24 June 2016
It is a proprietary concern of a builder and developer. As on 31st March 2016 Business Loss is Rs 1,00,000/= Other Income on account of Rent Receipt i Rs 2,00,000/= Net Profit will be Rs 2,00,000/= or Rs 1,00,000/= How we will workout the taxable income for the Ay 2016-17. The proprietor has paid property tax also.
CAclubindia
