Hello
iam planning to start a new Businessto act as a vendor for selling Newspapers and Magazine's,
Could someone put some light, is there any kind of Tax / charges charged, (Service Tax, Sales Tax, VAT, IncomeTax, Custom Duty, or any kind of TAX or Charegs) which i need to pay to the Govt on sale of every product.
iam finding it very defficult to get the Right Answer
If your turnovr is liketly ot exceed Rs.15lacs per annum, then maintain books of Account and file return of income annually if your total income exceeds Rs.1.60 lacs (1.80 lacs) wef 1-4-42011.
if the products are registered under news paper society act, then there is no tax on sale of such items.
incometax is payable on your profit portion, not on sales.
Does a magazine can also get registered under Newspaper Society Act
| Originally posted by : Ghanshyam | ||
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Does a magazine can also get registered under Newspaper Society Act |
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most of magazines are registered, for details look at the back cover pack of magazine.
Jawahar and Associates Chartered Accountants
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