Calculation of taxable income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 October 2015
hello experts,
we have a parking management firm. we have different contracts with malls for collection of parking charges and we pay a monthly rent to the malls.
my query is if my total cash collection is X per month then the service tax to be paid on the total collection X will be
(X-(X/1.14))
now when we talk about company turnover and taxable income which amount is to be considered i.e
X-service tax or Whole X
we have a parking management firm. we have different contracts with malls for collection of parking charges and we pay a monthly rent to the malls.
my query is if my total cash collection is X per month then the service tax to be paid on the total collection X will be
(X-(X/1.14))
now when we talk about company turnover and taxable income which amount is to be considered i.e
X-service tax or Whole X
26 October 2015
It is x-service tax.
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