Question

required to ascertain his income from business for the year ended on that date.
Following is the Profit and Loss Account of Sh Biren Mitra for the year ending 31st March 2019. You are
25
Q. No. 13
By Gross Profit
Discount
Commission
Sundry Receipts
6,35,672
751
1.205
52
TO Salaries
Sundry Expenses
Reserve for Bad Debt
Insurance
Advertising
Income-tax
Car Expenses
Interest on Capital
Interest on Bank Loan
Charity
Life Insurance Premium (self)
Depreciation :
On Building
On Furniture
1,60,800
51,200
4,500
10.450
52,500
2,375
31,200
1,000
11,550
150
550
1,000
200
1,200
Difference in Trial Balance
105
Net Profit for the year
3,10,100
6,37,680
6,37,680
This motor car was used equally for business purposes and the proprietor's private purposes.
The amount
of depreciation allowable according to Income tax Rules, in respect of Building and Furniture
was * 800 and 3 150 respectively. Included in the advertising expenses is a sum of 3 1,000 expended on
a special advertising compaign undertaken during the year in respect of a product of a company placed
recently in the market. Salaries include 2 6,000 being the amount drawn by Sh. Biren Mitra during the year
against profits.
Hints : Business Income 3,40,630 ; Expenditure on sale compaign allowed uls 37)
Q. No. 14
Y for the year onded on 31.3-2019 Compute his taxable​

Answer 1

Explanation:

salary 10800

advertisement 2500

car expenses 1200

Answer 2

Explanation:

please give this answer