Deductions in computing profits and gains from pgbp read mo

deepak kumar srivastava (na) (281 Points)

07 March 2016  

CASE STUDY Mr. A purchases Material X for Rs. 100000 (Credit purchase) on 01.11.2013 from Mr. DEEP.

Case 1 Mr A pays 18000 in cash on 5/12/2013 and 40000 by a/c payee cheque on 5/12/2013 .Rest of the payment is made on on 5/5/2014 through a/c payee dd. What shall be amount of deduction in computing profits and gains FOR A.Y 2014-15 AND 2015-2016.

Case 2 Mr A pays 18000 in A/C payee dd on 5/12/2013 and 40000 by a/c payee cheque on 5/1/2014 .A cash payment of Rs 21000 is made on 5/4/2014 and Rest of the payment is made on on 5/5/2014 through a/c payee dd. What shall be amount of deduction in computing profits and gains FOR A.Y 2014-15 AND 2015-2016 

 

PLEASE ANSWER WITH PROPER REASONING