01 April 2010
Mr.x renders masonry & sanitary services/bldg repair services and receives labor charger his gross-turnover comes to around 30-35 lacks, and net profit to around 3-4 lac, he receives the labor chrgs with TDS.
HE FILES INCOME TAX RETURN ONLY IS HE ATTRACTED BY ANY OTHER TAXES eg.service tax etc.
02 April 2010
Mr.x's business profile in a lay man language: He purchases every material required in building repair work + purchases bathroom sanitary materials. He has labours on wage basis and simply performs the building repair works with the purchased materials employing his waged labours.
CAclubindia
