Matter u/s 44ad
This query is : Resolved
Guest
Guest
(Querist)
25 May 2012
good evenng to all experts sir
can you calculate that what will be my total tax liablity
turn over - 15000000
salary- 500000
depriciation 10000
than sir can calculate my tax liablity for the fy. 2012-2013.if my turn over upto 100 lakh than i will calculate tax @ 8% and u/s 44ad but sir turnover above 100 lakh. so plz help me sir
can you calculate that what will be my total tax liablity
turn over - 15000000
salary- 500000
depriciation 10000
than sir can calculate my tax liablity for the fy. 2012-2013.if my turn over upto 100 lakh than i will calculate tax @ 8% and u/s 44ad but sir turnover above 100 lakh. so plz help me sir
Prakash Kochar
(Expert)
26 May 2012
Income u/s. 44AD can be shown only if the turnover is below the limit liable for audit u/s. 44AB. In your case income can not be declared u/s. 44AD.
26 May 2012
Your total income will be Rs. 1,49,90,000
Tax will be calculated as per the slab rate.
Tax liability amounts to Rs. 44,56,810 (including cess).
Tax will be calculated as per the slab rate.
Tax liability amounts to Rs. 44,56,810 (including cess).
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Prakash Kochar
(Expert)
27 May 2012
Dear expert,
Unable to understand.Kindly explain the calculation for arriving income.
Unable to understand.Kindly explain the calculation for arriving income.
Guest
Guest
(Querist)
28 May 2012
good morning sir,
i have a query abt. income tax. supoose a salaried class man is total salary 240000. than my query is that supoose he rec. salary only 230000. than when i will fill return thn what total income i will show 240000 my actual salary or rec. salary
i have a query abt. income tax. supoose a salaried class man is total salary 240000. than my query is that supoose he rec. salary only 230000. than when i will fill return thn what total income i will show 240000 my actual salary or rec. salary
28 May 2012
Will Rs. 10,000 be paid to him or it has been deducted permanently (will not be paid at all)?
If it will be paid in the next year, then salary income will be Rs. 2,40,000.
If it will not be paid at all, then salary income will be Rs. 2,30,000.
If it will be paid in the next year, then salary income will be Rs. 2,40,000.
If it will not be paid at all, then salary income will be Rs. 2,30,000.
Guest
Guest
(Querist)
28 May 2012
MEANS I WILL SHOW TOTAL SALARY WHICH I REC. I M RIGHT SIR
28 May 2012
You will show total salary received if the employee DOES NOT HAVE A RIGHT TO RECEIVE THE BALANCE SALARY.
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