Assessment Year: 2013-14

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Category: Domestic

Income from House Property (Detail attached)

Income from Business or Profession (Detail attached)
Income from Capital Gains
under Normal Rates

under Chargeable at Special Rates @ 15%

under Chargeable at Special Rates @ 20%

Income from Other Sources (Detail attached)

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Total (1+2+3+4)
Losses of current year to be set off against Total i.e. point no: 5

Balance after set off curent year loss (Point No: 5-6)

Brought forward Losses of earlier previous year to be set off againt point no: 7

Gross Total Income (GTI) (Point no: 7-8)

10 Deduction under chapter VIA (from u/s 80C to 80U)

11 Total Income (9-10)

Computation of Tax Liability on Total Income

12 Tax Payable under MAT u/s 115JB (including Surcharge & Cess)
13 Tax Payable on Total Income
(a) Tax Payable under Normal Rate
(b) Tax Payable under Special Rates
14 Surcharge @5% on Point No: 13
15 Cess & Higher Secondary Cess @ 3% on point no: (13+14)
16 Total Tax Payable on Total Income under Normal Provision
17 Gross Tax Liability (Higher between point no: 12 & 16)
18 MAT Credit u/s 115JAA
19 Tax payable after credit u/s 115JAA (Point No: 17-18)
20 Tax Relief u/s 90/90A/91, if any
21 Net Tax Liability (Point No: 19-20)
22 Interest u/s 234A/ 234B/ 234C (if any)
23 Aggregate Liability (Rounded off u/s 288A) (Point No: 21+22)
24 Taxes Paid
(a) Advance Tax

(b) TDS

(c) TCS

(d) Self Assessment Tax

(e) Total Taxes Paid

25 Amount of Tax Payable/ (Refund) [Point No: 23 - 24(e)]

Category: Domestic Company

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Income from House Property

Property used

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Gross Annual Value

Tax paid to Local Authorities
Net Annual Value (1-2)
Deduction u/s 24:
(i) Standard Deduction @ 30% u/s 24 (a)

(ii) Interest on borrowing u/s 24 (b)

Income under the head of House Property (3-4i-4ii)

Income from Business or Profession

Profit Before Tax as per Profit & Loss Account (PBT)

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A. Profit /Loss from Speculative business included in Point No: 1 (-ve in case of Loss), if any

B. Profit /Loss from Specified Business u/s 35AD included in Point No: 1 (-ve in case of Loss), if
any

Interest/ Receipts credited Profit & Loss A/c consider under other Heads of Income, include in
Point No. 1

Interest/ Receipts credited to Profit & Loss A/c (include in No. 1), which is exempt, if any:
(A) Share of Income of firm(s)
(B) Share of Income of AOP/BOI
(C) Any Other exempt Income
(D) Total Exempt Amount (4A+4B+4C)
Balance (1-2A-2B-3-4D)
Expenses debited to Profit & Loss A/c considered under other heads of Income, if any

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Expenses debited to Profit & Loss A/c which relates to Exempt Income, if any
Adjusted Profit or Loss (5+6+7)

Depreciation as per Companies Act, 1956 (if consider this into P&L A/c.
Depreciation u/s 32 as per Income Tax Act, 1961.
Profit or Loss after adjustment for Depreciation (8+9-10)

Amount debited to P&L A/c, to the extent Disallowable u/s 36, 37, 40, 40A(2), 40A(3) & 43B (if
any)
Interest Disallowable u/s 23 of MSMED, if any
Deemed Income, if any

Any other income not included in P&L A/c or any other expenses not allowable (-ve for other
expenses)
Total (12+13+14+15)

Amount of deduction u/s 40 & 43B, in any preceding previous year but allowable during the
previous year, if any
Amount of deduction u/s 35 in excess of the amount debited Profit & Loss A/c
Any other amount allowable as deduction, if any
Amount of deduction u/s 35 AC in excess amount allowable as deduction, if any
.

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Income (11+16-21)

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Net Profit & Loss from Business or Profession other than Specified & Speculative Business

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Net Profit or Loss from Speculative Business as per P&L A/c

Additions in accordance with Section 28 to 44DA

Deduction under section 10A, 10AA, 10B & 10BA, if any.

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Deductions in accordance with Section 28 to 44DA

Profit or Loss from Speculative Business
Net Profit or Loss from Specified Business as per P&L A/c
Additions in accordance with Section 28 to 44DA
Deductions in accordance with Section 28 to 44DA (other than deduction u/s 35AD)

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Deduction in accordance with u/s 35AD

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Profit or Loss from Specified Business

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Income under the head of Business or Profession (24+28+32)

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Income from Other Sources

Income other than from owing race horse(s):(a) Dividend, Interest, Rental Income (from Plant, Buildings etc) & Others Income
(b) Deduction under section 57 (Expenses & Depreciation)
Winning from Crossword puzzle, lotteries, races etc.
Income from Other Sources (other than from owing race horses) {[1(a)-1(b)]+2}
Income from owing & maintaining race horse(s):(a) Receipts
(b) Deduction under section 57 in relation to (4)
Income from owing & maintaining race horses [4(a)-4(b)]

Income under the head of Other Sources (3+5)

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Calculation of Book Profit

Amount (Rs.)

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Balance in Profit and Loss Account (Profit after Tax)

Add:1

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Income Tax:
Current Tax (including Education Cess and Interest Paid)
Provision for Deferred Tax & Deferred Liability
Agricultural Expenses, if any

Depreciation, if any (including relating to Revalued Amount)

Deferred Tax, if any
Provision for Diminuition in Value of Asset, if any
Others, if any

Less:7
8

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Bad Debt Reserve, if any (assumed not allowed while calculating Book Profit,
hence to be deducted now)
Profit on Sale of Fixed Assets, if any
(not eligible for deduction, since not specifically mentioned under the deductible
items of Section 115JB. However, if any amount within this is exempt u/s 10, then
deductible to that extent)
Agricultural Income [Exempt under Section 10(1)], if any
Amount withdrawn from Revaluation Reserve, if any
(to the extent of Depreciation Charged on Revalued Amount)
Lower of Following (if any):
(a) Book Business Loss (earlier previous year)
(b) Book Book Unabsorbed Depreciation (earlier previous year)
Others, if any

Amount of Book Profit:

Calculation of MAT Credit Carry Forward (if any)

Amount (Rs.)

Sl. No.

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MAT Provision from last years

Tax under Normal Provisions for last year
Credit brought forward from earlier year (Points: 1-2)

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Tax Liability before considering MAT Credit

Tax Computed under section 115JB

Amount eligible for availing MAT Credit (Points: 4-5)

MAT Credit availed lower of (3) and (6)
MAT Credit carried forward to be next year

Calculation of Minimum Alternate Tax:

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Amount
Tax @ 18.50% on Book Profit
Add:- Surcharge @5% (if Book profit exceeds 1 Crore)
Add:- Education & Higher Secondary Cess @ 3%

Minimum Alternate Tax Liability:

Tax at Special Rate

Capital Gain under Special Rate @ 15%
Capital Gain under Special Rate @ 20%

Rate
15%
20%

Amount (`)
Self-occupied

Amount (`)
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Amount (`)

Amount (Rs.)
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Amount (Rs.)