what is the meaning of provision for taxation

Answer Posted / ravi

some amount of profits kept as a provision for last year
can be used for provision for taxation if loss occurs in the present year and the amount which is kept for provision for taxation must be used for provision for taxation only

Is This Answer Correct ?    3 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What are the treatment & implications if party doesn't provide C Form in interstate sales transactions & also same if provide C Form.

1588


How much is the tax & surcharge % against d-1 form. on cement,steel,electrical item,RMC,

3068


what is excise duty and how can we mantain its account in outgoing and incoming of bill status.

1735


How should the personal assets of a salaried employee be shown in his books of accounts ?

1443


what was the VAT rate on inverters(home ups) in karnataka on 2016??

1211






Should WCT deduct on Invoice where VAT charged but service tax not charged as service tax is not applicable to concern vendor (vendor gross income under 10Lacs)?

4031


What is tha Central sales tax rate 2010 in andhrapradesh

2875


explain the special provisions for computing profit and gains of retail business

1857


IF XXX GOT AN ORDER FROM APTRANSCO AS WORKS CONTRACT NOW XXX PLACED AN ORDER TO YYY THAT TO SUPPLY 50% OF THE MATERIAL IN ORDER. NOW WHAT IS THE SALES TAX RATE HAVE TO CHARGE BY YYY TO XXX. NOW MY DOUGHT IS YYY IS NOT SUPPLING THE GOODS TO APTRANSCO, HE CANT CHARGE 4%, IF POSSIBLE PLEASE TELL ME THT HOW CAN HE .

2044


what is city commodity tax

1757


what data require for liability calculation under work contract tax composition scheme and regular method.

1833


A individual advocate recievs legal fees. is he liable to pay service tax @ 12.36% on it?

1731


What are Excise Duty rates for Fin.Year 2009-10 for Pesticides and Chemicals Industries.

2068


What are the excise duties in our state?

2226


Who are non resident?

858