Long Period of Account

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Comments

  1. avatar says

    Hi
    I am bit confused with this example as we know that if Augmented profit is equal or above to 1.5m then it is taxed at main rate and if A.P. equal to or below to 300,000 then it is taxed at lower rate.
    However, in this example when you are considering 4 month to 31/03/2013 TTP is equal to 1,268,087 which lies between 1.5m and 300,000. This this should be dealt as marginal, but you are taking it as a large company and taxing at high rate.
    Kindly, could you please clear this point, thanks.

  2. avatar says

    when trying to compute the CT for the full 12month period ending 30.11.11, how is it that you have 4/12 in FY2010?
    i would have thought it should be 1/12, since the year wd hv started on 1.12.10 and then 11/12 for FY2011, pls explain

    • avatar says

      @mariakuforiji,

      Hey,

      Tripper me up too :o(

      It’s all to do with the Corporate Tax year which runs from the 1st April to the 31st March. The four months referred to are from the 1st December 2010 to the 31st March 2011.

      :o)

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