Incomtax... computation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 October 2014
dear sir,
total income par income tax ki calculation kis tarah hoti hai. slab ke according ya direct 30 %,whenever my income is aboue 1 crore. and my firm is individual propritership firm. and how to calculate incomtax if my firm is partnership firm.
.
.
for example:- 1.my individual firm's income:- 10500000/-
2. my partnership firm's income:- 10500000/-
please give me calculation statement as soon as possible.
thanks
kesahv parashar
7737197276
total income par income tax ki calculation kis tarah hoti hai. slab ke according ya direct 30 %,whenever my income is aboue 1 crore. and my firm is individual propritership firm. and how to calculate incomtax if my firm is partnership firm.
.
.
for example:- 1.my individual firm's income:- 10500000/-
2. my partnership firm's income:- 10500000/-
please give me calculation statement as soon as possible.
thanks
kesahv parashar
7737197276
CA Tejas Mistry
(Expert)
01 October 2014
Case 1:
Individual Firm Having Income of 10500000/-
Tax Will be calculated as per slab rate
after calculating income tax you need to charge surcharge @ 10% and then 2% Education Cess on Tax and Surcharge and 1 % SHEC on Tax and Surcharge
2. Firm Having Income of 10500000
Firm is taxed directly 30% of income
and 10% surcharge and then 2% education cess and 1% SHEC
Individual Firm Having Income of 10500000/-
Tax Will be calculated as per slab rate
after calculating income tax you need to charge surcharge @ 10% and then 2% Education Cess on Tax and Surcharge and 1 % SHEC on Tax and Surcharge
2. Firm Having Income of 10500000
Firm is taxed directly 30% of income
and 10% surcharge and then 2% education cess and 1% SHEC
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