Hello all,
KINDLY HELP ME OUT.
I am going to appear for the first time IPCC exam in MAY 2013, so kindly help me to clear my confusion regarding Service tax & Income Tax.
QUERRY :
For calculation of TAX LIABILITY & SERVICE TAX which Assessment Year will be applicable
(i.e. AY - 2012 13 or AY - 2013 14)
SErvice tax rate will be what i.e. @ 12.36% (when normal question is asked for calculating Service Tax) or as per question asked & given.
HAI Arjun,
The assesment year is 2013 -2014, and the rate of service tax is 12.30%.
ALL THE VERY BEST............
For Income Tax AY 2013-14 and for Service Tax it is 12% (When no specific rate is mentioned in the Question).
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