Tax query

This query is : Resolved

Guest

Guest (Querist)

25 May 2012 good afternoon 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

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

25 May 2012 Since your turnover exceeds Rs. 100 lakhs, you are NOT eligible for benefit u/s 44AD.

You will have to maintain books of accounts and also get your accounts audited.

Your income will be computed as per the normal provisions of the Act as follows:

Turnover less: expenses

So your income will be calculated as under:

Turnover 1,50,00,000
Less: Salary 5,00,000
Less: Depreciation 10,000

Business Income = Rs. 1,49,90,000

Guest

Guest (Querist)

25 May 2012 This tax i will paid means this amt i will calculate tax 8%

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rampal Saini

Pavithra Doss

ABHISHEK RATHORE

prasanth kona

Arvind Sharma

Subscribe Now

Tax query

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Senior Executive

GST CONSULTANCY

CA Final

Manager- Finance and Compliance

Accountant