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M.K. GUPTA CA EDUCATIONPH: 9212011367/ 9811429230
www.mkg!"#$#$%#&&'&.$(m
')m#*% *+: mkg!"#"#,$%#&&'&-'+*m#*%.$(m
INCOME UNDE THE HEAD
UINE/POEION 20)243
INCOME UNDE THE HEAD
AA5 244)384
I$%+*g
EAMINATION UETION
CA. .N. AAN
CAIPCC
MA5)2013/
NO)2013
P.5. ; 2012)13A.5. ; 2013)14
. A. ; 2012
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M.K. GUPTA CA EDUCATION IS NOW NO.1 IN CA-CPT ALSO AND THE CLASSES
ARE BEING TAKEN BY NEHA JALAN AND VAIBHAV JALAN, DAUGHTER AND
SON IN LAW OF M.K. GUPTA SIR
CA – CPT RESULT 2012
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21 MA$AN# A%%AR/A" 21!+&6 172 !6
22 NAMAN JAIN 2'!79& 172 !6
2' ASH/IN)R -AN/AIT 21!1&7 171 !.
2+ $ATIN ,HA/"A 22&&19 171 !.
2 SHR*TI JAIN 21!77' 17& !26 TAN*J /AH/A 21!++' 169 !+.
27 ROHIT HAMIJA 21962 169 !+.
2! #ARAN S)THI 2179!& 16! !+
S. No. Name Roll No. Marks Percentage
29 #H*SH-OO SIN%HA" 21799' 16! !+
'& A#SHA$ "AM-A 219'!& 16! !+
'1 SH/)TA -ANSA" 219699 16! !+
'2 #*SHA" JAIN 2296+' 16! !+
'' RAMANPR))T SIN%H 21772+ 167 !'.
'+ AR*SH %*PTA 21!7+! 167 !'.
' R*PA"I %ANHI 2'767+ 167 !'.
'6 SHARA %A-A 21772' 166 !'
'7 SIMMI %*PTA 21!+6& 166 !'
'! MOHIT -ANSA" 2191 166 !'
'9 I-$A MAH)SH/ARI 226!'+ 166 !'
+& SA#SHI PAH/A 2177'1 16 !2.
+1 AN*J MITTA" 21!!1& 16 !2.
+2 SA#)T SIN%A" 219'71 16 !2.
+' PRIN,) %*PTA 219+7 16 !2.
++ S*M))T %AR% 22&&2' 16 !2.
+ PR)#SHA %*PTA 22&16' 16 !2.
+6 ASHISH %O$A" 217762 16+ !2
+7 RIA -AJAJ 21!1+' 16+ !2
+! ASHISH %O$A" 21!2&1 16+ !2+9 SH))NA -HOOT 2191 16+ !2
& RAJAT %AR% 222'92 16+ !2
1 A-HISH)# -ANSA" 217927 16' !1.
2 (AR*N %O)" 217992 16' !1.
' SHR*TI JAIN 21!'9' 16' !1.
+ )SHAN ($AS 21992 16' !1.
A-HISH)# A%AR/A" 22&1'1 16' !1.
6 NAMAN %O)" 22&2+6 16' !1.7 SHR)$ #ATH*RIA 217!16 162 !1
! A$*SH JAIS/A" 21!29 162 !1
9 SHI(AN%I %O)" 21!!!9 162 !1
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6& PRAT))# %*PTA 219'&6 162 !1
61 SO*RA-H %O)" 219'& 162 !1
62 SH*-HAM -ANSA" 217!7& 161 !&.
6' #ARTI# %O)" 21!6' 161 !&.
6+ %*NJAN SAANA 21!999 161 !&.6 ROHIT -ANSA" 219!'6 161 !&.
66 NITANT %AR% 22&&6! 161 !&.
S. No. Name Roll No. Marks Percentage
67 %A*RA( %*PTA 22&297 161 !&.
6! ,H)RR$ %*PTA 22++! 161 !&.
69 )#TA SHARMA 21!76 16& !&
7& AMAN SIN%HA" 219992 16& !&71 #OMA" %*PTA 22&&&' 16& !&
72 ISHAN -ATRA 22&1+ 16& !&
7' *IT A%%AR/A" 22&196 16& !&
7+ AN#*SH NAR*"A 21!&&6 19 79.
7 #IRTI %*PTA 21!'!1 19 79.
76 S/ATI %*PTA 21!& 19 79.
77 PR)RNA %*PTA 21!611 19 79.
7! SANJ* 217717 1! 79
79 NIT)SH JAIN 21776+ 1! 79
!& P*"#IT %*PTA 219291 1! 79
!1 HIMANSH* J*%RAN 219''7 1! 79
!2 ROHIT %O)" 219'!+ 1! 79
!' HARPR))T SIN%H 22&1' 1! 79
!+ AASHIMA 21!7&6 17 7!.
! PRI$AN#A SA"*JA 2191&+ 17 7!.
!6 RISHA-H (OHRA 219617 17 7!.
!7 ,HAR* MAHAJAN 22&'&+ 17 7!.
!! SARTHA# -A#HRI 217!'2 16 7!
!9 HIMANSHI %*PTA 21!!'2 16 7!
9& ANJA"I MITTA" 2196+2 16 7!
91 SA%AR AR$A" 22&1&! 16 7!
92 #A(ITA P*ROHIT 219'!' 1 77.
9' SAI$AM A%%AR/A" 2196&' 1 77.9+ SAARTHI %O)N#A 22&&!7 1 77.
9 AA$*SH %O)" 22&17& 1 77.
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96 SAM-HA( SAN,H)TI 21!1&+ 1+ 77
97 SH*-HI -ANSA" 21!9&' 1+ 77
9! %A%AN))P SIN%H 2192+ 1+ 77
99 SIMRANJ))T #A*R 219!2 1+ 77
1&& %A*RA( ARORA 22&!71 1+ 77
FRO THE PARENTS! DESK
ATHE O HAEEN PAND5A
Respected Sir/Madam
I recall a very important saying “MOTIVTIO! "! MOV# MO$!TI!S%& I 'elieve t(at yo)r classes
not only (elped t(e st)dents to get (ig( mar*s ')t (elped even to t(ose +(o +ere ,o)'t-)l to adopt“"(artered cco)ntancy% as a pro-ession and ma*ing t(em clear in “O!# TT#M.T%& T(e real e--ort
motivation and dedication lies t(ere&
My c(ild S(aleen +as ot(er+ise a sincere 'oy ')t +as in need o- e0actly t(is type o- motivation +(ic( +as
provided 'y yo)r instit)te&
T(e ma1or met(ods +(ic( I appreciated are
S(o+ing motivational movies o- s)ccess-)l leaders&
"ond)cting S)nday tests e0actly in “".T #0amination% li*e atmosp(ere t()s preparing st)dents
-or t(e -inal e0am&
Mi0ing st)dy +it( entertainment and en1oyment&
#venly distri')tion o- co)rse in entire period instead o- 'eing slo+ in t(e 'eginning and -ast in t(e
end&
"losing my pen I once again t(an* 'ot( o- yo) -or ed)cating st)dents +it( )tmost sincerity determination
(ard +or* and commitment and ma*ing t(em s)ccess-)l in " ".T&
is(ing yo) all t(e 'est in all yo)r endeavo)r in -)t)re too&
M . 5AHPA PAH
,ear M8 9$.T ":SS#S (en o)r son T)s(ar 9)pta decided to p)rs)e " +e +ere petri-ied& ;e
+as never interested in st)dies d)ring (is sc(ool years& )t a-ter 1oining yo)r classes (e learned t(e
meaning o- (ard +or* and perseverance& e t(an* yo) deeply -or c(anging o)r sons li-e and o)rs as +ell&
PAENT O AMANPEET
Respected Sir/Mam
e gave Raman t(e 'ody s(ape ')t M8 9$.T ":SS#S s(aped (im -or -)t)re career so t(at (e is a'leto come o)t +it( -lying colo)rs& eca)se o- yo)r sincere e--orts and g)idance (e got a strong -o)ndation
stone& ;e learnt (ere and prepared (imsel- -or " entrance e0am as +ell as -amily val)es in t(e li-e& e li*e
t(is +ay o- grooming very m)c(& T(an*ing yo) -or all t(is&
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";I:,S $.RI!9I!9 and +e are grate-)l to yo) -or
(elping )s so m)c( in t(is 1o)rney&
PAENT O CHAU MAHAAN
>irstly (eartily "ongrat)lations -or yo)r spectac)lar res)lt& !e(a mam and Vai'(av Sir yo) 'ot( are t(e 'est
teac(ers& y yo)r (ard+or* ? e--orts my da)g(ter "(ar) Ma(a1an easily a'le to complete -irst stage o-
"& I really li*ed t(at yo) cond)cted +ee*ly tests e0actly in t(e ".T e0amination pattern& 7o)r teac(ing
pattern +as so creative t(at st)dents can clear t(e e0am +it(o)t stress& T(e +ay yo) groom yo)r st)dies is
somet(ing t(at co)ld (ardly 'e seen in any ot(er instit)te& e are e0tremely t(an*-)l to eac( mem'er o- teac(ing -ac)lty o- M8 9$.T " ":SS#S -or im'i'ing val)es in o)r c(ild and giving (er pro-essional
g)idance&
M. ? M . .M.OHA
Respected Mrs& !e(a ? Mr& Vai'(av @alan
>irstly "ongrat)lations -or yo)r e0cellent res)lt in " ".T& eca)se o- yo)r sincere e--orts and g)idance
my son RIS;; VO;R easily completed t(e -irst step o- " co)rse +it( ,istinction& T(e +ay yo) are
ma*ing st)dents ready -or t(e pro-essional +orld as +ell as giving t(em val)es t(ro)g( story telling and
videos is praise+ort(y& T(an* yo) -or yo)r sincere e--orts& M7 9O, :#SS 7O$A&B
INA5 K UMA =ADOCATE> =ATHE O AAUHI DHINGA>
,ear Sir My da)g(ter ar)s(i ,(ingra too* M8 9$.T ":SS#S -or preparation o- ".T and as per (er
opinion M8 9$.T ":SS#S are t(e 'est& s -ar as my e0perience +it( M8 9$.T ":SS#S t(e
+(ole e0ercise stops 1)st 'e-ore reac(ing a point +(ic( is called “9R#T%& ll t(e activities 'eing planned
and e0ec)ted pro-essionally&
A ETHI ? UHAH ETHI =PAENT O K AAN ETHI>
My son is very l)c*y t(at (e 1oined M8 9$.T " ".T ":SS#S& #veryday (e )sed to tell me a'o)t
+(atever (appened in t(e class& I realied my son +as so motivated t(an 'e-ore& e +ere satis-ied and +e
*ne+ t(at my son +ill pass ".T +it( distinction and (e did it& ll t(an*s to yo) maam and sir& T(e moral
val)es and >ood >or T(o)g(t really c(anged o)r perception& >or me t(is is t(e 'est Instit)te -or " ".T&
M A K UMA GAA ? M INDU GAA =PAENT O HAAD GAA>
e +ere al+ays little appre(ensive -or o)r son ta*ing )p commerce and going -or " as (is pro-ession& )t
all o)r +orries +ere p)t at ease +(en (e entered M&8&9$.T " ":SS#S& T(e personal interest and
parental s)pervision portrayed (ere (as no matc(& !onet(eless *eeping t(e parents in t(e loop a-ter every
moc* test t(ro)g( letters is t(e one o- its *ind approac( in t(is centre& e are more t(an satis-ied +it( t(e
e--orts p)t in 'y t(e -ac)lty& 8eep )p t(e good +or*B
M . HOA NATH CHAUHAN ? M. AITA CHAUHAN @PAENT O AAKITI
>irstly "ongrat)lations -or yo)r (ig(ly radiant res)lt& !e(a Mam ? Vai'(av Sir yo) are t(e 'est teac(er and 'y yo)r (ard +or* and e--orts my da)g(ter a*riti "(a)(an easily a'le to complete t(e -irst stage o- "
co)rse& 7o) 'ot( (ave -)l-illed yo)r all commitments +(ic( yo) (ave made at t(e time o- registration to
yo)r instit)te& 7o) (ave completed more t(an 2CCCC =)estions 'y +(ic( my c(ild +as a'le to increase (er
speed (elped (er to clear (er ".T +it( -)ll con-idence&
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M . AEE MEHTA @PAENT O AGIT MEHTA
T(an*s to M&8&9$.T ":SS#S -or ma*ing o)r c(ild E@9RIT M#;T more con-ident competent and
sincere to+ards (is st)dies& eca)se o- yo)r sincere e--orts and g)idance (e +as a'le to come o)t +it(
-lying colo)rs& T(an*ing yo) a lot and est +is(es -or yo)r good -)t)re&
