Tax calculation
This query is : Open
30 August 2013
Respected sir/ma'am
I want to know that if sole proprietor, who owns service firm and having turnover 8Lakhs, so he is not register under service tax. So how will he pay tax on what rate? On profit or else?. And second case if turnover goes to 12lakhs and he(firm) register under service tax, so now he has to pay service tax- and after service tax, is there any liability to pay tax from profit.? I would appreciate if you provide me information about taxation for the sole proprietor having service firm. Thanks in advance.
Please reply with your valuable answer.
I want to know that if sole proprietor, who owns service firm and having turnover 8Lakhs, so he is not register under service tax. So how will he pay tax on what rate? On profit or else?. And second case if turnover goes to 12lakhs and he(firm) register under service tax, so now he has to pay service tax- and after service tax, is there any liability to pay tax from profit.? I would appreciate if you provide me information about taxation for the sole proprietor having service firm. Thanks in advance.
Please reply with your valuable answer.
31 August 2013
Service tax registration requirement once the turnover crosses the Rs.9 lakhs and service tax can be charged beyond Rs.10 lakh . based on previous year turnover
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01 September 2013
Thanks sir,
But I want to know that if service provider/Firm is paying service tax, after that also, is it mandatory for owner of firm/service provider to pay income tax. Please provide information on income tax for the owner of service provider.
Regards
But I want to know that if service provider/Firm is paying service tax, after that also, is it mandatory for owner of firm/service provider to pay income tax. Please provide information on income tax for the owner of service provider.
Regards
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