Harshit Kabra (INVESTOR)
(Student CA final)
(1113 Points)
Replied 15 December 2016
ur last date was 30th sept 2016.
tax wil be -
250000 = 0
250001 - 500000 = 10% i.e 250000*10% =25000
500001-100000 = 20% i.e 500000*20% = 100000
100001 and upto 7400000 = 6400000*30% = 1920000
add - 3%of (1920000+100000+25000) = 2045000+3% = 2106350
penalties and late fle penalty and advance tax penalty -
penalty for paying tax and advance tax = 1% p.m. of 2106350 .ie. 1/100*2106350*2.5
penalty for late filing may be 5000 rs.
thnks
sivakumar
(Accountant)
(58 Points)
Replied 16 December 2016
Hi,
Thanks for your valuable reply,
In this case his business turnover of Rs. 74,00,000/- what about deductions of exenses.
We have to calculate? hole income Rs.74,00,000/-
CAclubindia
