How to fill in itr of a film producer-film not completed ?
CA Abhishek Singh (practice) (2105 Points)
23 March 2013CA Abhishek Singh (practice) (2105 Points)
23 March 2013
shikhar
(LEARNER )
(1394 Points)
Replied 23 March 2013
Helloo friend......
I THINK IT IS A CONTRACT. TO PRODUCE A FILMS. SO IT WILL BE TAXABLE, IF WORK IS CERTIFIED AND CASH IS RECIVED...........(if contract is completed in following percentage)
0-25%.....NIL
25%- 50%......1/2 of NOTIONAL PROFIT X CASH RECIVED/WORK CERTIFIED
50%- 90%.......2/3 OF NOTIONAL PROFIT X CASH RECIVED/ WORK CERTIFIED
NOTIONAL PROFIT= VALUE OF WORK CERTIFIED + COST OF WORK UNCERTIFIED - EXPENDITURE TILL DATE......
THANKS
SHIKHAR
Live class on PF & ESI Enrollment & Returns Filing(with recording)