PAENT O IMI DA
M8 9$.T Instit)te is an eminent instit)te -or preparation o- " e0ams& It (as laid do+n a strong
-o)ndation stone -or my da)g(ter& S(e is no longer scared o- st)dying "& T(e +ay Vai'(av Sir and !e(a
Mam teac( st)dent is praise +ort(y& Story telling sessions 'y !e(a Mam +ere really enco)raging -or my
da)g(ter& S(e (as gained a lot more in addition to apt *no+ledge& ot( !e(a Mam and Vai'(av Sir are
a+esome teac(er& e -eel pro)d t(at o)r da)g(ter st)died at M8 9$.T Instit)te&
UMAN ANA =MOTHE O PENA ANA>
,ear !e(a Mam and Vai'(av Sir my da)g(ter .rerna ansal (ave a dream o- 'ecoming a " ')t 'e-ore
coming to yo)r Instit)te s(e +as little 'it a-raid ')t yo) gave (er s)c( a plat-orm t(at no+ s(e is FCCG
s)re -or (er I."" and >I!:& I +ant t(at Vai'(av Sir and !e(a Mam yo) live (appy al+ays and *eep
enco)raging motivating and promoting t(e st)dents li*e t(is +ay 9O, :#SS !, T;!8 7O$
M . AA5 A
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Respected Sir ? Mam e are glad t(at +e decided to send o)r da)g(ter S+ati to M8 9$.T ":SS#S
-or " ".T coac(ing& eca)se o- yo)r sincere e--orts and g)idance s(e +as easily a'le to clear ".T in
t(e very -irst attempt& !o+ s(e can con-idently loo* at " .ro-ession as (er career& T(an*s a lotBBB is(ing
yo) all t(e 'est in all endeavo)r in -)t)re too&BBB
MOTHE O OR 7O$ I!ST$T#AA&&
T;!8S >OR #V#R7T;I!9
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FRO THE STUDENTS! DESK
AKHA5 GO5A
M89 "lasses (ave 'een a great respite -rom terri'le "S# II t( 'oard #0ams& It provided )s +it( t(e m)c(
needed enric(ment and a competent environment to +or* +it(& Mam and Sirs motivational and spirit)al
speec(es not only made )s an a+arded st)dent ')t also (elp )s to 'ecome a 'etter citien o- tomorro+& T(e
greed o- several ,IR7 MI:8 ? >R$IT ! !$TS and (andsome "S; .RIJ#S also played a great role in
o)r attraction to+ards M89&#ST#ST o- t(e 'est is t(e test series on OMR s(eets cond)cted in t(e same manner and +it( t(e same
spirit as t(at o- >I!: ".T #M& I am pro)d and precio)s to 'e a st)dent o- M89&
M89 !OT O!:7 M8# "sAAAA&T;#7 M8# ;$M!S&
NEETU HAMA
I +ant to e0press my (eartiest t(an*s to EM&8&9$.T " ":SS#S +(ic( (as (elped me to clear ".T
+it( s)c( a good mar*s& (en I 1oined " co)rse I +as not s)re o- doing it ')t t(ese t+o and (al- mont(s
+it( mam and sir (ave given me lot o- con-idence and no+ I *no+ +(at I really +ant to do& Mam and Sir
teac(ing style is very di--erent +(ic( incl)des -)n +it( concept)al *no+ledge& 7o)r motivational strategies
incl)ding cas( pries c(ocolates and +(atever yo) people do are appreciating& I +o)ld also mention E>ood
-or T(o)g(t 'y !e(a Mam specially (ere +(ic( I personally -o)nd a great e--ort on Mams part& I +o)ldalso li*e to t(an* t(e +(ole sta-- +(ic( +as amaing and very (elp-)l and I +ill really remem'er all o- yo)
in my entire li-e& is(ing prosperity and (appiness in yo)r li-e in -)t)re&
HENC5 HATEA
My e0perience at M89 +as really good& T(e st)dy environment +as really pleasing& I loved t(e +ay Mam
and Sir ta)g(t )s& T(ey are t(e 'est teac(er Ive ever (ad& T(e “>OO, >OR T;O$9;T +ere really
motivating& ny person +(o st)dies -rom t(is Instit)te 'ecomes a really good ()man 'eing -or s)re& “IT IS
!OT ! I!STIT$T# $T ,#>I!IT#:7 .:"# ;#R# 7O$ :#R! IT; #!@O7M#!T&%
AAKAH K AA
M&8&9$.T ":SS#S is not only a coac(ing centre -or me ')t a second (ome +(ere loving teac(erss(o+ed me t(e rig(t pat( to -)l-ill my dreams& it(in t(is s(ort span I (ave 'ecome a 'ig -an -or t(eir
tireless e--orts love con-idence and conviviality +(o inspired me to ac(ieve t(e milestones in ".T& I +ill
never -orget +(en t(ey patted my 'ac* +(en I e0celled t(ey landed (elping (and +(enever I t)m'led t(ey
provided me t(e inner strengt( to *eep going on t(ey aro)sed my con-idence to tread t(e +ays ne+ ?
)n*no+n li*e a -riend t(ey stood 'y me all t(e time li*e a mentor t(ey ac=)ainted me +it( rig(t ? +rong& I
s(all never 'e a'le to pay -or t(eir sincere e--orts )nmatc(a'le g)idance and s)pport& T(ey are 1)st li*e my
parents& it( sincere t(an*s I +is( a good l)c* -or t(is instit)tion and +(o so ever is a part o- it& good
l)c* to all&
ANUHMA INDAVai'(av Sir ? !e(a Mam are a+esome teac(ers B T(e +ay t(ey teac( not(ing seems to)g(& T(e 'est part o-
t(eir teac(ing are t(e test series +(ic( (elp to t(ro+ lig(t on o)r +ea* areas and de-initely t(e cas( pries
and c(ocolatesB Mam ? Sir are t(e role models -or me and inspire me to +or* (ard and 'e good ()man
'eing at t(e same time& T(e atmosp(ere in t(e class +as al+ays -riendly yet disciplined& T(e administration
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? t(e sta-- is also good& T(e time I spent (ere +as remar*a'le and )n-orgetta'le& I +ill al+ays remem'er my
“".T 1o)rney%& T(an* yo) Mam B T(an* yo) Sir B -or yo)r immense s)pport g)idance love and 'lessingsB
HIMANHI TA5A
Respected Sir ? Mam
>irst o- all I +o)ld li*e to t(an*s yo) -or s(aping my career p)tting t(e -irst 'ric* o- my li-e " ".T&
T(e saying “It is not an Instit)te ')t a -amily% is proved very nicely& part -rom st)dies !e(a Mams -ood
-or t(o)g(t +as a+esome& T(ings I learnt -rom yo) to respect parents nation 9ods 9i-t and many more&&
!o one can in my li-e e0cept my parents and yo) 'ot( can tell me& Mam today also I miss t(is t(ings
v&v&v&v&v&vA& m)c(&
In my li-e a-ter my parents yo) 'ot( are t(ere +(ic( I t(in* is t(e most 'ea)ti-)l 9i-t o- 9O, -or me& ot(
!e(a Mams ? Vai'(av Sirs motivational +ords al+ays inspire me to come o)t o- my -ears and -ail)res
and to +or* (ard& Sir yo)r +ay o- teac(ing la+ is -antastic and Mams yo)r s(ort stories in every ne+
concept is also very interesting&
7o) 'ot( are t(e est Teac(ers ;)man eings I (ave ever met in t(is +(ole $niverse& My DCG credit -or
yo) 'ot( FCG to my parents ? DG -or 9O, and rest -or me -or clearing " ".T& S:$T# -or yo)
Mam and Sir&
AANPEET K AU
St)dying at M&8&9$.T " ":SS#S not only en(anced me to score s)c( a good mar*s ')t it also
en(anced my c(aracter morally& I (ave 'een a'le to develop a positive o)tloo* to+ards li-e& Immense e--orts
o- Maam and Sir are t(e ma1or reason -or s)c( good res)lt o- M8 9$.T ":SS#S&
POOA GUPTA
>irst o- all I +o)ld li*e to t(an* Vai'(av Sir and !e(a Mam -or t(e g)idance s)pport and enco)ragement
+it(o)t +(ic( it +o)ld (ave not 'een possi'le -or me to ac(ieve s)c( milestone& T(e st)dy material
provided 'y t(em +as in itsel- so e0(a)stive t(at yo) do not need to t(in* a'o)t any ot(er 'oo*& T(e
spirit)al / Inspirational video -ootage not only motivated )s or 'oosted o)r morale ')t also inspired )s to 'ea good ()man 'eing in o)r li-e& Vai'(av Sir and !e(a Mam are really s)per'& T(ey are t(e 'est teac(ers I
(ave ever (ad& T(an* a )nc(B
HETA
,ear Vai'(av Sir ? !e(a Mam
I really respect yo) a lotBB 7o)r +ay o- teac(ing is a+esome& 7o) made )s )nderstand eac( and every
concept clear and very +ell& 7o)r motivation t(ro)g( c(ocolates and cas( pries +as 'rilliant& >re=)ent test
series +as really e--ective& It (elped me to improve mysel- 'etter and 'etter to ac(ieve my goal& Mam yo)r
>ood -or t(o)g(t is )n-orgetta'le& Mam ? Sir yo) (ave ')ilt a great con-idence in me t(at I (ave cleared my
".T con-idently& 7o) 'ot( are inspiration -or me and yo) loo* good toget(er& I really loved to 'e a st)dent
o- t(is Instit)te& T(an*s a lotBBB
AI CHANANA
!e(a Mam ? Vai'(av Sir T(an* yo) sooooooo m)c(& 7o) are t(e 'estest teac(er ever& 7o) are very
(ard+or*ing and nicest teac(er -or ".T and al+ays enco)rage )s to do even more 'etter& 7o)r motivational
+ays li*e c(ocolates cas( pries and Ran*ing system is t(e 'estest t(ing& It creates competitive po+er
among st)dents and (elp-)l in scoring 'etter t(an last time& I -eel t(at I am very l)c*y t(at I 1oined
M&8&9$.T " ":SS#S -or my ".T preparation& ,ear Mam ? Sir ;ope yo) +ill get all t(e (appiness
in yo)r li-e& :ove yo) 'ot(& KL
TUHA GUPTA
T(is is 1)st a little note to e0press my in-inite gratit)de to+ards 'ot( o- yo)& I never (ad interest in myst)dies d)ring my sc(ool days& )t a-ter I 1oined yo)r classes I e0perienced great c(anges in my attit)de
to+ards st)dies and li-e in general& T(e (ard+or* t(at yo) invested in me is tr)ly commenda'le& I am deeply
t(an*-)l to yo) -or (elping me move )p in t(e ladder o- s)ccess&
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F3
T(e atmosp(ere at M8 9$.T ":SS#S +as very motivating& ,e-initely +(en yo) see so many
