It is the wages and bonuses paid to an employee.
synonyms for "remuneration" are "payment", "reimbursement", or "compensation".
change, rejection, and uncertain rewards
{| |- | STATEMENT OF COMPUTATION OF VAT FOR THE YEAR 2006 - 2007 Rs. Ps. Gross contract receipts during the year 12,384,999.00 Add: Closing work in progress 5,270,489.00 17,655,488.00 Less: Opening work in progress 6,049,600.00 11,605,888.00 Less : Charges & expenses deductible Rs. Ps. a) Labour charges 3,944,120.00 b) Hire charges for machinery & tools 717,718.50 c) Depreciation in respect of machineries 385,375.67 d) Cost of consumables used Rs. Ps. Electricty Charges 25,400.00 Sundry contract expenses 134,402.00 Other Consumables 1,327,920.00 1,487,722.00 6,534,936.17 e) Cost of establishment and overhead charges related to labour & service Salaries & Allowances 194,600.00 Food & Refreshment 67,859.00 Maintenance of materials & machineries 849,043.00 Interest & Bank Charges 1,044,039.52 Printing & Stationary 1,858.00 Postages & Telephone Charges 53,038.00 Rent 22,150.00 Interest on Vehicle Loan 77,716.00 Travelling Expenses 64,028.00 Auditor's Remunaration 8,000.00 Miscellaneous Expenses 126,273.23 VAT Registration Fee 500.00 f) Profit in relation to labour & services 343,845.61 2,852,950.37 Ratio in relation to labour & service Ratio : (Wages) / (Purchase + Wages) 55.53 1,584,248.75 8,119,184.93 Taxable Turnover 3,486,703.07 Tax Due @ 12.5% 435,837.88 Less : Special Rebate on URD Purchase @ 12.5% 97,980.50 on URD Purchase @ 4% 5,130.08103,110.58 332,727.30 Tax Paid Input Tax Paid on Registered dealer purchases 44,389.00 Tax Deducted at Source 286,829.00 331,218.00 Balance Tax Payable 1,509.00 Add : Interest @ 27% 407.00 Balance Tax & Interest Payable 1,916.00 This may not be correct, if any body get the correct method please provide here for reference |}