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Querist : Anonymous

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Querist : Anonymous (Querist)
09 March 2012 BUSSINESS STARTED ON 1.04.2011, TURNOVER 50 LACKS , WHAT AMOUNT OF TAX IS REQUIRED TO BE PAID UPTO 31.03.2012 U/S 44AD
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
10 March 2012 Income = 50lakhs * 8% = Rs. 4 lakhs.

From this income, deduct any investments under Section 80C and on the balance income tax will be applicable as under:

If assessee is individual or HUF - slab rate

If assessee is a partnership firm - 30%

The tax will be increased by EC & SHEC.
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 June 2012 thank u sir!
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
05 June 2012 You are welcome. You should use the thanks button to convey your thanks.
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