Taxation in Retail business

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  1. alben

    alben New Member

    I am planning to open a retail store in the franchise format,where my investments would be for the advance paid to landlord,Money spent on interiors,And then for stocks,Can anyone please explain me in detail about all the taxation involved and what are the procedures i should follow inorder to manimise the total tax paid.Also please guide me on the taxation during the store operation.
     
  2. rudrabose

    rudrabose Active Member

    For the advance paid to Landlord - that would be your Asset.

    For the amount spent on Interiors - Depreciation would be allowed to be claimed.

    Rest, tax would be levied on the profits on sale of goods.
     
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