Mrs. Barsha is an advocate, maintains her account on a cash basis furnished the following statement for the year end 31st Ashadh. Additional…
2025 · Solved Question with Answer
Mrs. Barsha is an advocate, maintains her account on a cash basis furnished the following statement for the year end 31st Ashadh.
Additional information:
- Legal fees include Rs 56,000 relating to two years ago.
- Allowable depreciation Rs 30,000.
- Office expenses included Rs. 10,000 paid for household servant.
- Outstanding salary Rs 20,000 is yet to be paid.
- Electricity and telephone expenses is used equally for profession and domestic purpose.
Required:
a. Net assessable income profession
b. Statement of taxable income