scope of income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2011 1)Please clarify me the interest on employer contribution to pf is taxable in excess of 8.5% or 9.5%?
2)under income tax and wealth tax in case of firm who is liable to pay tax- individual partners or firm on behalf of partners and at what % ?

plz rply me...

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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18 May 2011 AS PER RECENT NOTIFICATION FOR INTEREST ON OR AFTER 1-9-2010 REFERENCE RATE IS 9.5 PERCENT
FIRM IS LAIBLE TO PAY TAX
ON ITS INCOME

CA MANOJ GUPTA
JODHPUR
09828510543

Nikhil Kothari

Nikhil Kothari (Expert)
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18 May 2011 1) Interest on employer contribution to pf is taxable excess of 9.5%

2)Firm is liable to pay tax @ flat 30% plus surcharge (if any) plus 3% cess.

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