will be calculate. What is Basic, 10%, 2%, 1%.
IS THERE LIABILITY OF SERVICE TAX IF WE PROCESS CATTLEFEED FOR OTHER PARTY ?
If a supplier of goods is also a Contractor doing labour work, then is it necessary to collect separate bills one for material & the other for labour? or else tell me what is to be doen?
Please advise where to enter Income tax paid to Govt. in tally and on which head account to be created///
X IMPORTER DEALER UPS BUY FROM GERMANY WANT TO SALE IN THE INDIA MARKET 100000 AND INSTLATION CHARGES 10000 & ANNUAL MAINTANCE CONTRACT 10000 WHAT THE TAX WILL BE PASS CVD E.CESS S& H . SERVICE TAX VAT HOW THE INVOICE PREPAIR.