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.
Non-Calendar Year Fiscal Years. Both Form 1120 and Form 1120S are due on the 15th day of the third month following the end of the corporation's tax year. For example, corporations with a fiscal year ending March 31 must file their tax returns by June 15. Corporations whose fiscal year ends June 30 must file by September 15; fiscal years ending September 30, by December 15. Any tax due must be paid at this time.