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Querist : Anonymous

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Querist : Anonymous (Querist)
12 April 2010 Will you kindly provide a format of Income Tax computation for a Co.(Business and profession) or pl inform the item of Add & Less with Net profit,
Regards,
Prabhakar
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
12 April 2010 You can never have any fixed format for computing total income as it has to be tailor made for each type of company.

The general format is:

Net Profit as per Profit & Loss A/c (before taxation)

Add : Item considered seperately/ Disallowable

Less : Items not chargeable to tax / Considered under other heads/Allowables

Net income from business & profession
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
12 April 2010 agreed
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
12 April 2010 AGREE

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