With complicated electronic equipment, there is about a 10% cost for a service contract. Service companies can. service at that rate and still make a profit. That should be the upper limit of the special equipment maintenance ratio.
If your income is above the exemption limit of Rs. 2,50,000/- last date of filing of Income Tax return is July,2017 for the Financial Year 2016â17. If your income from business is exceeding Rs. 1 Crore or from profession it is exceeding Rs.25 Lakhs last date of filing of Income Tax return is September, 2017.
1 Taxpayers must file an extension by this date to avoid late filing penalties if they owe tax. 2  Also the last day to claim a refund for tax year 2011 filers. 3  October 15th: The last day on which a 2014 tax return can be e-filed.