23 April 2008
Shri balaji multipurpose co.operative society has the following income 4 the year ending on 31 mar 07 1.rent received from H.P let out 4 residential purpose 20000 2.annual rental value of the house used by the society in its own business 10000 3.income from cr. Facilities to its members 40000 4.income from collective disposal of labour 20000 5.income from an industry located in back ward dist. Of category A commencing production since feb 03 90000. P$L a\c of this industry has been dr. With the following exp.relating to the let out H.P (a) repair rs. 2500 (b)municipal tax rs. 2000 (c)fire insurance prem.rs.1200 (d)rent collection charges rs.500. 6.dividend: a.from an indian com.rs.8000 (b)received from another co operative society rs.6000 7.interest: (a)on fixed diposite with a co operative bank rs.4000(b) on listed debenture of a com.(gross)rs.4500 8.taxable income from letting godown for storing commmodities rs.10000. The society donated rs.15000 to the central govt.for promoting family planning. Compute total income n tax lia.of the society 4 the ass.yr.07-08.
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