Computation of Taxable Income from Business of ………………For the A.Y. 2024-25
|
Particulars |
₹ |
₹ |
|
|
|
Net Profit as per Profit & Loss Account |
|
XXX |
|
Add:- |
Disallowed Expenses but
debited to Profit and Loss Account |
|
|
|
|
·
Donations ·
Charities ·
Gifts to relatives or friends ·
Income tax ·
Wealth tax ·
Fines and Penalties for breach of any laws ·
Salary to owner ·
Interest on proprietors capital ·
All Capital expenditure (Except On Scientific Research) ·
All Capital Losses ·
Personal expenditure ·
Amount transferred to reserve ·
R.D.D. But deduction is allowed for actual bad debts ·
Any Investments ·
Any expenses related House Property ·
Interest, royalty, fees for technical services or any
other sum chargeable to tax payable outside India without deducting tax at
source & where there is no person to be treated as an agent of person
receiving this amount ·
Salary paid outside India without deducting tax at
source ·
Payments exceeding ₹. 10,000 made otherwise than by a crossed cheque or a draft or
use of electronic clearing system through a bank account and etc. |
XXX |
XXX |
|
Less:- |
Disallowed Income but
Credited to Profit and Loss Account |
|
|
|
|
·
Interest on Fixed Deposits ·
Dividends Received ·
Personal Loan ·
Gifts from relatives or friends ·
Income from House Property ·
Income from Capital Gains ·
Income from Other Sources and etc. |
XXX |
XXX |
|
Less:- |
Allowed Expenses but not
debited to Profit and Loss Account |
|
|
|
|
·
Insurance ·
Bonus or commission paid to Employees ·
Interest on borrowed capital ·
Contribution to recognized Provident fund or an
approved super annuation fund ·
Contribution to Pension Scheme ·
Contribution to approved Gratuity Fund ·
Animals used for the business ·
Bad debts ·
Expenditure for promoting family planning ·
Expenses on local festival such as Diwali etc. ·
Cash shortage found in the business at the end of the
day ·
Entertainment Expenses ·
Advertisement Expenses ·
Travelling Expenses ·
Guest House Expenses ·
Lawful expenses related to illegal business ·
Premium on redemption of debentures ·
Discount on issue of debentures (on pro rata basis) ·
Depreciation and etc. |
XXX |
XXX |
|
Add:- |
Allowed Income but not
Credited to Profit and Loss Account |
|
|
|
|
·
Bad Debts Recovered ·
Sundry Rescripts / Income ·
Commission ·
Sales and etc. |
XXX |
XXX |
|
∴ Income / Loss from Business |
XXX |
||
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