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    Rajesh PLBS 2023 Estimated

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    ABDUL KHALIK
    Rajesh Bora, a proprietor, provides estimated financial statements for his trading business for the year ending March 31, 2023. The summary includes a profit and loss statement showing net profits of Rs. 5,86,940, a balance sheet as of March 31, 2023 with total assets of Rs. 17,61,571, and a capital account schedule. It also includes a computation of his taxable income at Rs. 5,83,940 and net tax payable of Rs. 31,060.

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    Rajesh PLBS 2023 Estimated

    Uploaded by

    ABDUL KHALIK
    37 views4 pages
    Rajesh Bora, a proprietor, provides estimated financial statements for his trading business for the year ending March 31, 2023. The summary includes a profit and loss statement showing net profits of Rs. 5,86,940, a balance sheet as of March 31, 2023 with total assets of Rs. 17,61,571, and a capital account schedule. It also includes a computation of his taxable income at Rs. 5,83,940 and net tax payable of Rs. 31,060.

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    RAJESH PLBS 2023 ESTIMATED

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    Rajesh Bora, a proprietor, provides estimated financial statements for his trading business for the year ending March 31, 2023. The summary includes a profit and loss statement showing net profits of Rs. 5,86,940, a balance sheet as of March 31, 2023 with total assets of Rs. 17,61,571, and a capital account schedule. It also includes a computation of his taxable income at Rs. 5,83,940 and net tax payable of Rs. 31,060.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    37 views4 pages

    Rajesh PLBS 2023 Estimated

    Uploaded by

    ABDUL KHALIK
    Rajesh Bora, a proprietor, provides estimated financial statements for his trading business for the year ending March 31, 2023. The summary includes a profit and loss statement showing net profits of Rs. 5,86,940, a balance sheet as of March 31, 2023 with total assets of Rs. 17,61,571, and a capital account schedule. It also includes a computation of his taxable income at Rs. 5,83,940 and net tax payable of Rs. 31,060.

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    © All Rights Reserved
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    of 4

    RAJESH BORA ASSESSMENT YEAR :: 2023-24

    S/O- KESHAB BORA PREVIOUS YEAR :: 2022-23


    BHUTAI GAON, ITACHALI D.O.B :: 01/01/1993
    DIST. - NAGAON (ASSAM) , PIN - 782003 PAN :: DBLPB7720K

    ESTIMATED TRADING AND PROFIT AND LOSS ACCOUNT


    FOR THE YEAR ENDED 31ST MARCH 2023

    PARTICULARS AMOUNT(RS) PARTICULARS AMOUNT(RS)

    To Opening Stock 4,35,610.00 By Gross Receipts 59,65,150.00


    To Purchase 49,51,763.13 By Closing Stock 6,98,470.00
    To Freight 1,35,160.00

    To Gross Profit transferred to


    Profit & Loss A/c 11,41,086.88
    66,63,620.00 66,63,620.00

    To Salary to Staff 1,45,650.00 By Gross Profit trnsferred from


    To Labour wages 1,25,350.00 Tarding A/c 11,41,086.88
    To Mobile Charges 42,150.00
    To Travelling & Convayance 32,150.00
    To Shop Rent 39,000.00
    To Shop Maintanance Expenses 25,140.00
    To Printing & STationery 18,650.00
    To Electric Charges 36,520.00
    To Refreshment 26,420.00
    To Misc. Expenses 21,225.00
    To Shop Insurance 2,095.00
    To Depreciation 39,796.88

    To Net Profit t/s to Capital A/c 5,86,940.00


    11,41,086.88 11,41,086.88

    RAJESH BORA
    Proprietor
    RAJESH BORA ASSESSMENT YEAR :: 2023-24
    S/O- KESHAB BORA PREVIOUS YEAR :: 2022-23
    BHUTAI GAON, ITACHALI D.O.B :: 01/01/1993
    DIST. - NAGAON (ASSAM) , PIN - 782003 PAN :: DBLPB7720K

    ESTIMATED BALANCE SHEET


    AS ON 31ST MARCH 2023

    LIABILITIES AMOUNT(RS) ASSETS AMOUNT(RS)

