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What is Tax Refunds ?
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Answer / ankit jain
tax refunds are when the prson liable tp pay tax has paid
extra amounts and is liable to get credit or cash refund of
extra amount of tax paid after furnishing the amount of tax
paid.
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / n.ramanathan
tax refunds means when the assesee liable to pay tax, and the assessee when pay to extra amt to tax department by the assesee liable to get cash or credit the amt.
| Is This Answer Correct ? | 2 Yes | 0 No |
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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.
Audit 