meritorio)s st)dents and e0cellent g)idance )nder one roo- one is motivated to per-orm ones 'est&
T(e test series gave me an idea a'o)t t(e pattern o- t(e main e0am& It (elped me a lot +(ile tac*ling t(e
main paper&
OKEH MAHOTA
M&8&9$.T " ":SS#S (ave 'een very in-l)ential in res(aping my -oc)s to+ards ed)cation& T(ey
dont preac( )s to 'e a 'oo*+orms& Instead t(ey )nderstand t(at c(ildren today need everyt(ing -rom
g)idance and motivation to am)sement and entertainment& #arlier my -oc)s +as to cram t(e -acts =)ic*ly
'e-ore t(e e0ams and score good mar*s& )t a-ter I 1oined t(is instit)te I realied t(e importance o-
)nderstanding t(e concepts&
T(e teac(ers (ere are very sincere and (ard+or*ing t(at a tr)e -ait( on t(eir re-lected pat( +ill ena'le yo) to
s)cceed& T(e teac(ing style t(e assignments given and t(e test series cond)cted are sel- s)--icient -or ".T
preparation& nd t(e icing on t(e ca*e is t(e c(ocolates pries and t(e trop(ies +(ic( o--er a lot o-
incentive to +or* (ard&
DE5ANI AIN+esome e0perience& I really en1oyed t(ese -e+ mont(s& I (adnt e0pected t(em to 'e so good&
.er-ect class timings +it( 'est 'rains st)dying in it& 'ove all 'ot( t(e teac(ers +ere energetic and -)ll o-
li-e al+ays +it( good ()mor and enco)raging nat)re ()m'le -riendly and con-ident& Simply t(e 'est&
AA5 K E
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F4
NA5A MAHOTA
It +as indeed o)r pleas)re t(at +e got t(e opport)nity to (ave o)rsel- enrolled in M&8&9$.T ":SS#S& I
can never ever -orget in my li-e t(e moments spent (ere& T(e e--orts o- mam and sir +ere o)tstanding and
Ill miss t(em al+ays&
H5AN AIN
I am (ig(ly o'liged to M&8&9$.T ":SS#S and dedicate my ac(ievement to t(em& T(ey -oc)s on
concepts rat(er t(an meaningless cramming& Vai'(av sir and !e(a mam are 'est teac(ers -or "L".T and
M&8&9$.T ":SS#S is t(e 'est instit)te -or ".T&
A5UH AIN
M8 9$.T " ":SS#SBBB (at to say a'o)t t(is placeA& So many places I (ave seen ')t a place li*e
t(is +as )nseen& T(e t+o mont(s o- my li-e I spent (ere are memora'le& 9ot t(e 'est ed)cation 'est
teac(ers 'est environment +(ic( (elped me clear t(e ".T #M&Vai'(av Sir !e(a Mam L 2 mont(s mein main aap*o 1itna 1aaan paaya ()n P ) 'ot( r 1)st made -or eac(
ot(er aise 'a()t *am log (ote (ain 1in(e apne 1aise (i partner mil 1aaye& ot( o- ) r soo l)c*yB
re approac(a'le still (ave an attit)de +(ic( i 1)st love& large (earted sooo m)c( dedicated& Serio)sly o)t
o- t(is +orld& a1*al *a(a (ote (ain aise log& Sometimes I really +is(&& I co)ld 'e yo)&& BBB K QrespectQ Q
sal)teQ &
K ATIK GOE
:i*e many ot(ers I dont (ave +ords to e0press my gratit)de to 'ot( o- ) MM n SIR&&&& ')t one t(ing is
-or s)re t(at +it(o)t yo)r 9$I,!"# "R# n :#SI!9S t(is ".T e0am +o)ldnt (ave 'een a
ca*e+al* -or me&&&& I t(an* $ t+o -rom t(e 'ottom o- my (eart -or M#!TORI!9 a d)m'(ead li*e M# to
t(e pat( o- S$""#SS&&&&&& o)r 1o)rneys toget(er mig(t (ave ended ')t t(ese memories +ill al+ays 'ec(eris(ed 'y me&&&& T;!87O$&&&&& K, K
ANU CHHIKAA
It +as a+esome 'eing at M&8& 9$.T " ":SS#S and teac(ers li*e ) are (ard to -ind& I e0perienced t(e
di--erence o- yo)r dedication and (ard +or* -or yo)r pro-ession& It +as really -ar 'etter t(an I"I& 7o)r
moc* test arrangements +ere 1)st -a')lo)s& #very t(ing +as as great as ) at classes& T(an* ) mam and sir&
:ove )))))))))))))))))))))))))) and never -orget )s&
;V# >!TSTI" !, S$""#SS>$: >$T$R#&
MOHIT K HUANA
Its 'een an a+esome 1o)rney +it( yo) &&& I still +is( it never ended& >rom t(e day one to no+&&7o) +ereal+ays in to)c( +it( eac( and everyone o- )s t(ro)g( disc)ssions& T(ro)g( mails t(ro)g( sms t(an* yo)
so m)c( -or 'lessings and care t(at yo) s(o+ered )pon )s&& 7O$ R$:# O$R ;#RTS I love yo)
g)ys
A5UH AGGA
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F6
OHIT
Sir Mam t(an*s a lots -or all yo)r teac(inggggg love and a--ection '()t *)c(( si*(ne *o mila e0cept
".T&&&&&&&&& ".T to *a(in se '(i *ar leta ')t 1o apneeeeeeeee si*(yaaaa&& tr)lyyy no one else can teac(((((
t(an*s a lotttttttt miss )&
K UMAI HIKKHA MIHA
T(e )ni=)eness o- t(is instit)te is t(at it c(anged a “:oser into a 9oLgetter%& !e(a Mams con-idence in me
and Vai'(av Sirs command in (is s)'1ect +ere t(e greatest inspiration -or me& “I- yo) say t(at Teac(ing is
neit(er a ')siness nor a pro-ession -or )s rat(er it is a passion -or doing somet(ing good great and )ni=)e in
t(e -ield o- teac(ing&% 7o) really mean it&
!o instit)te co)ld (ave cele'rated t(e “S$""#SS .RT7 #>OR# R#S$:TS%& I respect yo) Sir and
Mam -rom t(e deepest core o- my (eart& ot( o- yo) are my im& “S$""#SS :O!9 IT;
;$M:#!#SS IS T;# ,#>I!ITIO! O> R#S.#"T#, VI;V SIR !, !#; MM&%
T(an* yo) so M)c(&
IHA ANCHETI
Its really a great pleas)re to 'e +it( Vai'(av Sir ? !e(a Mam& T(ey are simply t(e great teac(ers +(om Iever met in my li-e& T(e 'est t(ing a'o)t Vai'(av sir is t(at (e motivates t(e st)dents in s)c( a +ay t(at
(e/s(e cant t(in* to do anyt(ing else e0cept s)ggested 'y Sir& >or !e(a Mam it is (er s)pport and cali'er
+(ic( derives a st)dent to -oc)s on t(eir st)dies& ot( o- t(em are not only good teac(ers ')t also t(ey are
great ()man 'eings& T(ey +or* toget(er in a gro)p li*e parents -or st)dents and are doing a great 1o'& So
*eep doing nice 1o'& "arry on&
IHAH OHA
My 1o)rney o- " ".T (as 'een t(e most en1oya'le and *no+ledge part o- my li-e +(ic( I +o)ld c(eris(
-or li-etime& T(e +ay yo) teac( s)c( important and di--ic)lt concepts easily and in an e--icient manner
SIM.:7 ;TS O>>&&BB
AKKI K HANNA
Ue are li*e c(ildren +(o stand in need o- masters to enlig(ten )s and direct )s and 9od (as provided -or
t(is 'y appointing (is angels to 'e o)r teac(ers and g)idesU&&&li*e )&&maam ? sir&&&&
T(an*&&&&&to 'ot( maam ? sir -or teac(ing st)dents in a very good manner ? -or s(aring inspirational
t(ings +it( t(e st)dents&&&&K n t(ese 6C days are t(e 'est days o- my li-e Ill never going to -orgot t(ese
days&&&in -)t)re&&&&
Maam n sir ) 'ot( are 1)st a+esome&&&&&&&& U;TS O>>U to 'ot( maam ? sir&&K
PACHI IKI
Mam Sir +ill miss ) 'ot( a lot&& T(e *no+ledge inc)lcated 'y ) is act)ally a treas)re -or li-eA& nd +illc(eris( it -or li-etime&& 7o)r +ay o- teac(ing and li-e e0periences ? t(ose 'ea)ti-)l stories told 'y yo)&&
+esome&&
MOHIT K ATHPAIA
T(e overall e0perience +as o)tstanding +it( Sir ? Mam& Vai'(av Sir started )s +it( t(e scratc( and cleared
o)r 'asic )nderstanding o- eac( topic& !e(a mam is very s)pportive especially story telling sessions and
t(ose videos +(ic( a)tomatically ')ilt in )s sel- con-idence and sel- 'elie- t(at +e can do it& 7es t(is is t(e
place yo) can tr)st&
MANU AGGA
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F
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FD
I +o)ld li*e to e0press my sincere t(an*s to Vai'(av Sir ? !e(a Mam -or t(eir e--orts +(ic( res)lted in my
s)ccess in ".T e0ams& It +as an (ono)r to 'e a part o- M&8&9$.T " ":SS#S& T(eir teac(ing style
t(eir +ay o- motivating t(e st)dents +it( cas( pries and c(ocolates is tremendo)s& Reg)lar tests 'ased on
e0amination pattern +ere cond)cted every +ee* +(ic( prepared me to -ace t(e e0am con-idently& T(eir
s)pport and g)idance (ave al+ays enco)raged me to give my 'est& #ven t(e sta-- (as to 'e appreciated&
T;!8 7O$ once again -or all yo)r love and 'lessings& ill Miss yo)A
HAAD GAA
“.arents are t(e -irst teac(ers and teac(ers are second parents% goes t(e -amo)s saying& T(is +as proved
correct +(en my parents led and g)ided me to t(e M&8&9$.T " ":SS#S -or my ".T coac(ing& T(e
vast *no+ledge and e0perience o- t(e -ac)lty ma*es t(e concepts easier to )nderstand& T(eir )nmatc(a'le
style o- teac(ing co)pled +it( t(eir patience and calmness in dealing +it( st)dents and (andling t(eir
=)eries is really e0cellent& T(e str)ct)re o- learning pattern and scienti-ic approac( to+ards learning made
t(e 1o)rney easy and ')ild )p t(e con-idence needed -or t(e e0amination& T(an* yo) not only -or yo)r
g)idance ')t also -or yo)r motivation -or 'eing a 'etter ()man&
AKHI PAHood -or
T(o)g(t inspiring videos -)nny advertisements -or re-res(ment yo) made it all very easier and its 1)st
'eca)se o- yo) Sir ? Mam t(at I am in stage II I."" o- t(e pro-ession "& T(an* yo)B
AMAN
,ear sir ? Mam It +ont 'e -air i- yo) dont introd)ce yo)rsel- as ".T 9$R$S& 7o)r teac(ing style is
a+esome moreover amaing practical e0amples (elps adding more to o)r *no+ledge& I still miss Vai'(avSirs :a+ classes and yo)r +ay o- teac(ing even made mat(s interesting& !e(a Mams cco)nts classes ?
