Tax slab

Tax Slab of Individual will be applicable

As this is a prop. concern it will be taxed under the individual tax slab.There is no such firm rate as u mentioned .The income of the prop . concern will be the income of the proprietor.

Individual slab

Individual slab will be applicable since the income of propreitor is his income only

if the 4th letter of PAN is "P" than individual slab will be applicable.

:)

Dear All,

Thank u for your valuable suggestion, but one morething i am trying to discuss, there are three type of PAN like individual, firm & company.

For Individual return income slab rate will be applicable.

For firm tax will be charged 30% of the income.

For company tax will be charged 30% of the income.

to recognise the PAN whether that is individual/Firm/Company following procedure may be taken

Example PAN     : >      APWPD7170S

                                       If  coloured alphabet will come         P         then, this is a individual PAN

                                       If  coloured alphabet will come         F         then, this is a FIRM

                                       If  coloured alphabet will come         C         then, this is a Pvt. or Ltd company

and tax rate will be accordingly charged

Need your comment after considering my above logic.

Regards

Bibhuti

There are 2  more types of PAN no.

if the 4th Letter is H, its known as HUF (Tax rate/slab of Individual Assessee)

and if the 4th Letter is J, it will be AOP, BOI or FIRM.. (tax rate ..i think 30%)

:)
 

Mr. Bothra is right there are two more types of PAN - of HUF and AOP/BOI.

But they are assessed as an individual (not at flat 30%)...their tax slab is that of a normal male resident in India....

ohk..

thank you for the update and correction @ Kirti..


:)

Tax slab of individual will be applicable........

individual tax slab vil b applicable :)

yes,individual

agree with all

Individual Slab...........

if the fourth letter in the PAN is P then it will be charged under individual slabs