solve it plzzzzz( very urgent)

BABITA (student) (77 Points)

10 April 2010  

A firm with A, B and C as equal partners , furnished following information for the previous year 2008-2009.

profit from business ( after deducting the following amounts)                              181000

!)SALARY to A                                                                                                                9000

2) Interest paid for non payment of sales tax                                                          5000

3) interest on capital @ 12%

  A                                 5000

B                                     4000

C                                     3000                                                                             12000

 

4)   donation to university                                                                                         2000

5)      donation to a scientific research association                                                  10500

 (and  after taking account the following incomes)

a )    long term capital gains                                                                                      20000

b) interest on securities(gross)                                                                               29000

c)income from house property (computed)                                                             14000

d) Dividends(gross)                                                                                                      10500

 

 

compute the taxable income of the firm and allocate it amongest the partners , the fim fulfills the conditions of sec. 184.