Ketan (Ass. Finance Manager) (92 Points)
12 November 2009Dear All,
By this i would like to know that as i am in Mall Industry & redering both Activity as like Taxable & Non taxable for e.g. in a particular month we have 86% nontaxable & 14% taxable income.....
How do i get credit on my expenses related to activites, can i get 100% credit on my all expenses payments or prop*rnate amount ....
Sorabh Gupta
(Manager ( Taxation ))
(877 Points)
Replied 12 December 2009
Dear Ketan
I think you shuld go for the Rule - of CCR,2004.
Either you maintain seprate books of account for both dutiable & exempted service OR you maintain single books of accounts & pay 10% of valaue of exempted goods.
But whatever option followed, it cannot be withdrawn in a year.
CAclubindia
