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Tax deduction at source on contracts

 
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Tax deduction at source on contracts
LapTop
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#9
05-04-2009, 01:46 AM
Mr. Anfal, unfortunately I don’t 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 “I provide you delivery service” & 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, “they not interfere each other business”
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.
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Messages In This Thread
Tax deduction at source on contracts - by Adil.Iqbal - 03-27-2009, 02:15 AM
[No subject] - by m_zeeshanuddin_sa - 03-27-2009, 02:26 PM
[No subject] - by aamirmehmood - 03-28-2009, 04:56 PM
[No subject] - by aamirmehmood - 03-28-2009, 09:12 PM
[No subject] - by LapTop - 05-02-2009, 02:08 AM
[No subject] - by Anfal Shabbir - 05-02-2009, 07:18 PM
[No subject] - by LapTop - 05-02-2009, 09:35 PM
[No subject] - by Anfal Shabbir - 05-04-2009, 12:50 AM
[No subject] - by LapTop - 05-04-2009, 01:46 AM

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