I have a used mobile selling business.i purchase a used mobile from used mobile customer and sale it to another customer.if i purchase used mobile from used mobile customer Rs 1000 and sale it to another party 1200. What tax i paid to Govt.and how I show my income to income tax department
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Used mobile seller tax calculation
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Estimate your total turnover and net income of the year, if more than basic limit of 2.50 lakhs, file itr and pay tax as per slab rate.
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