Income tax for an optical business
How to declare the income of an optical business for the purpose of paying the tax? know that its not a company, but a sales unite
Replies (5)
As in what is the status of assessee if not a company. And how is the income earned like commission or so?
Please clarify as exact point of your question is still not clear?
I would be opening an optical store soon. And its going to be retail shope. Which type of tax I will be paying to the govt? sales tax, VAT..Etc? Please explain
Would it be a proprietary business or a partnership business. In personal taxation, income tax. In case of business, income tax, vat, service tax, profession tax
It's going to be a sole proprietorship business.
As I said earlier, you will be subjected to vat, service tax, profession tax and your personal income tax return
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