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    Sumana Podder: Taxation Assignment - 1

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    akash dey
    This document contains details of a taxpayer's business income for the assessment year 2019-2020. It provides information on the profit as per the taxpayer's statement, non-allowable expenses that are added back, allowable deductions that are subtracted, and non-business income that is subtracted to arrive at the total business income of Rs. 5,61,833. Key details included are the taxpayer's name, ID number, program of study, and date of submission for their taxation assignment.

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    Sumana Podder: Taxation Assignment - 1

    Uploaded by

    akash dey
    45 views3 pages
    This document contains details of a taxpayer's business income for the assessment year 2019-2020. It provides information on the profit as per the taxpayer's statement, non-allowable expenses that are added back, allowable deductions that are subtracted, and non-business income that is subtracted to arrive at the total business income of Rs. 5,61,833. Key details included are the taxpayer's name, ID number, program of study, and date of submission for their taxation assignment.

    Original Title

    Income from business

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    This document contains details of a taxpayer's business income for the assessment year 2019-2020. It provides information on the profit as per the taxpayer's statement, non-allowable expenses that are added back, allowable deductions that are subtracted, and non-business income that is subtracted to arrive at the total business income of Rs. 5,61,833. Key details included are the taxpayer's name, ID number, program of study, and date of submission for their taxation assignment.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    45 views3 pages

    Sumana Podder: Taxation Assignment - 1

    Uploaded by

    akash dey
    This document contains details of a taxpayer's business income for the assessment year 2019-2020. It provides information on the profit as per the taxpayer's statement, non-allowable expenses that are added back, allowable deductions that are subtracted, and non-business income that is subtracted to arrive at the total business income of Rs. 5,61,833. Key details included are the taxpayer's name, ID number, program of study, and date of submission for their taxation assignment.

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    TAXATION ASSIGNMENT --1

    SUBMITTED TO :
    SUMANA PODDER

    PREPARED BY:

    NAME :AKASH DEY


    ID:1703610109300
    PROGRAM :BBA
    MAJOR :ACCOUNTING
    SECTION :A
    BATCH :36TH
    DATE OF SUBMISSION :19.06.2020
    Income from business
    Mr shabbir

    Income year :2018-2019

    Assessment year :2019-2020

    Details tk tk tk

    3,72,000
    Profit as per statement

    Add:Non Allowable expenses:-

    Donation to an institution
    60,000
    Bad debts provision
    53,333
    (80,000*2/3)

    Advertising (permanent signboard)

    income tax (90,000*1/4) 20,000

    insurance on owners life 22,500

    loss of stock on fire 90,000


    Depreciation 15,000

    8,000

    -------------------- 2,68,833 6,40,833

    ----------------------
    Less :allowable deducation
    (4000)
    Depreciation as per tax rule
    --------------------

    6,36,833
    Less :Non Business income

    interest on commercial securities


    65,000
    profit sale of maching
    10,000

    ---------------------- (75,000)
    total business income -------------------

    5,61,833

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