inspiring >OO, >OR T;O$9;T I can never -orget it& Sometimes s(o+ing inspiring and enco)raging
videos in class +as very motivating -or )s& T(e e0perience in EM8 9$.T " ":SS#S +as one o- t(e
most pleasant e0periences o- my li-e& T;!8 7O$ V#R7 M$"; MM ? SIR&
UAHI NAGPA
T;!8 7O$ !#; MM ? VI;V SIRBB
7o) g)ys are t(e 'est& I appreciate all yo)r (ard+or* and e--orts yo) p)t in -or ed)cating )s t(e c(ocolates
t(e videos t(e cas( pries t(e -ood -or t(o)g(t everyt(ing +as inspirational to contin)e learning +it( an
open and positive mind& 7o) are not only teac(ers ')t a -riend p(ilosop(er and a g)ide& :: T;# #ST
!, T;!8 7O$ OT; 9I!A :$V 7O$A& AAUHI DHINGA
,ear Sir ? Maam I -elt really o'liged to 'e at M8 9$.T " ":SS#S +it( s)c( a great -ac)lty& Time
spent at M89 is +ort( remem'ering& Really en1oyed eac( and every moment o- M89&&& T(e =)ality o-
st)dy material provided is really good as it covers =)estions o- all di--ic)lty levels& T(e cas( pries given
a-ter eac( test really inspires t(e st)dents& I am really inspired -rom 'ot( o- yo)& ay o- teac(ing is
e0cellent& !e(a Mam yo)r -ood -or t(o)g(t and Vai'(av Sirs video are really inspiring& ot( o- yo) are not
only good teac(ers ')t people +it( 9O:,#! ;#RT& I really t(an* my dad -or c(oosing d +orlds 'est
instit)tion&&&& I really +anna 'e li*e yo) 'ot(&&& Missing M89& :ove yo) 'ot(&
AKHI AUA
,ear sir ? mam I s)ccess-)lly cleared my ".T and -rom t(e 'ottom o- my (eart me ? my parents really
t(an* 'ot( o- yo)& 7o) really ta)g(t )s +ell& ll t(e MO"8 T#STs and everyday assignments +(ic( seem
to 'e a danger sign to me act)ally t(e real pat( o- t(is 1o)rney 'eca)se o- +(ic( only I cleared my ".T& My
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FH
overall e0perience (ere is so great t(at I cant even e0press in +ords& #veryt(ing I (ave e0perienced (ere
t(e (appiness +(ile st)dying all t(e -)n I pray to 9O, t(at may EO$R I!STIT$T# -lo)ris( li*e t(is
al+ays and every aspiring " starts (is 1o)rney -rom M&8&9$.T ":SS#S& :ove yo) Maam ? Sir
NIHCHINT A
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2C
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Income $nder T(e ;ead )siness/.ro-ession 2F
POIT AND GAINO
UINE O POEION
BPGP
ECTION 28 TO 44D
PATICUA ECTIONP(*"& #+ g#*& ( &*'&& ( !('&&*( $#g'#*%*"F/ &$(!' ( *$(m' +' "*&
'#+
28
I$(m' (m !(*"& #+ g#*& ( &*'&& ( !('&&*( (w $(m!"'+ 29
'" #"'& "#,'& '!#*& #+ *&#$' ( *%+*g& 30
'!#*& #+ *&#$' ( m#$*'F !%#" #+ *"' 31
D'!'$*#"*( 32
T'#"m'" ( #&('+ +'!'$*#"*( 32=2>
T'# +''%(!m'" #$$("/C('' +''%(!m'" #$$(" #+ ' +''%(!m'"
#$$("
33A
*"' '&"(#"*( + 33AAE,!'+*"' ( &$*'"**$ '&'#$ 3J
E,!'+*"' ( ("#**g %*$'$' "( (!'#"' "'%'$(mm*$#"*( &'*$'& 3JA
E,!'+*"' ( '%*g*%' !('$"& ( &$'m'& 3JAC
D'+$"*( * '&!'$" ( ',!'+*"' ( &!'$**'+ &*'&& 3JAD
E,!'+*"' F w#F ( !#Fm'" "( #&&($*#"*( #+ *&"*""*(& ( #%
+''%(!m'" !(g#mm'& 3JCCA
E,!'+*"' ( #g*$%"#% ',"'&*( !('$" 3JCCC
E,!'+*"' ( &k*%% +''%(!m'" !('$" 3JCCD
Am("*"*( ( $'"#* !'%*m*#F ',!'&'& 3JD/%' 6A
Am("*"*( * $#&' ( #m#%g#m#"*( ( +'m'g' 3JDD
Am("*"*( ( ',!'+*"' *$'+ +' (%"#F '"*'m'" &$'m' 3JDDAO"' +'+$"*(& 36
I&#$' !'m*m ( &"($k& 36=1>=*>
I&#$' !'m*m ( $#""%' 36=1>=*#>
I&#$' ( '#%" ( 'm!%(F''& 36=1>=*>
(& ( $(mm*&&*( "( 'm!%(F''& 36=1>=**>
I"''&" ( ((w'+ $#!*"#% 36=1>=***>
D*&$(" ( L'( $(!( (+& 36=1>=***#>
Em!%(F'& $("*"*( "( # '$(g*&'+ !(*+'" + ( #!!('+
&!'##"*( +
36=1>=*>
Em!%(F'& $("*"*( "( # #!!('+ g#"*"F + 36=1>=>
m& '$'*'+ (m 'm!%(F''& "(w#+& $'"#* w'%#' &$'m'& * $'+*"'+ "( "'*
#$$("& '(' "' +' +#"' 36=1>=#>
A%%(w#$' * '&!'$" ( +'#+ ( !'m#'"%F &'%'&& #*m#%& 36=1>=*>
#+ +'"& 36=1>=**>
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Income $nder T(e ;ead )siness/.ro-ession 22
P(*&*(& ( #+ #+ +("% +'"& * '&!'$" ( #% #$'& ( &$'+%'+
#k& ( ()&$'+%'+ #k& 36=1>=**#>
E,!'+*"' ( !(m("*g #m*%F !%#*g #m(g&" "' 'm!%(F''& 36=1>=*,>
G''#% +'+$"*(& 37=1>
A+'"*&'m'" "( !(%*"*$#% !#"*'& 37=2>
*%+*g '"$. !#"%F &'+ ( &*'&& #+ !#"%F ( !'&(#% !!(&'. 38
Am("& (" +'+$"*%' 40
E,!'&'& ( !#Fm'"& (" +'+$"*%' * $'"#* $*$m&"#$'& 40A
P#Fm'"& "( '%#"*'&/'%#"'+ !'&(& 40A=2>
D*%%(w#$' (" ( $#& ',!'+*"' ',$''+*g `20000 40A=3>/%' 6DD
D*%%(w#$' * '&!'$" ( !(*&*( ( g#"*"F 40A=7>
D*%%(w#$' * '&!'$" ( $("*"*( "( ()&"#""(F +& 40A=9>
D''m'+ !(*"& $#g'#%' "( "#, 41
A$"#% $(&" 43=1>
M'#*g ( P#*+ 43=2>
D'**"*( ( P%#" 43=3>M'#*g ( $*'"**$ '&'#$ 43=4>
C'"#* +'+$"*(& "( ' (%F ( #$"#% !#Fm'" 43
M#*"'#$' ( #$$("& F $'"#* !'&(& $#F*g ( &*'&& ( !('&&*( 44AA/%' 6
C(m!%&(F #+*" ( #$$("& 44A/%' 6G
!'$*#% !(*&*(& ( $(m!"*g !(*"& #+ g#*& ( &*'&& ( $**% $(&"$"*( 44AD
!'$*#% !(*&*(& ( $(m!"*g !(*"& #+ g#*& ( &*'&& ( !%F*g **g (
%'#&*g g((+& $#*#g'
44AE
!'$*#% !(*&*(& ( $(m!"*g !(*"& #+ g#*& ( &*!!*g &*'&& * "' $#&'
( ()'&*+'"&
44
!'$*#% !(*&*(& ( $(m!"*g !(*"& #+ g#*& ( &*'&& ( (!'#"*( (#*$#" * "' $#&' ( ()'&*+'"& 44A
M'"(+ ( #$$("*g 14J
%($k ( A&&'"& 2=11>
D'**"*( ( &*'&& 2=13>
D'**"*( ( P('&&*( 2=36>
D'**"*( ( %m! #%' 2=42C>
THEO5 UETION
1. @Im!.
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Income $nder T(e ;ead )siness/.ro-ession 23
1961
12. I& *" m#+#"(F "( $%#*m +'!'$*#"*(
13. E,!%#* #%%(w#*%*"F ( +'!'$*#"*( * $#&' ( #&&'"& (" (w'+ F "' #&&'&&''.
14.
1J.
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Income $nder T(e ;ead )siness/.ro-ession 24
J3.
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Income $nder T(e ;ead )siness/.ro-ession 26
=**> "as( assistance received in connection +it( e0ports&
=***> ,)ty dra+'ac* o- e0cise and c)stom&
I- any man)-act)rer (as paid e0cise d)ty or c)stom d)ty in connection +it( t(e p)rc(ase o- ra+ materials
etc and s)'se=)ently goods man)-act)red 'y (im (ave 'een e0ported in s)c( cases t(e 9overnment may
pay (im 'ac* t(e e0cise d)ty and c)stom d)ty paid 'y (im as per t(e sc(eme o- t(e 9overnment& It +ill 'e
called d)ty dra+'ac* and s(all 'e considered to 'e e0port incentive and considered to 'e income )nder t(e
(ead ')siness/pro-ession&
Example
" :td& (as comp)ted its income to 'e `2CCCCCC and some o- t(e entries noted -rom pro-it and loss
acco)nt are as given 'elo+K
F& "ompany (as de'ited t(e amo)nt o- opening stoc* `33CCCCC +(ic( is overval)ed 'y FCG&
2& "ompany (as received d)ty dra+'ac*s o-`
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Income $nder T(e ;ead )siness/.ro-ession 2
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Income $nder T(e ;ead )siness/.ro-ession 2D
c contract entered into 'y a mem'er o- -or+ard mar*et or a stoc* e0c(ange in t(e co)rse o- 1o''ing or
ar'itrage to g)ard against loss in t(e ordinary co)rse&
E,!%##"*( "( &'$"*( 73
(ere any part o- t(e ')siness o- a company ot(er t(an a company +(ose gross total income consists
mainly o- income +(ic( is c(argea'le )nder t(e (eads “Income -rom (o)se property% “"apital gains% and
“Income -rom ot(er so)rces% or a company t(e principal ')siness o- +(ic( is t(e ')siness o- 'an*ing or t(e
granting o- loans and advances consists in t(e p)rc(ase and sale o- s(ares o- ot(er companies s)c( company
s(all -or t(e p)rposes o- t(is section 'e deemed to 'e carrying on a spec)lation ')siness to t(e e0tent to
+(ic( t(e ')siness consists o- t(e p)rc(ase and sale o- s)c( s(ares&
I$(m' (m !(*"& #+ g#*& ( &*'&& ( !('&&*( (w $(m!"'+ '$"*( 29
T(e income re-erred to in section 2D s(all 'e comp)ted in accordance +it( t(e provisions contained in
sections 3C to 43,&
'&"*( 3:
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Income $nder T(e ;ead )siness/.ro-ession 2H
'&"*( 4: )rnit)re and -ittings incl)ding electrical -ittings FCG
“#lectrical -ittings% incl)de electrical +iring s+itc(es soc*ets ot(er -ittings and -ans etc&
III. M#$*'F #+ P%#"
P%#": '$"*( 43=3>: “.lant% incl)des s(ips ve(icles 'oo*s scienti-ic apparat)s and s)rgical e=)ipment
)sed -or t(e p)rposes o- t(e ')siness or pro-ession ')t does not incl)de tea ')s(es or livestoc* or ')ildings
or -)rnit)re and -ittings.
F& Mac(inery and plant ot(er t(an t(ose mentioned 'elo+ li*e airLconditioner generator
-ireLe0ting)is(er etc&
F5G
2& Motor cars ot(er t(an t(ose )sed in a ')siness o- r)nning t(em on (ire F5G
3& eroplanes ero engines 4CG
4& Motor ')ses motor lorries and motor ta0is )sed in a ')siness o- r)nning t(em on (ire 3CG
5& "omp)ters incl)ding comp)ter so-t+are 6CG
6& oo*s o+ned 'y assessees carrying on ')siness in r)nning lending li'raries FCCG
“loc* o- assets% means a gro)p o- assets -alling +it(in a class o- assets comprising
i Tangi'le assets 'eing ')ildings mac(inery plant or -)rnit)re&
ii Intangi'le assets 'eing *no+L(o+ patents copyrig(ts Trademar*s licences -ranc(ises or any ot(er
')siness or commercial rig(ts o- similar nat)re in respect o- +(ic( t(e same percentage o-
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Income $nder T(e ;ead )siness/.ro-ession 3C
depreciation is prescri'ed&
#ac( class o- assets (as 'een -)rt(er divided into 'loc*s +it( a partic)lar rate o- depreciation -or eac( 'loc*&
Intangi'le assets (o+ever (ave 'een gro)ped into one 'loc* only +it( a depreciation rate o- 25G&
A&&'"& !$#&'+ +*g "' F'# #+ !" "( &' ( %'&& "# 180 +#F&
I- any partic)lar asset is p)rc(ased d)ring t(e year and it (as 'een p)t to )se -or less t(an FDC days d)ring
t(e year in t(at case depreciation is allo+ed at (al- t(e normal rate& I- it is p)rc(ased d)ring t(e year and is
not at all p)t to )se depreciation s(all not 'e allo+ed& )t in t(e s)'se=)ent year +(enever t(e asset is p)t
to )se -)ll depreciation s(all 'e allo+ed irrespective o- period o- )se&
BP" "( &' do not mean p)tting t(e asset to act)al )se rat(er it means ma*ing an asset ready -or )se&
Example
" :td& (as p)rc(ased one plant and mac(inery on CF&Cor e0ample depreciation can 'e claimed 'y a transport company on spare engines
*ept in store in case o- need t(o)g( t(ey (ave not act)ally 'een )sed 'y t(e company& ;ence in s)c( cases
t(e term “)se% em'races 'ot( active )se and passive )se& ;o+ever s)c( passive )se s(o)ld also 'e -or
