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What are the Different heads of income tax act 1961? tax
rate on companies according to current budget?
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Answer / priya
1. income from salaries
2. income from other sources
3. income from capital gain
4.income from business/profession
5. income from house property
| Is This Answer Correct ? | 35 Yes | 5 No |
Answer / vikash
1) Income from Salary
2) Income from House Property
3) Income from Capital Gain
4) Income from Business/ Profession
5) Income from Other Sources
| Is This Answer Correct ? | 26 Yes | 1 No |
Answer / padma
1] Income from salary[sec.15-17]
2] Income from house property[sec.22-27]
3] Income from profits and gains of business or profession
[sec.28-44D]
4] I ncome from capital gains[sec.45-55A and sec 112]
5] income from other sources [sec. 56-59]
other sources of income are chargeable
income,inadmissible expenses ,deemed income, method of
acounting[sec 145]
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / mangesh umap
income frm salary
income frm HP
income frm Capital gain
income frm Buss/proffession
income frm other sources
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / preethi
Income from Salaries
Income from House Property
Income from Capital Gain
Income from Business or Profession
Income from Other Sources
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / venkata subbaiah
1.salaries
2.capital gain
3.profetion
4.
| Is This Answer Correct ? | 5 Yes | 20 No |
if we are going to get the refund afterwards so why we should pay in advance the excise duty? if the excise duty paid in advance then what are the benifits for the company?
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Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
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