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What else can I help you with?
What is a tax trap?
A tax trap is a tax law provision that can result from a taxpayer's loss of an otherwise available tax benefit from a transaction.
What is the source document for recording a cash sale transaction?
original tax invoice
What are the difference between tax and cess?
Tax is calculated as a percent from income/transaction. Cess is calculated on tax. Example: Income: 1,00,000 Tax: 10% Cess: 5% Tax= 10% of 1,00,000= 10,000 Cess= 5% of tax= 5% 0f 10,000= 500
Does a repurchase agreement attract tax?
What? A very muddled question or ideas on what is taxable.The tax if any is due upon each part of th transaction...not dependent on a condition subsequent... a repurchase or whatever....and how could that change the tax? Your not thinking that because you sell something and then buy it back at a later time that it wouldn't be a taxable transaction are you?
Is Transaction Tax Arizona's largest source of revenue?
Yes, the Transaction Privilege Tax (TPT) is Arizona's largest source of revenue. It is a tax on the privilege of conducting business in the state and is applied to various transactions, including sales of goods and services. The revenue generated from TPT significantly contributes to the state's budget and funding for public services.
Is there security transaction tax on commodity or not?
There is a tax similar to STT and it is called Commodity Transaction Tax. The CTT is applicable @ the same rate of 0.017% (like STT) chargable on the value of trade.
What is the meaning of Security Transaction Tax?
The tax levied on trading transaction
What is commodity tax?
This tax is 0.01 percent and it is assessed when trading non-agriculture commodity derivatives. It has the potential to affect the trading of metals, including gold and silver.
How can you calculate price?
modal price is the price on which maximum transaction od a commodity takes place.
What are a couple good examples of commodity tips?
Some of the best commodity tips are as follows: avoid problem products, coordinate your commodity investments to lower your tax bill, and choose diversified commodity baskets.
While selling or buying shares in India at what rate brokerage Service Transaction Tax Service Tax Transaction charges are charged and on what?
The Total brokerage on the share transaction in BSE is 0.55%which is inclusive of all the taxes, namelySTT (Securities transaction tax) is 0.125% [0.025% if Intraday transaction] ,when you Buy or Sell a shareService tax - 0.055%Education cess - 3% of Service taxstamp duty - 0.01%there will also be turnover tax which is very marginal.And the remaining % is the brokerage which comes to 0.35% and total taxes 0.20%.: TOTAL Transaction charge = 0.55%
What is the purpose of the international tax law?
The International Tax Law's mission is, to prevent a transaction with the intention to obtain tax advantages. This is the essential and predominant element of the transaction, taking into account the purposes of the parties and all the facts and circumstances and the specific structure and design of the transaction used by the taxpayer.
What is a tax trap?
A tax trap is a tax law provision that can result from a taxpayer's loss of an otherwise available tax benefit from a transaction.
What is tax trap?
A tax trap is a tax law provision that can result from a taxpayer's loss of an otherwise available tax benefit from a transaction.
Why journal entry necessary for tax?
because tax is paid to tax authorities and that transaction also need to show.
Which among the following taxes does not increase the price of commodity for buyers?
Income tax
What happens if a company forgets to charge sales tax on a transaction?
If a company forgets to charge sales tax on a transaction, they may be required to pay the uncollected tax out of their own funds. This can result in financial penalties and potential legal consequences for the company.
