TURNOVER TAX

[Izhar Ul Haq]

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]

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]

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]

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