')siness p)rposes&
T(e ,el(i ;ig( "o)rt in CIT v. Insilco Ltd. (2009) 179 Taxman 55, o'served t(at t(e e0pression “)sed -or t(e
p)rposes o- ')siness% appearing in section 32 also ta*es into acco)nt emergency spares +(ic( even t(o)g(
ready -or )se yet are not cons)med or )sed d)ring t(e relevant period& T(is is 'eca)se t(ese spares are speci-ic
to a -i0ed asset namely plant and mac(inery and -orm an integral part o- t(e -i0ed asset& T(ese spares +ill inall pro'a'ility 'e )seless once t(e asset is discarded and +ill also (ave to 'e disposed o-& In t(is sense t(e
concept o- passive )se +(ic( applies to stand'y mac(inery +ill also apply to emergency spares& T(ere-ore once
t(e spares are considered as emergency spares re=)ired -or plant and mac(inery t(e assessee +o)ld 'e entitled to
capitalie t(e entire cost o- s)c( spares and claim depreciation t(ereon&
D'!'$*#"*( * $#&' ( ('*g m#+' m("( $#&: ,epreciation s(all 'e allo+ed at t(e normal rates&
#arlier depreciation +as not allo+ed in some cases
C(m!"#"*( ( +'!'$*#"*(
$nder Income Ta0 ct depreciation s(all 'e comp)ted in t(e manner given 'elo+K
F& Ta*e opening +ritten do+n val)e o- t(e partic)lar 'loc* o- asset as on Fst day o- pril o- t(e relevant
year&
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Income $nder T(e ;ead )siness/.ro-ession 3F
2& dd p)rc(ases d)ring t(e year&
3& ,ed)ct sale val)e in case o- sale and amo)nt o- ins)rance claim in case o- -ire or t(e-t etc& or scrap
val)e in case o- discarded assets&
4& pply depreciation on t(e 'alance amo)nt as on t(e last day o- t(e year&
5& I- any asset +as p)t to )se -or less t(an FDC days depreciation s(all 'e allo+ed at (al- t(e normal rate
and -or t(is p)rpose its act)al cost s(all 'e separated -rom t(e total +ritten do+n val)e o- t(e 'loc*
and i- total +ritten do+n val)e is less t(an t(e act)al cost depreciation s(all 'e applied on t(e +ritten
do+n val)e o- t(e 'loc* at (al- t(e normal rate&
6& I- t(ere is a negative 'alance at t(e end o- t(e year it +ill 'e considered to 'e s(ort term capital gain as
per section 5C and no depreciation is allo+ed&
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Income $nder T(e ;ead )siness/.ro-ession 32
*"#"*( 4:
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Income $nder T(e ;ead )siness/.ro-ession 33
,epreciation X FCG 3CCCC
%($k III
M("( $# +'!'$*#"*( - 1J
.)rc(ased on CF&CH&2CF2 p)t to )se on same date 25CCCC
,epreciation X F5G 3
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Income $nder T(e ;ead )siness/.ro-ession 34
,epreciation X F5G on `FC5HCCCC F5DD5CC&CC
,epreciation X
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Income $nder T(e ;ead )siness/.ro-ession 35
2& :aptop 23CCC
3& >)rnit)re >i0t)re FFCCC
,)e to a -ire in t(e o--ice premises laptop and -)rnit)reL-i0t)re +ere destroyed and (e (as received a
claim o- `FHCCC -or laptop and `F2CCC -or -)rnit)re&
;e (as comp)ted income -rom ')siness `3CCCCC 'e-ore ta*ing into consideration depreciation or capital
gains +it( regard to t(e a'ove assets& "omp)te (is ta0 lia'ility -or assessment year 2CF3LF4&
(%"*(: `%($k I
M("( C#
ritten do+n val)e F6CCCC
,epreciation X F5G 24CCC
%($k II
#!"(!/C(m!"'&
ritten do+n val)e 23CCC
:essK Ins)rance claim FHCCC
S(ort term capital loss 4CCC
%($k III
*"' #+ *,"'
ritten do+n val)e FFCCC
:essK Ins)rance claim F2CCC
S(ort term capital gain FCCCIncome -rom )siness/.ro-ession 3CCCCC
:essK Total ,epreciation 24CCC
Income )nder t(e (ead )siness/.ro-ession 2
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Income $nder T(e ;ead )siness/.ro-ession 36
I%%&"#"*( J:
%($k I .lant and mac(inery "onsisting o- FC looms
Rate o- depreciation F5G +&d&v& 65CCCC
%($k II )ildings "onsisting o- 3 ')ildings
Rate o- depreciation FCG +&d&v& F45CCCC
c=)ired on C5&C
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Income $nder T(e ;ead )siness/.ro-ession 3)rnit)re FCG ` 5CCCC
.lant and Mac(inery F5G `2CCCCC
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Income $nder T(e ;ead )siness/.ro-ession 3D
>)rt(er on Octo'er F5 2CF2 M/s ,ines( ? "o& p)rc(ased a plant -or `FCCCCC rate o- depreciation F5G&
-ter conversion t(e company added anot(er plant +ort( `5CCCC rate o- depreciation F5G&
"omp)te t(e depreciation availa'le to i M/s ,ines( ? "o& and ii ,ines( "o& :td& -or assessment year
2CF3LF4&
(%"*(:
>i-t( proviso to section 32 is applica'le +(ile determining depreciation i- t(ere is c(ange o- o+ners(ip o-
assets 'eca)se o- conversion o- sole proprietary concern into company& In respect o- assets trans-erred to t(e
company depreciation +ill 'e calc)lated as)nderK `
Building
,epreciated val)e on pril Fst 2CF2 35CCCC
,epreciation X FCG 35CCC
Furniture
,epreciated val)e on pril F
st
2CF2 5CCCC,epreciation X FCG 5CCC
Plant and Macinery
,epreciated val)e on pril Fst 2CF2 2CCCCC
ddK "ost o- ne+ plant and mac(inery FCCCCC
ritten do+n val)e 3CCCCC
,epreciation X F5G on `2CCCCC 3CCCC
,epreciation X
“ritten do+n val)e% meansW
In t(e case o- any 'loc* o- assets +&d&v s(all 'e comp)ted in t(e -ollo+ing steps&
i ritten do+n val)e o- t(e 'loc* o- t(e asset at t(e 'eginning o- t(e year&
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Income $nder T(e ;ead )siness/.ro-ession 3H
ii dd t(e act)al cost o- any asset o- t(at 'loc* ac=)ired d)ring t(e previo)s year&
iii :ess amo)nt received in respect o- any asset +(ic( is sold or discarded or demolis(ed or
destroyed d)ring t(e year toget(er +it( t(e amo)nt o- t(e scrap val)e i- any&
'&"*( 8: #%' * "' F'# * w*$ "' #&&'" #& '' #$*'+
I- t(e asset is sold in t(e previo)s year in +(ic( it +as ac=)ired t(en t(ere +ill 'e s(ortLterm capital gain/
loss on sale o- s)c( asset&
=> #%' * "' &&''" F'#&
T'm*#% +'!'$*#"*(
I- t(e asset is sold in t(e s)'se=)ent years any loss on t(eir sale s(all 'e considered to 'e terminal
depreciation and s(all 'e allo+ed to 'e de'ited to t(e pro-it and loss acco)nt&
#%#$*g C#g' '$"*( 41=2>I- any asset (as 'een sold or destroyed etc& and depreciation +as claimed on S:M 'asis any amo)nt
received on sale etc& s(all 'e considered to 'e income )nder t(e (ead ')siness/pro-ession and s(all 'e called
'alancing c(arge ')t only to t(e e0tent depreciation +as de'ited to t(e pro-it and loss acco)nt&
I- t(e amo)nt is received a-ter closing do+n o- t(e ')siness still it +ill 'e considered to 'e income )nder
t(e (ead ')siness/pro-ession i&e& it +ill 'e a case o- (aving income )nder t(e (ead ')siness/pro-ession ')t
+it(o)t any ')siness/ pro-ession&
T(e e0cess over it s(all 'e ta0a'le as capital gains )nder section 5C&
Example" :td& is a po+er generating )nit and t(e company (as p)rc(ased one plant and mac(inery on
CF&C
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Income $nder T(e ;ead )siness/.ro-ession 4C
F& ritten do+n val)e o- t(e asset as on CF&C4&2CF2 is `F6FCCCC ')t it +as sold -or `=**#>
In t(e case o- any 'w m#$*'F ( !%#" +(ic( (as 'een ac=)ired and installed a-ter t(e 3F&C3&2CC5 'y
an assessee engaged in t(e ')siness o- m##$"' or !(+$"*( or in t(e ')siness o- generation or generation and distri')tion o- po+er additional depreciation at t(e rate o- 2CG o- t(e act)al cost o- s)c(
mac(inery or plant s(all 'e allo+ed&
A++*"*(#% +'!'$*#"*( *& (" #%%(w'+ in t(e -ollo+ing casesK
i ny mac(inery or plant +(ic( 'e-ore its installation 'y t(e assessee +as )sed eit(er +it(in or o)tside
India 'y any ot(er person or
ii ny m#$*'F ( !%#" *&"#%%'+ * #F (*$' !'m*&'& ( #F '&*+'"*#% #$$(mm(+#"*(
incl)ding accommodation in t(e nat)re o- a g)estL(o)se or
iii ny (*$' #!!%*#$'& or (#+ "#&!(" '*$%'& or &*!& #+ #*$#"
ivny m#$*'F or !%#" t(e w(%' ( "' #$"#% $(&" o- +(ic( is allo+ed as a ded)ction +(et(er 'y
+ay o- depreciation or ot(er+ise in comp)ting t(e income c(argea'le )nder t(e (ead “.ro-its and
gains o- ')siness or pro-ession% o- any one previo)s year&
!f te a""et i" purca"ed and put to u"e for le"" tan #$% day"& additional depreciation "all be allo'ed at
#%( and remaining additional depreciation "all not be allo'ed in te "ub"e)uent year*
I%%&"#"*( 7: >rom t(e -ollo+ing data calc)late t(e depreciation admissi'le to an individ)al carrying on
')siness -or t(e assessment year 2CF3LF4&
F& >actory )ilding ritten do+n val)e on CF&C4&2CF2 +as `F2CCCCC&
2& .lant and Mac(inery Rate F5G ritten do+n val)e on CF&C4&2CF2 is `D
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Income $nder T(e ;ead )siness/.ro-ession 4F
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Income $nder T(e ;ead )siness/.ro-ession 42
,epreciation X F5G 4Dor t(e p)rpose o- claiming depreciation t(e assessee m)st satis-y t(e -ollo+ing conditionsK
a T(e assessee m)st 'e t(e o+ner o- t(e asset& T(e o+ners(ip may 'e +(ole or -ractional&
' T(e asset m)st 'e )sed -or t(e p)rpose o- carrying on t(e ')siness or pro-ession o- t(e assessee&
c In t(e year o- ac=)isition i- t(e asset is p)t to )se -or less t(an FDC days t(en it is eligi'le -or only5CG o- t(e normal depreciation&
d T(e asset in respect o- +(ic( depreciation is claimed s(o)ld -all +it(in t(e eligi'le classi-ication o-
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Income $nder T(e ;ead )siness/.ro-ession 43
assetsL i&e&
Tangi'le assets'eing ')ildings mac(inery plant and -)rnit)re&
Intangi'le assets'eing *no+(o+ patents copyrig(ts trademar*s licences -ranc(ises or any ot(er
')siness or commercial rig(ts o- a similar nat)re&
'&"*( 12: I& *" M#+#"(F "( C%#*m D'!'$*#"*(
A&w':
s per e0planation 5 to section 32F it is mandatory -or every assessee to claim depreciation&
#0planation 5&W>or t(e removal o- do)'ts it is (ere'y declared t(at t(e provisions o- t(is s)'Lsection s(all
apply +(et(er or not t(e assessee (as claimed t(e ded)ction in respect o- depreciation in comp)ting (is
total income&
'&"*( 13: E,!%#* #%%(w#*%*"F ( +'!'$*#"*( * $#&' ( #&&'"& (" (w'+ F "' #&&'&&''.
