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Accountancy Forum The Profession Tax v
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Final Tax Regime

 
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Final Tax Regime
Nauman
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#4
03-20-2010, 09:36 PM
As for first question the question of FTR or NTR arises because of source of income if source of income falls under FTR then whatever tax deducted will be final irrespective of the amount of profit the company eventually earns. If that profit also contains some income which does not fall under the Final Tax Regime (i.e falls under Normal Tax Regime) then you have to pay tax at the rate of 35% on that portion of profit.

For that you need you need to apportion your business expenditures to income falling under Normal Tax Regime as per rule no. 13 of Income Tax Rules, 2002 and pay tax @ 35% on that taxable income.
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Final Tax Regime - by Omeir - 03-10-2010, 08:26 PM
[No subject] - by Omeir - 03-18-2010, 06:16 PM
[No subject] - by LapTop - 03-19-2010, 02:55 AM
[No subject] - by Nauman - 03-20-2010, 09:36 PM
[No subject] - by Bilal_JF - 10-07-2011, 03:15 AM
[No subject] - by student_of_law - 10-07-2011, 03:01 PM
[No subject] - by student_of_law - 10-07-2011, 03:46 PM

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