Accounting head
Querist : Anonymous
I am working in software company, company had purchased wooden flooring material, this material on which account head will be.
Querist : Anonymous
Querist : Anonymous
I am confusing any time suppose advances paid to employees. how to make entries. suppose 500 employees taken a advances. each employee name would create ledger or advances to employees create head.
Querist : Anonymous
I am confusing any time suppose advances paid to employees. how to make entries. suppose 500 employees taken a advances. each employee name would create ledger or advances to employees create head.
Querist : Anonymous
Querist : Anonymous
In order to bring such Companies under the Income Tax net, Section
115JA was introduced with effect from the assessment year 1997-98.
According to this section, if the taxable income of the company thus
computed is less than 30% of its book profits, then the total income of
such assesses chargeable to tax shall be deemed to an amount equal to
30% of such book profits.
Every company has to pay a tax which is HIGHER of the following:
Mat - 18.5% of BOOK PROFIT
Income Tax as per normal provisions.
You have mentioned the old provision. The current position is as above.
Querist : Anonymous
MAT credit = MAT - Normal Income Tax
Querist : Anonymous
Querist : Anonymous
AMT (Alternate Minimum Tax) is levied on LLP (Limited Liability Partnership)
Querist : Anonymous
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