A&w':D'!'$*#"*( * $#&' ( #&&'"& (" (w'+ F "' #&&'&&''
I- t(e ')siness or pro-ession o- t(e assessee is carried on in a ')ilding not o+ned 'y (im ')t in respect o-
+(ic( t(e assessee (olds a lease rig(t o- occ)pancy and any capital e0pendit)re is inc)rred 'y t(e assessee
on t(e constr)ction renovation e0tension improvement etc& to t(e ')ilding t(e assessee s(all 'e eligi'le
-or depreciation in t(e normal manner and it do not matter t(at t(e assessee is not t(e o+ner i&e& t(e
depreciation s(all 'e allo+ed even -or t(e ')ilding ta*en on lease ')t only +it( regard to t(e capital
e0pendit)re inc)rred 'y t(e assessee&
'&"*( 14:
A&w':
T'# C('' ( ' D''%(!m'" A$$(" '$"*( 33A,ed)ction is allo+ed to all t(e assessee +(o are engaged in gro+ing and man)-act)ring tea co--ee or r)''er
and ded)ction is allo+ed e=)al to t(e amo)nt deposited in an acco)nt opened +it( !ational an* -or
gric)lt)ral or R)ral ,evelopment and assessee is allo+ed ma0im)m ded)ction )pto 4CG o- t(e pro-it
'e-ore c(arging any amo)nt )nder section 33 and t(e amo)nt in t(is acco)nt s(o)ld 'e )tilised as per t(e
sc(eme o- Tea oard o- India "o--ee oard o- India R)''er oard o- India&
mo)nt s(all 'e deposited +it(in 6 mont(s -rom t(e end o- t(e previo)s year or 'e-ore t(e d)e date o-
-)rnis(ing o- ret)rn o- income +(ic(ever is earlier&
,ed)ction is allo+ed s)'1ect to t(e condition t(at t(e acco)nts o- t(e assessee (ave 'een a)dited 'y a
"(artered cco)ntant&
T(e amo)nt deposited in t(is acco)nt can 'e )tilised in accordance +it( t(e sc(eme speci-ied -or t(is
p)rpose& ;o+ever amo)nt cannot 'e )tilised -or any o- t(e p)rposes given 'elo+K
F& #0pendit)re on plant and mac(inery to 'e installed in any o--ice premises or residential accommodation
or g)est (o)se&
2& ny o--ice appliances e0cept comp)ters
3& #0pendit)re on any mac(inery or plant t(e cost o- +(ic( (as 'een de'ited to t(e pro-it and loss acco)nt
eit(er as depreciation or ot(er+ise&
4& ny ne+ mac(inery or plant to 'e installed in an ind)strial )nderta*ing -or t(e p)rpose o- ')siness o-
constr)ction man)-act)re or prod)ction o- any article or t(ing speci-ied in t(e list in t(e #levent(
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Income $nder T(e ;ead )siness/.ro-ession 44
Sc(ed)le&
I- t(e assessee (as already ta*en ded)ction and s)'se=)ently t(e amo)nt +as )tilised -or any o- t(e a'ove
mentioned p)rposes in t(at case t(e amo)nt so )tilised s(all 'e considered to 'e income o- t(e previo)s
year in +(ic( t(e amo)nt (as 'een so )tilised&
T(e amo)nt deposited in t(e special acco)nt is allo+ed to 'e +it(dra+n in t(e circ)mstance mentioned
'elo+K
i "los)re o- ')siness
ii ,issol)tion o- a -irm
iii ,eat( o- an assessee
iv .artition o- a ;ind) $ndivided >amily
v :i=)idation o- a company
I- t(e amo)nt (as 'een +it(dra+n on t(e clos)re o- t(e ')siness or on t(e dissol)tion o- t(e -irm it +ill 'e
considered to 'e income o- t(e year in +(ic( t(e amo)nt (as 'een +it(dra+n ')t in ot(er cases mentioned
a'ove it +ill not 'e considered to 'e income&
'&"*( 1J:
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Income $nder T(e ;ead )siness/.ro-ession 45
reven)e e0pendit)re o- `2 la*(s on scienti-ic researc( -rom CF&C
(ere a company engaged in t(e ')siness o- *()"'$(%(gF or in any ')siness o- m##$"' or
!(+$"*( ( #F #"*$%' ( "*g not 'eing an article or t(ing speci-ied in t(e list o- t(e elevent( sc(ed)leinc)rs any e0pendit)re on scienti-ic researc( on inL(o)se researc( and development -acility as approved 'y
t(e prescri'ed a)t(ority t(en t(ere s(all 'e allo+ed a ded)ction o- a s)m e=)al to "w( "*m'& o- t(e
e0pendit)re so inc)rred& In case o- e0pendit)re on p)rc(ase or constr)ction o- ')ilding e0pendit)re s(all 'e
allo+ed to t(e e0tent o- FCCG& #0pendit)re inc)rred on land s(all not 'e allo+ed&
I- t(e e0pendit)re (as 'een inc)rred prior to t(e year o- commencement o- ')siness e0pendit)re s(all 'e
allo+ed only to t(e e0tent o- FCCG&
!o company s(all 'e entitled -or ded)ction )nless it enters into an agreement +it( t(e prescri'ed a)t(ority
-or coLoperation in s)c( researc( and development -acility and -or a)dit o- t(e acco)nts maintained -or t(at
-acility& T(e prescri'ed a)t(ority s(all s)'mit its report in relation to t(e approval o- t(e said -acility to t(e,irector 9eneral in s)c( -orm and +it(in s)c( time as may 'e prescri'ed&
!o ded)ction s(all 'e allo+ed in respect o- s)c( e0pendit)re +(ic( are inc)rred a-ter t(e 3F&C3&2CF
(ere an asset representing e0pendit)re o- a capital nat)re on scienti-ic researc( is sold +it(o)t (aving
'een )sed -or ot(er p)rposes t(e sale proceeds ma0im)m to t(e e0tent o- capital e0pendit)re de'ited to t(e
pro-it and loss acco)nt s(all 'e c(argea'le to incomeLta0 as income o- t(e ')siness or pro-ession o- t(e
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Income $nder T(e ;ead )siness/.ro-ession 46
previo)s year in +(ic( t(e sale too* place and it do not matter t(at ')siness or pro-ession (as 'een closed
do+n at t(at time&
Example
" :td& p)rc(ased one plant and mac(inery -or ` 2C la*(s on CF&FC&2CC5 -or scienti-ic researc( and entire
amo)nt +as de'ited to t(e .ro-it and loss acco)nt s)'se=)ently t(e asset +as sold -or ` 23 la*(s in t(e year
2CF2LF3 in t(is case deemed income )nder section 4F3 s(all 'e ` 2C la*(s i&e& t(e amo)nt recovered on
sale ma0im)m to t(e e0tent o- t(e amo)nt de'ited& "apital gains s(all 'e comp)ted in t(e normal manner in
t(is case&
T#&' ( #&&'" "( "' (m#% &*'&&
I- any asset +as )sed -or scienti-ic researc( and s)'se=)ently it +as trans-erred to t(e normal ')siness in
s)c( cases it +ill 'e entered in t(e respective 'loc* o- assets and its +&d&v s(all 'e ta*en to 'e nil&
I%%&"#"*( 9: On CF&C4&2CF2 " :td& o+ns plants " and , rate o- depreciation F5G depreciated
val)e o- t(e 'loc* as on CF&C4&2CF2 is `54CCCC& On F4&C6&2CF2 plant # +(ic( +as initially p)rc(ased -or
`H6CCC -or cond)cting scienti-ic researc( is trans-erred -rom la'oratory to t(e -actory& !o ot(er asset is p)rc(ased or sold& >ind o)t depreciation allo+ed -or t(e previo)s year 2CF2LF3&
(%"*(: `Computation of 'ritten do'n +alue a" on ,#"t Marc -%#,
ritten do+n val)e as on pril Fst 2CF2 54CCCC
ddK "ost o- plant # trans-erred -rom la'oratory to -actory on @)ne F4 t( 2CF2
Yi&e& ` H6CCC,ed)ction o- ` H6CCC claimed )nder section 35Z !il
ritten do+n val)e as on 3F&C3&2CF3 'e-ore c(arging depreciation 54CCCC
,epreciation X F5G DFCCC
C#F (w#+ ( $#!*"#% ',!'+*"' ( &$*'"**$ '&'#$
T(e provisions o- section 322 s(all 'e applica'le +it( regard to t(e capital e0pendit)re o- scienti-icresearc( as t(ey apply to )na'sor'ed depreciation i&e& carry -or+ard s(all 'e allo+ed -or )nlimited period
and 'ro)g(t -or+ard e0pendit)re can 'e ad1)sted -rom any income )nder any (ead e0cept cas)al income&
A%%(w#*%*"F ( ',!'+*"' * $#&' ( #m#%g#m#"*(
(ere in a sc(eme o- amalgamation t(e amalgamating company sells or ot(er+ise trans-ers to t(e
amalgamated company 'eing an Indian company any asset representing e0pendit)re o- a capital nat)re on
scienti-ic researc( t(e provisions o- t(is section s(all apply to t(e amalgamated company as t(ey +o)ld
(ave applied to t(e amalgamating company i- t(e latter (ad not so sold or ot(er+ise trans-erred t(e asset&
M'#*g ( &$*'"**$ '&'#$ '$"*( 43=4>
i “Scienti-ic researc(% means any activities -or t(e e0tension o- *no+ledge in t(e -ields o- nat)ral or applied science incl)ding agric)lt)re animal ()s'andry or -is(eries and e0pendit)re inc)rred on scienti-ic
researc( s(all incl)de all e0pendit)re inc)rred -or t(e prosec)tion o- scienti-ic researc(&
Re-erences to scienti-ic researc( related to a ')siness s(all incl)de any scienti-ic researc( +(ic( may lead to
or -acilitate an e0tension o- t(at ')siness and any scienti-ic researc( o- a medical nat)re +(ic( (as a special
relation to t(e +el-are o- +or*ers employed in t(at ')siness&
Example
i " :td& (as inc)rred `2CCCCC on p)rc(ase o- plant and mac(inery -or t(e p)rpose o- scienti-ic
researc( relating to (is ')siness in t(is case entire e0pendit)re can 'e de'ited to t(e pro-it and loss acco)nt
instead o- permitting depreciation ')t i- t(e researc( is not related to t(e ')siness o- t(e assessee
e0pendit)re is not allo+ed&
ii " :td& (as p)rc(ased one ')ilding -or `5CCCCCC o)t o- +(ic( val)e o- land is `4CCCCCC& T(e
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Income $nder T(e ;ead )siness/.ro-ession 4
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Income $nder T(e ;ead )siness/.ro-ession 4D
Example
" :td& (as ta*en one licence -or telecomm)nication services and payment o- `25 la*(s (as made on
CF&C4&2CF2 and t(e licence s(all e0pire on 3F&C3&2CF
8/9/2019 Business Profession Salary
49/387
Income $nder T(e ;ead )siness/.ro-ession 4H
parent company&
'&"*( 18:
8/9/2019 Business Profession Salary
50/387
8/9/2019 Business Profession Salary
51/387
Income $nder T(e ;ead )siness/.ro-ession 5F
T(e -ollo+ing assets (ave 'een p)rc(ased -or +are(o)sing -acility and t(e pro-it o- `35CCCCC is comp)ted
+it(o)t giving e--ect to t(e -ollo+ingK
i Mac(inery p)rc(ased on 3C&C6&2CFF `
HCCCCC
ii :and p)rc(ased on 3C&C6&2CFF `F5CCCCC
iii Mac(inery p)rc(ased on 3F&F2&2CF2 ` HCCCCC
iv )ilding p)rc(ased on 3F&F2&2CFF `FCCCCCC
v )ilding "onstr)cted on 3F&C5&2CF2 `FHCCCCC
vi 9ood+ill p)rc(ased on 3F&C5&2CF2 ` HCCCCC
(%"*(:
D'+$"*( #%%(w#%' +' &'$"*( 3JAD
`
Mac(inery p)rc(ased on 3C&C6&2CFF HCCCCC 0 F&5 F35CCCC
Mac(inery p)rc(ased on 3F&F2&2CF2 HCCCCC 0 F&5 F35CCCC
)ilding p)rc(ased on 3F&F2&2CFF FCCCCCC 0 F&5 F5CCCCC
)ilding constr)cted on 3F&C5&2CF2 FHCCCCC 0 F&5 2D5CCCC
Total )nd set )p and noti-ied 'y t(e "entral 9overnment in t(is
'e(al-
t(e assessee s(all 'e allo+ed a ded)ction o- t(e amo)nt o- s)c( e0pendit)re inc)rred d)ring t(e
previo)s year&
8/9/2019 Business Profession Salary
52/387
Income $nder T(e ;ead )siness/.ro-ession 52
'&"*( 21:
8/9/2019 Business Profession Salary
53/387
8/9/2019 Business Profession Salary
54/387
Income $nder T(e ;ead )siness/.ro-ession 54
• D'+$"*( * $#&' ( #m#%g#m#"*(/D'm'g'
In case o- amalgamation t(e provisions o- t(is section s(all apply to t(e amalgamated company as t(ey
+o)ld (ave applied to t(e amalgamating company i- t(e amalgamation (ad not ta*en place&
In case o- demerger t(e provisions o- t(is section s(all apply to t(e res)lting company as t(ey +o)ld
(ave applied to t(e demerged company i- t(e demerger (ad not ta*en place&
I%%&"#"*( 11: " :td& an Indian "ompany +as incorporated on CF&C
8/9/2019 Business Profession Salary
55/387
Income $nder T(e ;ead )siness/.ro-ession 55
')siness as)nderK
F& #0pendit)re on advertisements `3 la*(s&
2& #0pendit)re on preparation o- pro1ect report and t(e report +as prepared 'y a concern +(ic( is
approved 'y t(e oard `D5CCC&
3& #0pendit)re in connection +it( travelling and stay in (otels `45CCC&
4& #0pendit)re on dra-ting and printing o- memorand)m and articles o- associations `4 la*(s&
ll t(e a'ove e0pendit)res (ave 'een de'ited to t(e pro-it and loss acco)nt and t(e company (as comp)ted
income to 'e ` < la*(&
T(e company (as commenced its ')siness on CF&C6&2CF2&
"ompanys pro1ect cost is`
