0
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.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
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
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?
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
List of direct and indirect taxes?
In India... the list of direct and indirect taxes.. is as following.. Direct Tax: Income tax corporation tax property tax inheritence (estate) tax & gift tax Indirect tax: customs duty, central excise duty, service tax, sales tax, value added tax (VAT), securities transaction tax
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.
Why journal entry necessary for tax?
because tax is paid to tax authorities and that transaction also need to show.
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.
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.
Which among the following taxes does not increase the price of commodity for buyers?
Income tax
4 similarities between money & commodity?
What is the difference between money and commodity? Commodity money is a sort of money that is considered as a present good. Whereas, fiat money is a future obligation as it is simply a promise to pay in the future. Payment is never made when it comes to fiat money, instead it is only discharged. But commodity money, on the other hand, completes the transaction.
