Turnover Incentive Service Tax -Regarding
This query is : Resolved
15 February 2009
I have purchased 1 core in the year 2007-08 for that i received Turnover discount or incentive Rs.70000/. Now one of friend said that i have to pay service tax for that 70000/- is it correct?
Please replay me as soon as possible
Please replay me as soon as possible
19 April 2009
Your enquiry and the transaction is not clear.
But a fair reading tells us that you are enquiring regarding the applicability of service tax on TOD.
Since you are an individual, and your income from the taxable service is below the threshold limit of 10 lacs ( it is assumed that you have not had any other income from any other taxable services provided by you) no service tax is payable by you on the said receipts.
But a fair reading tells us that you are enquiring regarding the applicability of service tax on TOD.
Since you are an individual, and your income from the taxable service is below the threshold limit of 10 lacs ( it is assumed that you have not had any other income from any other taxable services provided by you) no service tax is payable by you on the said receipts.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Traces submitting correction statement error
- Banking Related Issue
- TDS on rent received on hardship compensation being rent on redevelopment of building
- NRI INSURANCE ADVISOR
- Reporting in TDS return
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- IT returns for fresh job holders
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