5C la*(s and capital employed is 5< la*(s&
"omp)te companys ta0 lia'ility -or assessment year 2CF3LF4&
(%"*(:
` !et pro-it as per pro-it and loss acco)nt
8/9/2019 Business Profession Salary
56/387
Income $nder T(e ;ead )siness/.ro-ession 56
demerger o- an )nderta*ing t(e assessee s(all 'e allo+ed a ded)ction o- an amo)nt e=)al to (')*" o-
s)c( e0pendit)re -or eac( o- t(e *' s)ccessive previo)s years 'eginning +it( t(e previo)s year in +(ic(
t(e amalgamation or demerger ta*es place&
!o ded)ction s(all 'e allo+ed in respect o- t(e e0pendit)re mentioned a'ove )nder any ot(er provision o-
t(is ct&
M'#*g ( Am#%g#m#"*( '$"*( 2=1>
B Am#%g#m#"*( means t(e merger o- one or more companies +it( an e0isting company or t(e merger o-
t+o or more companies to -orm a ne+ company&
T(e company +(ic( is so merged is called t(e amalgamating company and t(e company +it( +(ic( it is
merged is called amalgamated company&
T(e merger s(o)ld 'e in s)c( a manner t(atW
i ll t(e property o- t(e amalgamating company s(o)ld 'ecome t(e property o- t(e amalgamated company&
ii ll t(e lia'ilities o- t(e amalgamating company s(o)ld 'ecome t(e lia'ilities o- t(e amalgamated
company&
iii S(are(olders (olding not less t(an 7J ( "' &#'& * "'m& ( #%' in t(e amalgamating company
'ecome s(are(olders o- t(e amalgamated company&
M'#*g ( D'm'g' '$"*( 2=19AA>
B D'm'g' means t(e trans-er 'y a demerged company o- its one or more )nderta*ings to any res)lting
company in s)c( a manner t(atW
i all t(e property o- t(e )nderta*ing 'eing trans-erred s(o)ld 'ecome t(e property o- t(e res)lting
company&
ii all t(e lia'ilities relata'le to t(e )nderta*ing 'eing trans-erred s(o)ld 'ecome t(e lia'ilities o- t(e
res)lting company&
iii t(e property and t(e lia'ilities o- t(e )nderta*ing are trans-erred at val)es appearing in its 'oo*s o-
acco)nt immediately 'e-ore t(e demerger&
iv t(e s(are(olders (olding not less t(an 7J o- t(e s(ares in term o- val)e in t(e demerged company
'ecome s(are(olders o- t(e res)lting company&
v t(e res)lting company iss)es in consideration o- t(e demerger its s(ares to t(e s(are(olders o- t(e
demerged company on a proportionate 'asis&
'&"*( 2J:
8/9/2019 Business Profession Salary
57/387
8/9/2019 Business Profession Salary
58/387
Income $nder T(e ;ead )siness/.ro-ession 5D
(# ( #$**g $#!*"#% #&&'"
ny amo)nt o- t(e interest paid in respect o- capital 'orro+ed -or ac=)isition o- an asset -or ',"'&*( (
',*&"*g &*'&& ( !('&&*( -or any period 'eginning -rom t(e date on +(ic( t(e capital +as 'orro+ed
-or ac=)isition o- t(e asset till t(e date on +(ic( s)c( asset +as -irst p)t to )se s(all not 'e allo+ed as
ded)ction rat(er interest (as to 'e capitalised ')t interest s)'se=)ent to t(e date o- p)tting t(e asset to )se
s(all 'e allo+ed )nder section 43F&
Example
" :td& is an e0isting company and it (as 'orro+ed `2C la*(s X FCG on CF&C
R'( C(!( (+ m'#& # (+
a iss)ed 'y any in-rastr)ct)re capital company or in-rastr)ct)re capital -)nd or p)'lic sector company&
' in respect o- +(ic( no payment and 'ene-it is received or receiva'le 'e-ore mat)rity or redemption
-rom in-rastr)ct)re capital company or in-rastr)ct)re capital -)nd or p)'lic sector company and
c +(ic( t(e "entral 9overnment may 'y noti-ication in t(e O--icial 9aette speci-y in t(is 'e(al-&
T(e pro rata amo)nt o- disco)nt on a ero co)pon 'ond (aving regard to t(e period o- li-e o- s)c( 'ond
calc)lated in t(e manner as may 'e prescri'ed s(all 'e allo+ed to 'e de'ited&
i BD*&$(" means t(e di--erence 'et+een t(e amo)nt received 'y t(e in-rastr)ct)re capital company or
in-rastr)ct)re capital -)nd or p)'lic sector company or sc(ed)led 'an* iss)ing t(e 'ond and t(e amo)nt
paya'le 'y s)c( company or -)nd or p)'lic sector company or sc(ed)led 'an* on mat)rity&
ii BP'*(+ ( %*' ( "' (+ means t(e period commencing -rom t(e date o- iss)e o- t(e 'ond and
ending on t(e date o- t(e mat)rity&
T(e minim)m period s(all 'e FC years and ma0im)m period s(all 'e 2C years&
'&"*( 28: E,!%#* +'+$"**%*"F ( 'm!%(F'& $("*"*( "(w#+& '$(g*&'+ P(*+'" +
'"$.
A&w':
Em!%(F'& $("*"*( "( '$(g*&'+ P(*+'" + ( A!!('+ !'##"*( + '$"*(
36=1>=*>ny s)m paid 'y t(e assessee as an employer 'y +ay o- contri')tion to+ards a recognised provident -)nd or
an approved s)perann)ation -)nd s)'1ect to s)c( limits as may 'e prescri'ed and s)'1ect to s)c( conditions
as t(e oard may t(in* -it to speci-y in cases +(ere t(e contri')tions are not in t(e nat)re o- ann)al
contri')tions o- -i0ed amo)nts or ann)al contri')tions -i0ed on some de-inite 'asis 'y re-erence to t(e
income c(argea'le )nder t(e (ead “Salaries% or to t(e contri')tions or to t(e n)m'er o- mem'ers o- t(e
-)nd&
Em!%(F'& $("*"*( "(w#+& # P'&*( $'m' '$"*( 36=1>=*#>
ny s)m paid 'y t(e assessee as an employer 'y +ay o- contri')tion to+ards a pension sc(eme as re-erred
to in section DC"", on acco)nt o- an employee to t(e e0tent it does not e0ceed ten per cent o- t(e salary o-
t(e employee in t(e previo)s year&
USalaryU incl)des dearness allo+ance i- t(e terms o- employment so provide ')t e0cl)des all ot(er
allo+ances and per=)isites&
8/9/2019 Business Profession Salary
59/387
Income $nder T(e ;ead )siness/.ro-ession 5H
Em!%(F'& $("*"*( "(w#+& #!!('+ G#"*"F + '$"*( 36=1>=>
ny s)m paid 'y t(e assessee as an employer 'y +ay o- contri')tion to+ards an approved grat)ity -)nd
created 'y (im -or t(e e0cl)sive 'ene-it o- (is employees )nder an irrevoca'le tr)st&
'&"*( 29: E,!%#* +'+$"**%*"F ( 'm!%(F''& $("*"*( '$'*'+ F "' 'm!%(F'.
A&w':
Em!%(F''& $("*"*( '$'*'+ F "' 'm!%(F'
A& !' &'$"*( 36=1>=#> I- t(e employer (as received contri')tion -rom t(e employee to+ards provident
-)nd or S)perann)ation >)nd or #mployees State Ins)rance or to+ards any ot(er +el-are sc(eme o-
employees it +ill 'e considered to 'e income o- t(e employer )nder t(e (ead ')siness/pro-ession ')t i- t(e
employer (as credited t(e amo)nt to t(e relevant acco)nt +it(in t(e time allo+ed in t(e relevant ct
employer can de'it t(e amo)nt to t(e pro-it and loss acco)nt ot(er+ise e0pendit)re is disallo+ed&
A& !' !##g#! 38 ( T' Em!%(F''& P(*+'" +& $'m' 19J2 "' 'm!%(F' &(%+ !#F
w*"* 1J +#F& ( "' &&''" m(" #+ #%&( J +#F& g#$' !'*(+ *& #%%(w'+ *.'. !#Fm'" $# '
m#+' !"( 20" ( "' &&''" m(".
A& !' &'$"*( 31 ( Em!%(F''&S "#"' I&#$' =G''#%> 'g%#"*(& 19J0 EI $("*"*( &(%+
' +'!(&*"'+ m#,*mm !"( 21&" ( &&''" m(".
'&"*( 30: E,!%#* "' +'+$"**%*"F ( ',!'+*"' *$'+ * $('$"*( w*" !$#&' (
#*m#%&.
A&w':
E,!'+*"' *$'+ * $('$"*( w*" !$#&' ( #*m#%&
A& !' &'$"*( 36=1>=*> In respect o- animals +(ic( (ave 'een )sed -or t(e p)rposes o- t(e ')siness or
pro-ession ot(er+ise t(an as stoc*LinLtrade and (ave died or 'ecome permanently )seless -or s)c( p)rposes
t(e di--erence 'et+een t(e act)al cost to t(e assessee o- t(e animals and t(e amo)nt i- any realised in
respect o- t(e carcasses or animals&
'&"*( 31 @Im!.: =**>
I- any assessee (as +ritten o-- 'ad de'ts as irrecovera'le in t(e 'oo*s o- acco)nts (e +ill 'e allo+ed to
de'it s)c( 'ad de'ts to t(e pro-it and loss acco)nt&
I- any assessee +as allo+ed provision -or 'ad de'ts )nder section 36Fviia 'ad de'ts s(all 'e -irst de'ited
to t(e provision -or 'ad de'ts and only a-ter t(at 'alance amo)nt s(all 'e de'ited to t(e pro-it and loss
acco)nt&
Example
I- a partic)lar 'an* (as provision -or 'ad de'ts ` 2C la*(s and act)al 'ad de'ts are ` 2F la*(s in t(is case
only ` F la*( can 'e de'ited to t(e pro-it and loss acco)nt as 'ad de't&
I- any amo)nt +as de'ited as 'ad de'ts +it( regard to partic)lar de't and s)'se=)ently some amo)nt +as
received in -inal settlement o- t(e de't in t(is case any de-iciency s(all 'e allo+ed as 'ad de't and any
e0cess s(all 'e considered to 'e deemed income )nder section 4F4&
Example
Mr& (as sold goods on credit amo)nting to `3CCCCC and (as de'ited `5CCCC as 'ad de'ts s)'se=)ently
')t in -inal settlement (e (as received `2FCCCC in t(is case de-iciency o- `4CCCC s(all 'e allo+ed as 'ad
de't and i- amo)nt received is `26CCCC e0cess o- `FCCCC s(all 'e considered to 'e income )nder section
4F4&
'&"*( 32:
8/9/2019 Business Profession Salary
60/387
Income $nder T(e ;ead )siness/.ro-ession 6C
A&w':
P(*&*( ( #+ D'"& '$"*( 36=1>=**#>
In general any provision -or 'ad de'ts is not allo+ed (o+ever provision is allo+ed to t(e limited e0tent in
t(e -ollo+ing casesK
1. P(*&*( * $#&' ( &$'+%'+ #k *$(!(#"'+ * I+*#.
.rovision s(all 'e allo+ed -or 'ad de'ts in case o- a sc(ed)led 'an* not 'eing a 'an* incorporated )nder t(e
la+s o- a co)ntry o)tside India or a nonLsc(ed)led 'an* an amo)nt (" ',$''+*g &'' #+ (')#% !'
$'" o- t(e total income comp)ted 'e-ore ma*ing any ded)ction )nder t(is cla)se and "(apter VI and an
amo)nt (" ',$''+*g "' !' $'" ( "' #gg'g#"' #'#g' #+#$'& made 'y t(e r)ral 'ranc(es o- s)c(
'an*&
2. ('*g #k&
.rovision is allo+ed in case o- a 'an* 'eing a 'an* incorporated )nder t(e la+s o- a co)ntry o)tside India
an amo)nt (" ',$''+*g *' !' $'" ( "' "("#% *$(m' comp)ted 'e-ore ma*ing any ded)ction )nder
t(is cla)se and "(apter VI&
3. P%*$ *#$*#% *&"*""*(& '"$.
.rovision is allo+ed in case o- a !%*$ *#$*#% *&"*""*( or a "#"' *#$*#% $(!(#"*( or a "#"'
*+&"*#% *'&"m'" $(!(#"*( an amo)nt (" ',$''+*g *' !' $'" ( "' "("#% *$(m' comp)ted
'e-ore ma*ing any ded)ction )nder t(is cla)se and "(apter VILK
'&"*( 33 @Im!.:
8/9/2019 Business Profession Salary
61/387
Income $nder T(e ;ead )siness/.ro-ession 6F
C(+*"*(& ( $%#*m*g +'+$"*( +' &'$"*( 37=1>
A& !' &'$"*( 37=1> any e0pendit)re not 'eing e0pendit)re o- t(e nat)re descri'ed in sections 3C to 36
and not 'eing in t(e nat)re o- capital e0pendit)re or personal e0penses o- t(e assessee laid o)t or e0pended
+(olly and e0cl)sively -or t(e p)rposes o- t(e ')siness or pro-ession s(all 'e allo+ed in comp)ting t(e
income c(argea'le )nder t(e (ead “.ro-its and gains o- ')siness or pro-ession%&
I- any e0pendit)re (as 'een inc)rred 'y an assessee -or any p)rpose +(ic( is an o--ence or +(ic( is
pro(i'ited 'y la+ s(all not 'e deemed to (ave 'een inc)rred -or t(e p)rpose o- ')siness or pro-ession and
no ded)ction or allo+ance s(all 'e made in respect o- s)c( e0pendit)re& i&e& e0pendit)re can 'e claimed as
ded)ction )nder section 3 #' #& g*' '%(w:
F& #0pendit)re in connection +it( advertisement
Example
" :td& (as inc)rred `2CCCC on printing o- diaries and calendars t(e e0pendit)re is allo+ed )nder section 3
8/9/2019 Business Profession Salary
62/387
Income $nder T(e ;ead )siness/.ro-ession 62
FF& ,amages paid to a +or*er in connection +it( (is termination -rom t(e 1o'&
F2& ,amages -or -ail)re to complete a contract in time&
F3& .ro-essional ta0 paid 'y a person carrying on ')siness or pro-ession&
F4& I- t(ere are e0pendit)res li*e t(e e0pendit)re on t(e -iling o- ret)rn o- income -iling o- appeal payment
o- salary to t(e e0pert sta-- -or (andling income ta0 or +ealt( ta0 matters or t(ere is any a)dit -ee
e0pendit)re is allo+ed&
F5& #0penses on registration o- trade mar*s&
F6& .ayment o- grat)ity to an employee +(o died a'road +(ile on ')siness to)r CIT #,m* C'm'"
D*&"*"(& =P> "+. =1976> 104 IT 711 =G.>
Fees to an arc(itect -or val)ation o- ')ilding CIT A&*#"*$ O,Fg' #+ A$'"F%'' C(. "+. =1981>132 IT J06 =C#%>.
