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1st step:- Add particular sales to calculate gross sale.
2nd step:- Deduct tax free sale and the sale which does not included in definiton of goods and exempted sale. This will result in turnover including cst
3 step:- calculate cst from interstate sale and deduct from turnover including cst (if the dealer is registered dealer and having form C then the cst rate is 2 % and local sales tax rate which ever is less.)
What else can I help you with?
What is the specific amount of canteen subsidy taxable under it act?
The exemption limit is Rs 50 /- per meal per employee beyond that it is taxable (Karan)
What is the definition of Turnover as per Income tax Act?
Turnover is not defined in Income Tax Act.Correct me if i am wrong.
What is salary under income tax act and what is tax free salary whether honorarium is a salary?
An honorarium is an ex gratia payment made to a person for their services in a volunteer capacity or for services for which fees are not traditionally required. This is used by groups such as schools or sporting clubs to pay coaches for their costs. Another example includes the payment to a guest speaker at a conference to cover their travel, accommodation, or preparation time.In Canada, honorarium is considered salary and thus, taxable income under the Income Tax Act In the case where a gift is substituted for honorarium (gift in lieu of money), it is still classified as a taxable benefit by Canada Revenue Agency. All honorariapayments are considered taxable income under the Income Tax Act of Canada.In case where honorarium is paid to individuals not resident in Canada, it is still subjected to income tax withholding (usually 15%) unless prior approval was obtained from Revenue Canada.Employment income can consist of amounts you receive as salary, wages, commissions, bonuses, tips, gratuities and honoraria. Employment income is usually shown in box 14 of your T4 slip
Difference between income tax act and income tax rule?
The income tax act focuses its concern on total income and the income tax rule focuses on which types of income are taxable. That is the biggest difference between the two.
What is the rate of depreciation of aircondition as per incometax act as on 2004-05?
As of the financial year 2004-05, the Income Tax Act in India allowed for a depreciation rate of 15% on air conditioning equipment under the category of plant and machinery. This rate is applicable for calculating depreciation for tax purposes, helping businesses reduce their taxable income by accounting for the wear and tear of their air conditioning assets.
What items were taxable under the Townsend Act?
Paper ,glass and tea ...
What is the specific amount of canteen subsidy taxable under it act?
The exemption limit is Rs 50 /- per meal per employee beyond that it is taxable (Karan)
What is the definition of Turnover as per Income tax Act?
Turnover is not defined in Income Tax Act.Correct me if i am wrong.
Is military pension taxable in India?
Yes, military pensions in India are taxable under the Income Tax Act. However, they are classified as "pension" income and are subject to taxation based on the individual's total income. Certain exemptions may apply, such as relief for disability pensions, which may not be fully taxable. It's advisable for pensioners to consult a tax professional for specific guidance based on their circumstances.
Is the failure to act as a reasonable prudent person would act under similar circumstances?
What helps determine that the voucher has supporting obligation documentations prior to certification
Which method would determine whether slavery would be banned or permitted under the Kansas-Nebraska act?
Popular Sovereignty
Is the failure to act as a reasonably prudent person would act under similar circumstances?
What helps determine that the voucher has supporting obligation documentations prior to certification
What is the definition of turnover as per companies act?
Thirdly, the term "Turnover" is not defined in the Schedule or in the Definition section 2 of the Act. The said definition can be borrowed from section 43A, though the said provision is more or less inoperative since passing of the Companies (Amendment) Act, 2000. The said definition says that "Turnover" means aggregate value of the realisation made from sale, supply or distribution of goods or on account of services rendered, or both by a Company during the financial year.
Whether honorarium is treated as salary under income tax act of India?
UGC is giving Rs 12000/- per month to a retired tescher doing research under Major Research Projects. UGC uses the word 'Honorarium' for it. Is that amount paid for doing research taxable?
What is difference between foregoing and surrender of salary?
Foregoing: waiver of salary by an employee is called foregoing of salary. Since income under the head 'Salaries' is taxable on accruel or reciept, whichever comes earlier, the entire amount foregone will be taxable in the hands of employee. Eg: an employee directs his employer to give his salary to a charitable trust. The amound given to charitable trust is taxable in the hands of employee. Surrender: If an employee surrender his salary to the central government under the Voulantary surrender of salaries act 1961, the tax on such amound surrenderd need not be paid.
Is Pennsylvania workers compensation taxable?
No. Workers compensation is completely exempt from federal tax if the payments are made under a workers compensation act for injuries occurring in the course of employment. They are also exempt from state tax. They aren't included as income.
Should workers compensation appear as income on Form 1040?
No. Workers compensation that you receive under a workers compensation act for job-related sickness or injuries isn't taxable. You don't include it as income on Form 1040.
