For assesment year 2012-2013
This query is : Resolved
28 November 2012
PLEASE, check before i go for file presumptive basis... in ITR-4S.
P.Y-2011-2012
GROSS SALE: per day 3600*26= 93600
per month 93600*12=1123200
8% of 1123200= 89856
taxable income=89856
Therefore, tax payable = NIL
AM I RIGHT OR WRONGH I AM NOT DEDUCTING SALARY OF 60000/PA HOME RENT 7800/Pa AND ELECTRICITY BILL AND OTHER MIS. EXPENSES.
Thanking you
PLEASE, check before i go for file presumptive basis... in ITR-4S.
P.Y-2011-2012
GROSS SALE: per day 3600*26= 93600
per month 93600*12=1123200
8% of 1123200= 89856
taxable income=89856
Therefore, tax payable = NIL
AM I RIGHT OR WRONGH I AM NOT DEDUCTING SALARY OF 60000/PA HOME RENT 7800/Pa AND ELECTRICITY BILL AND OTHER MIS. EXPENSES.
Thanking you
28 November 2012
Yes, u are right. No expenses allowable under presumptive tax basis.
However in case of partnership firm, the remuneration to working partners and interest on capital shall be allowed and deducted subject to prescribed limit.
However in case of partnership firm, the remuneration to working partners and interest on capital shall be allowed and deducted subject to prescribed limit.
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28 November 2012
Dear Sir
If you adopt this method then you cant able to claim any expenses includng depriciation. Hence your calculation is correct.
If you adopt this method then you cant able to claim any expenses includng depriciation. Hence your calculation is correct.
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28 November 2012
Respected Sir, its Gol-Gappe Wali Rahdee of my Father ji and I want to file return online
is this income is taxable or not
and i choose code 0714 Others of service sectors.
please guide
is this income is taxable or not
and i choose code 0714 Others of service sectors.
please guide
28 November 2012
Dear Sir
If you adopt this method then you cant able to claim any expenses includng depriciation. Hence your calculation is correct.
If you adopt this method then you cant able to claim any expenses includng depriciation. Hence your calculation is correct.
Message likes :
1 times
28 November 2012
Respected Sir, its Gol-Gappe Wali Rahdee of my Father ji and I want to file return online
is this income is taxable or not
and i choose code 0714 Others of service sectors.
please guide
is this income is taxable or not
and i choose code 0714 Others of service sectors.
please guide
28 November 2012
Dear Sir
Kindly say it in english fully. i didnt get your point
Kindly say it in english fully. i didnt get your point
28 November 2012
Respected Madam,
Are eaten Chat and
Pani-Puri (GOL-GAPPE), this is on thelaa (rahdee) i means four wheel rahdee,
got it
please tell now , is this income is taxable or not and chosen code is right
Are eaten Chat and
Pani-Puri (GOL-GAPPE), this is on thelaa (rahdee) i means four wheel rahdee,
got it
please tell now , is this income is taxable or not and chosen code is right
28 November 2012
0714 is for others - service sector. It is an business & not come under the head service sector.
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