FD& :egal c(arges in connection +it( amendment to rticles o- ssociation&
FH& Replacement o- +orn o)t parts o- mac(ineries CIT . D##g# g# C(. "+. =19J6> 29 IT 21
=P#".>
2C& Interest on overdra-t )tilised -or payment o- dividend CIT . * C#g'+'( g# M*%%& "+. =1983>
143 IT 469 =(m>.
2F& "ontri')tion to 9overnment -or constr)ction o- (ealt( centre CIT . ! *$' M*%%& =1976> 104IT 249 =O*>.
22& .ayment made to s)ggest improved met(od o- prod)ction CIT . A%m*m C(!(#"*( ( I+*#
"+. =1973> 92 IT J63 =C#%>.
23& Retrenc(ment compensation and notice pay at t(e time o- clos)re o- one o- t(e )nits o- t(e ')siness
#&&(( . D#*+ ? C(. =P> "+. . CIT =1979> 118 IT 261 =C>.
24& #0pendit)re on iss)e o- 'on)s s(ares is reven)e e0pendit)re and is accordingly allo+ed to 'e de'ited to
pro-it and loss acco)nt as decided in CIT . G''#% I&#$' C(!(#"*( =2006> 1J6 T#,m# 96 =C>.
T(e co)rt (eld t(at iss)ance o- 'on)s s(ares does not res)lt in in-lo+ o- -res( -)nds rat(er it is merely areallocation o- companys -)nds (ence it cannot 'e said t(at company (as ac=)ired a 'ene-it or advantage o-
end)ring nat)re& T(e e0pendit)re is reven)e in nat)re&
25& ny ot(er e0pendit)re +(ic( is reven)e in nat)re and it is related to ')siness or pro-ession&
T' (%%(w*g ',!'+*"' &#%% (" ' #%%(w'+ +' &'$"*( 37=1>.
F& .ayment o- income ta0 in -oreign co)ntries
2& "ost o- erecting t(e stat)e o- t(e -o)nderLc(airman # m'%"*g ? '**g C(!(#"*( =P> "+. .
CIT =1979> 116 IT 766 =A%%>.
3& ny -ine or penalty -or violating t(e provisions o- la+&
8/9/2019 Business Profession Salary
63/387
Income $nder T(e ;ead )siness/.ro-ession 63
4& Interest on late payment o- income ta0&
'&"*( 36: ees -or Tec(nical Services 22LCFL2CF3 3FLCFL2CF3 !ot
,eposited
!ot llo+ed
8/9/2019 Business Profession Salary
64/387
Income $nder T(e ;ead )siness/.ro-ession 64
2& Interest on loan 3FLCFL2CF3 FCLC2L2CF3 2HLC3L2CF3 2CF2LF3
3& Rent 3FLC3L2CF3 3FLC3L2CF3 CFLC5L2CF3 2CF3LF4
4& Interest 3FLC3L2CF3 3FLC3L2CF3 F5LC4L2CF3 2CF2LF3
5& :egal >ee FCLC3L2CF3 2CLC3L2CF3 FCLC4L2CF3 2CF2LF3
6& )dit >ee FDLFFL2CF2 FDLFFL2CF2 C
In case o- payment o- interest commission 'ro*erage rent royalty pro-essional -ees tec(nical -ees
payment to a contractor and t(e payment is 'eing made to a resident and ta0 (as to 'e ded)cted at so)rce as
per provisions o- Income Ta0 ct and t(e person ma*ing payment (as ded)cted ta0 at so)rce t(e
e0pendit)re s(all 'e allo+ed i- ta0 (as 'een paid to t(e government on or 'e-ore t(e d)e date o- -iling o-
ret)rn o- income speci-ied in s)'Lsection F o- section F3H and in s)c( cases amo)nt s(all 'e allo+ed to 'e
de'ited in t(e relevant previo)s year&
(ere an assessee -ails to ded)ct t(e +(ole or any part o- t(e ta0 in accordance +it( t(e provisions o-
"(apter VIIL on any s)c( s)m ')t is not deemed to 'e an assessee in de-a)lt )nder section 2CF t(en it
s(all 'e deemed t(at t(e assessee (as ded)cted and paid t(e ta0 on s)c( s)m on t(e date o- -)rnis(ing o-
ret)rn o- income&
I- in respect o- any s)c( s)m ta0 (as 'een ded)cted in any s)'se=)ent year or (as 'een ded)cted d)ring t(e
previo)s year ')t paid a-ter t(e d)e date speci-ied in s)'Lsection F o- section F3H s)c( s)m s(all 'e
allo+ed as a ded)ction in comp)ting t(e income o- t(e previo)s year in +(ic( s)c( ta0 (as 'een paid&
Example
D'"'m*' "' F'# * w*$ +'+$"*( &#%% ' #%%(w'+ * "' (%%(w*g $#&'& * "' #&&'&&'' *& #$(m!#F.
.
N(.
N#"' (
E,!'+*"'
D#"' (
!#Fm'"
D#"' ( w*$
"#, w#&
+'+$"'+ #"
&($'
A$"#% +#"' (
+'!(&*"
=***>
8/9/2019 Business Profession Salary
65/387
Income $nder T(e ;ead )siness/.ro-ession 65
I- t(ere is any payment +(ic( is c(argea'le )nder t(e (ead “Salaries% and it is paya'le ("&*+' I+*# or "( #
()'&*+'" and t(e ta0 (as not 'een paid t(ereon nor ded)cted t(e e0pendit)re is not allo+ed& #&g& "
:td& (as paid salary o)tside India on 3F&CF&2CF3 +it(o)t ded)cting ta0 at so)rce and also ta0 (as not 'een
deposited +it( t(e 9overnment in t(is case e0pendit)re is not allo+ed&
'&"*( 40 @. Im!.: E,!%#* +'+$"**%*"F ( I$(m' T#, (
8/9/2019 Business Profession Salary
66/387
Income $nder T(e ;ead )siness/.ro-ession 66
2& I- t(e assessee is a company -irm association o- persons or ;ind) $ndivided >amily any director o- t(e
company partner o- t(e -irm or mem'er o- t(e association or -amily or any relative o- s)c( director partner
or mem'er&
3& ny individ)al +(o (as a s)'stantial interest in t(e ')siness or pro-ession o- t(e assessee or any relative
o- s)c( individ)al&
4& company -irm association o- persons or ;ind) $ndivided >amily (aving a s)'stantial interest in t(e
')siness or pro-ession o- t(e assessee or any director partner or mem'er o- s)c( company -irm association
or -amily or any relative o- s)c( director partner or mem'er or any ot(er company carrying on ')siness or
pro-ession in +(ic( t(e -irst mentioned company (as s)'stantial interest&
5& company -irm association o- persons or ;ind) $ndivided >amily o- +(ic( a director partner or
mem'er as t(e case may 'e (as s)'stantial interest in t(e ')siness or pro-ession o- t(e assessee or any
director partner or mem'er o- s)c( company -irm association or -amily or any relative o- s)c( director
partner or mem'er&
6& ny ot(er person covered )nder section 4C2&
'&"*( 42 @. Im!.. D*&$&& !(*&*(& '%#"*g "( $#& !#Fm'"& * ',$'&& ( %*m*" !'&$*'+ +'
&'$"*( 40A=3> %' 6DD.
A&w':
C#& !#Fm'" * ',$'&& ( `20000 '$"*( 40A=3> %' 6DDI- an assessee (as inc)rred any reven)e e0pendit)re and t(e payment or t(e aggregate o- t(e payments made
to a person +it( regard to s)c( e0pendit)re on any single day ',$''+& `20000 and payment +as madeot(er+ise t(an "(g #$$(" !#F'' $'' ( #$$(" !#F'' #k +#" in s)c( cases entire
e0pendit)re is disallo+ed&
I $#&' ( !#Fm'" m#+' ( !%F*g **g ( %'#&*g g((+& $#*#g'& "' $'*%*g ( "w'"F "(+
!''& &#%% ' '#$'+ "( "*"F)*' "(+ !''&.
Example
Mr& (as inc)rred an e0pendit)re o- ` 45CCC& Mr& ma*es separate payments o- ` F5CCC ` FDCCC and `
F2CCC all 'y cas( to t(e person concerned in a single day& T(e aggregate amo)nt o- payment made to a
person in a day in t(is case is ` 45CCC& Since t(e aggregate payment 'y cas( e0ceeds ` 2CCCC `45CCC
+ill not 'e allo+ed as a ded)ction in comp)ting t(e total income o- Mr& &
Example
F& Mr& p)rc(ases goods +ort( `
8/9/2019 Business Profession Salary
67/387
8/9/2019 Business Profession Salary
68/387
Income $nder T(e ;ead )siness/.ro-ession 6D
ii a mail or telegrap(ic trans-er t(ro)g( a 'an*
iii a 'oo* ad1)stment -rom any acco)nt in a 'an* to any ot(er acco)nt in t(at or any ot(er
'an*
iv a 'ill o- e0c(ange made paya'le only to a 'an*
v t(e )se o- electronic clearing system t(ro)g( a 'an* acco)nt
vi a credit card vii a de'it card&
H& (ere t(e payment is made 'y an assessee 'y +ay o- salary to (is employee a-ter ded)cting t(e incomeL
ta0 -rom salary in accordance +it( t(e provisions o- section FH2 o- t(e ct and +(en s)c( employeeW
a is temporarily posted -or a contin)o)s period o- -i-teen days or more in a place ot(er t(an (is
normal place o- d)ty or on a s(ip and
' does not maintain any acco)nt in any 'an* at s)c( place or s(ip&
FC& ny ot(er sit)ation given )nder R)le 6,,&
I%%&"#"*( 13: Mr& (as started a ')siness +&e&- CF&C4&2CF2 and (as s)'mitted in-ormations as given
'elo+K
F& .)rc(ased goods in pril 2CF2 -or `5CCCCC pl)s ,el(i VT X F2&5G
2& .)rc(ased goods in May 2CF2 -or `3CCCCC pl)s ,el(i VT X F2&5G
3& Sold all t(e goods )pto 3Fst May 2CF2 -or `FCCCCCC
;e (as ta*en registration )nder ,el(i VT +&e&- CF&C6&2CF2 and (as opted -or composition sc(eme and
p)rc(ased/sold goods as given 'elo+K
F& .)rc(ased goods -rom CF&C6&2CF2 to 3F&F2&2CF2 -or `3CCCCCC pl)s ,el(i VT X F2&5G
2& Sold all s)c( goods )pto 3F&F2&2CF2 -or `4CCCCCC
Rate o- composition ta0 is FG&
Since (is t)rnover )pto 3F&F2&2CF2 is `5CCCCCC (e (as s(i-ted to t(e normal system and (is p)rc(ases
-rom CF&CF&2CF3 )pto 3F&C3&2CF3 is `2CCCCCC pl)s ,el(i VT X F2&5G and t(e goods +ere sold -or
`3CCCCCC pl)s ,el(i VT X F2&5G&
Ot(er e0penses inc)rred are `4CCCCC +(ic( incl)des rent o- o+n ')ilding `F2CCCC and premi)m -or
MediLclaim policy `FCCCC paid 'y c(e=)e and p)rc(ase o- one motor car L !!O -or `F5CCCC -or
')siness )se& It +as p)rc(ased and p)t to )se on CF&CF&2CF3& 3CG )se +as -or personal p)rpose&
.)rc(