1. WELCOME

2. Computation of Taxable Income From Business of Mr
Computation of Taxable Income From Business of Mr. X for the Assessment year
Presented by – Dr. Vijay Mane

3. Computation of Taxable Income From Business of Mr
Computation of Taxable Income From Business of Mr. X for the Assessment year
Particular
Rs.
Net Profit As per Profit & loss A/c
Add :- Disallowed expenses
Income Tax, Advance Tax, Wealth Tax, Profession Tax, Provision for tax, Property Tax, Sales Tax due.
Donation, Gift, Charity, present
Interest on Capital, Preliminary Expenses
R.D.D., Reserve for future losses, Reserve for Discount
Capital Expenditure
Purchase of Asset or Commission on purchase of Assets.
Personal Expenses
Drawing, House hold expenses, Domestic expenses, life insurance Premium [debited in Profit & loss] Proprietor salary
Los on sale of Asset, loss by theft at home, loss by fire
Expenses in House Property
Municipal Tax, Repair’s to House Properly Interest on loan taken for House, Collection Charges.
penalty & fine paid by Assesse
depreciation debited to the P & l A/c
XXX

4. Particular
Rs.
Less :- Income Credited to Profit & loss A/c
/Income chargeable under other head
Income from House Property
Interest on Govt. security, Interest on Bank deposit, Interest on Company Deposit, Interest on Post office saving Bank A/c
Dividend from Companies or dividend on shares
Profit on sale of Asset & Invest
Winning from lottery
income tax & Wealth Tax Refund
Gift received from Relative Person
Agriculture Income
Depreciation as per Income Tax Rule
Taxable Income from Business
XXX

5. Computation of Taxable Income from Professional of Advocate for the Assessment year
Particular
Rs.
Professional Earning
1. Consultation Fees
2. Examiner Fees
3. Professional Fees
4. Gift from Client
5. Arbitration Fees
XXX

6. 1. Less : Allowable Professional Expenses
Particular
Rs.
Professional Earning
1. Less : Allowable Professional Expenses
Salary to Staff/Office Salary/Salary to Assistance
Membership Fees & Subscription
Rent of Chamber
Car Expenses related to Profession
Bonus & Gift to Staff
Telephone & Typing Charges
Printing & Stationary
Sundry Expenses / General/Miscellaneous /Other
Magazine Subscription & Cost of Journals
News Paper’s & Periodicals
Professional Tax
Dep. allowed as per Income Tax Rule
Taxable Income From Profession
XXX

7. Computation of Taxable Income from Professional of Mr
Computation of Taxable Income from Professional of Mr. Charted for the Assessment year
Particular
Rs.
Professional Earning
1. Audit Fees
2. Gift & Present from Client
3. Examiner Fees
4. Tax Consultation Fees
5. Professional Fees
6. Tution Fees/ for Private Classes
Less : Allowable Professional Expenses
Office/Office Salary
General/Sundry/Office/Miscellaneous/Other Expenses
Membership, Subscription & Fees
Car Expenses related to Profession
Printing, Stationary, Postage
Typing Charges & Telephone Charges
Interest on Bank Loan
Repair’s Expenses
News Paper’s & Periodicals
Travelling & Conveyance
Office Electrical & Water Charges
Professional Tax
Taxable Income From Profession
XXX

8. THANK YOU