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+--- Thread: TURNOVER TAX (/showthread.php?tid=7558)
TURNOVER TAX - Izhar Ul Haq - 03-09-2010
IS THERE ANYONE WHO CAN HELP ME IN CALCULATION OF <font size="6"><b>TURNOVER TAX</b></font id="size6"> OR BOOK NAME FROM WHICH I MAY CALCULATE THE TAX.
HERE TURNOVER TAX MEANS INCOME TAX
AS YOU MAY SEE I HAVE MENTIONED INCOME TAX
- LapTop - 03-09-2010
Turnover par income tax bhi diya jata hay oe sales tax bhi,,,
app yahan income tax ki baat kar rahy hayn ya sales tax ki?
- ciapk - 04-30-2010
Turnover tax is the tax which is to be calculated and paid on turnover of the company wether or no a company is making profits, while income tax is required to be paid after calcuting taxabale income if available.
- Abuzar Qazi - 04-30-2010
TURNOVER tax is calculated on the net Sales(or other revenue)at the rate of .5% of net sales.. and the amount in excess of actual tax liability may be carried forward till next 3 years....net Sales means Gross Sales excluding GST,FED and other sales on which tax deducted at source falls under FTR ........Hope the answer of your question