What tax rate should a person pay, if his only source of income speculative business if so how effectively avoid such by?
Prabhu Rajarathinam (1 Points)
19 February 2017What tax rate should a person pay, if his only source of income speculative business if so how effectively avoid such by?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160317 Points)
Replied 19 February 2017
What sort of speculative income it is? Generally all such business incomes are assessed under head PGBP. Whenever it exceeds basic limit, its taxed at slab rate. If exceeds threshold limit or profits declared less then 8%, audit u/s. 44AB is to be carried out.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
