sir, kindly guide on income tax rate for calculation on amt. rcvd. on a/c of the carriage of goods / passenger/live stock ?
as per my view
tax @ 7.50% of amt. receivable
than 41% of 7.50%
than 2% of 41% or any other rate?
Menu
it return u/s 172(3)
Replies (1)
T is the total amount receiveable by the shipping bisiness.
7.5% of T is Income.
40% of 7.5% of T is Tax.
Add education cess/ surcharge as applicable. Apply rate of non resident individual, if shipping business is done by individual.
Recent Topic
- GPF AND COMMUTED PENSION RECEIVED
- How do I choose the correct trademark class? Can I
- Error in totalling salary amount in AIS
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
- Proprietor have 2 business. One is registered unde
Related Topics
CAclubindia
