Q.2 Mr. Rupam Goswami (45 years ) is a medical practitioner of Kochi . His income &
expenditure account for the year ending March 31,2020 is as under:
Particulars
Rs.
Particulars
Rs.
Medicine Consumed
Staff salary
Clinic Consumables
Rent Paid
Administrative Exp.
Payment to IIT Delhi
for Approved
Scientific Research
Depreciation on
Clinical equipment
Net Profit
6,72,000
3,40,000
1,24,000
96,000
2,00,000
80,000
40,000
2,34,000
17,86000
Consultation fees
Medical Charges
Dividend from Indian
companies
Winning from lottery
Rent from Property let
out
8,00,000
8,80,000
34,800
28,000
43,200
17,86,000
Other information:
(a) Clinic equipment are – April 1, 2019, opening WDV: Rs. 3,60,000. New acquisition on
October 1, 2019 Rs,80,000.
(b) Rent paid includes Rs. 28,800 paid by cheque towards rent of his residence.
( c ) Rent received relates to property let out at Kochi . The municipal tax of Rs. 7,200 paid in
January 2020 has been included in “Administrative expenses”.
(d) Rate of depreciation on clinic equipment is 15%.
Compute income from Profession of Mr. Goswami for the A.Y.2020-21. 10
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