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.
The estateâs tax year begins on the date on which the deceased person died. You, as executor, can file the estateâs first income tax return (which may well be its last) at any time up to 12 months after the death. The tax period must end on the last day of a month.