    Proprietor's Capital Fixed Assets


    Capital A/c as per Schedul "A" 12,05,350.00 Furniture & Fixture 1,34,071.20
    Less:-Depn@10% 13,407.12 1,20,664.08
    Loans & Advances
    Loan from TVS Credit having Computers 25,403.10
    Customer ID- 0015843283 Less:-Depn@15% 3,810.47 21,592.64
    (Closing Outstanding) 0.00
    Household Goods 98,423.10
    Loan from Bajaj Finance Less:-Depn@10% 9,842.31 88,580.79
    Customer ID- 552612689
    (Closing Outstanding) 25,161.00 Electronics 25,952.20
    Less:-Depn@15% 3,892.83 22,059.37

    Motor Bike 58,961.00


    Cash Credit from SBI 5,00,000.00 Less:-Depn@15% 8,844.15 50,116.85
    Proposed Limit Rs. 500000

    Current Liabilities Current Assets


    Sundry Payables 31,060.00 Stock in Trade 6,98,470.00
    Sundry Receivables 4,99,297.00
    Cash in Hand 1,95,650.00
    Cash at Bank 65,140.27

    17,61,571.00 17,61,571.00

    RAJESH BORA
    Proprietor
    RAJESH BORA ASSESSMENT YEAR :: 2023-24
    S/O- KESHAB BORA PREVIOUS YEAR :: 2022-23
    BHUTAI GAON, ITACHALI D.O.B :: 01/01/1993
    DIST. - NAGAON (ASSAM) , PIN - 782003 PAN :: DBLPB7720K

    SCHEDULE "A"- CAPITAL ACCOUNT


    AS ON 31ST MARCH 2023

    PARTICULARS AMOUNT(RS) PARTICULARS AMOUNT(RS)

    To Drwaing for Self 5,06,389.00 By Opening Balance 11,27,799.00


    To LIC Premium Paid 0.00 By Net Profits t/d from P/L A/c 5,86,940.00
    To Medical Expenmditure 3,000.00 By Interst on Savings Bank A/c 0.00
    To House Rent paid 0.00 By Commission 0.00

    To Closing Balance 12,05,350.00


    17,14,739.00 17,14,739.00

    RAJESH BORA
    Proprietor
    RAJESH BORA ASSESSMENT YEAR :: 2023-24
    S/O- KESHAB BORA PREVIOUS YEAR :: 2022-23
    BHUTAI GAON, ITACHALI D.O.B :: 01/01/1993
    DIST. - NAGAON (ASSAM) , PIN - 782003 PAN :: DBLPB7720K

    COMPUTATION OF TAX PAYABLE INCOME AND TAX PAYABLE

    PARTICULARS AMOUNT(RS)

    INCOME UNDER THE HEAD BUSINESS & PROFESSION

    NET INCOME FROM TRADING BUSINESS 5,86,940.00


    0.00 5,86,940.00

    INCOME UNDER THE HEAD BUSINESS & PROFESSION

    SAVINGS BANK INTEREST 0.00


    COMMISSION INCOME 0.00
    SUNDRY RECEIPTS 0.00 0.00
    GROSS TAXABLE INCOME 5,86,940.00
    LESS:- DEDUCTION UNDER CHAPTER VI-A
    SECTION 80 C 0.00
    SECTION 80 D 3,000.00
    SECTION 80 GG 0.00
    SECTION 80 TTA 0.00 -3,000.00
    NET TOTAL INCOME 5,83,940.00
    OR SAY ROUNDED OFF 5,83,940.00

    TAX LIABILITY
    TAX ON NET TOTAL INCOME 29,888.00
    LESS:- REBATE U/S 87 A 0.00
    GROSS TAX PAYABLE 29,888.00
    ADD:- EDUCATION CESS @4% 1,171.00
    31,059.00
    ADD:- INTEREST U/S 234 0.00
    ADD:- LATE FEE U/S 234 0.00
    NET TAX PAYABLE 31,059.00
    LESS:- TAX PAID / TDS DEDUCTED 0.00
    NET TAX PAYABLE/REFUNDABLE 31,059.00
    OR SAY ROUNDED OFF 31,060.00

    RAJESH BORA
    Proprietor

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