23 April 2014
Mr. X is a distributor for AIRCEL to sell SIM Cards, RCVS, etc. How can he compute his income tax liability? What books of accounts should he maintain for this purpose?
23 April 2014
you can maintain sale , purchase, exp, cash, bank related doc and making accounting of that and make closing stock valuation as n 31.3...
23 April 2014
your gross income is the difference between the cost charged by the aircel and the price at which you sell this sim-cards etc to the customer. thereafter charge indirect expenses like electricity, transportation, communication (internet/phone) etc to arrive at net profit. rest maintain books as suggested by Rupesh.
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