Hi friend,I have tried many question but have some doubt in following point. plz see and comment.
What is treatment of these following items in calculation of income under head income from profit and gains of business and profession
(i)If it is given P&L eg in DR side of P&L that sales tax paid in the year is Rs 38,000.And in additional information it is given that sales tax of 38,000 include interest for late payment of Rs1200 and penalty for for evading the sales tax is Rs10,000. so what is treatment of it in calculation of computing income under head profit and gain of business and profession.
(ii)If it is given in additional information to p&L a/c that assesse has purchased a plant of Rs 30,000 for the purpose of carrying on scientific research relating to his business. Neither cost nor depreciation is debited to P&L a/c. what is the treatment of it in computing income under head PGBP.
(iii)IF in P&L a/c it given on Debit side that preliminary exp Rs 6000 and also expenditure incurred in family panning is Rs 6000(out of which Rs 4000 is capital expenditure)
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