U have made a Transaction Worth Rs.1,00,000..Then We made a
down Payment worth Rs.50,000..Then the FY came to an end.
When we are calculating TAX for the FY,on which amount we
will calculate TAX,do we calculate TAX for this
transaction ? .Then NEXT YEAR do we again calculate for
Rs.1,00,000.or the remaining Rs.50,000.
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Answer Posted / sireesha
here tax invoice raised .so when ever tax invoice raise tax
amount also come into consideration .it is not depend on
the down payment.but when ever ur taking inp[ut tax that
time u have to deduct upto the payment exemption.
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