05-04-2009, 01:46 AM
Mr. Anfal, unfortunately I donât know what is turn key contract,
But If u study Contract Law, contract dose not mean a paper issued by court signed document. Contract can be Oral.
Contract has 2 main Component, 1st Offer 2nd acceptance.
For tax purpose, It is not important how many contract you made with clients,
Important is that what type of income you drive.
If , I offer to my client to sales of goods & He accept it, it is a contract, whither it is written or oral.
At time of sale I offer to my client âI provide you delivery serviceâ & he accept it, as well as it is a contract,
So there are 2 contract but oral ,,,, what happed, nothing,,,,,,,,,
With the compliance of contract, income tax not involve.
Income tax involve when income will generate.
If, 2 person contract with each other, âthey not interfere each other businessâ
What do u think, what rate will apply of this contract.
This is not a contract of sale or contract of services, this is simple contract.
So in my opinion, u can contract how many u want.
But u should separate your income by nature or block.
But If u study Contract Law, contract dose not mean a paper issued by court signed document. Contract can be Oral.
Contract has 2 main Component, 1st Offer 2nd acceptance.
For tax purpose, It is not important how many contract you made with clients,
Important is that what type of income you drive.
If , I offer to my client to sales of goods & He accept it, it is a contract, whither it is written or oral.
At time of sale I offer to my client âI provide you delivery serviceâ & he accept it, as well as it is a contract,
So there are 2 contract but oral ,,,, what happed, nothing,,,,,,,,,
With the compliance of contract, income tax not involve.
Income tax involve when income will generate.
If, 2 person contract with each other, âthey not interfere each other businessâ
What do u think, what rate will apply of this contract.
This is not a contract of sale or contract of services, this is simple contract.
So in my opinion, u can contract how many u want.
But u should separate your income by nature or block.