Assessment Year: 2013-14

1
2
3

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%

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under Chargeable at Special Rates @ 20%

-

4

Income from Other Sources (Detail attached)

5
6

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

7

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

8

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

9

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

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(b) TDS

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(c) TCS

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(d) Self Assessment Tax

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(e) Total Taxes Paid

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

Category: Domestic Company - - - ome - - - .

if any Amount of deduction u/s 35 in excess of the amount debited Profit & Loss A/c Any other amount allowable as deduction. No. 40A(2). Profit /Loss from Specified Business u/s 35AD included in Point No: 1 (-ve in case of Loss). 1956 (if consider this into P&L A/c. 1 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) 2 A. 37. Income from House Property Property used 1 2 3 4 5 Sl. No. to the extent Disallowable u/s 36. 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 Deemed Income. if any Amount of deduction u/s 35 AC in excess amount allowable as deduction. - . in any preceding previous year but allowable during the previous year. which is exempt. 40. if any 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 - Expenses debited to Profit & Loss A/c which relates to Exempt Income. if any . if any - 3 Interest/ Receipts credited Profit & Loss A/c consider under other Heads of Income. - 22 23 Income (11+16-21) 24 Net Profit & Loss from Business or Profession other than Specified & Speculative Business 25 26 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. 1). 1 - 4 Interest/ Receipts credited to Profit & Loss A/c (include in No. 10AA. Profit or Loss after adjustment for Depreciation (8+9-10) - Amount debited to P&L A/c. 1961.Sl. if any - B. 40A(3) & 43B (if any) Interest Disallowable u/s 23 of MSMED. if any. 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. Profit /Loss from Speculative business included in Point No: 1 (-ve in case of Loss). if any Adjusted Profit or Loss (5+6+7) - Depreciation as per Companies Act. include in Point No. Depreciation u/s 32 as per Income Tax Act. 10B & 10BA.

27 28 29 30 31 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) - 32 Deduction in accordance with u/s 35AD - 32 Profit or Loss from Specified Business 33 Income under the head of Business or Profession (24+28+32) - .

However. 1 2 3 MAT Provision from last years Tax under Normal Provisions for last year Credit brought forward from earlier year (Points: 1-2) - . if any Others. Rental Income (from Plant. Buildings etc) & Others Income (b) Deduction under section 57 (Expenses & Depreciation) Winning from Crossword puzzle. lotteries. hence to be deducted now) Profit on Sale of Fixed Assets.) Sl. if any - Depreciation. No. since not specifically mentioned under the deductible items of Section 115JB. races etc.Sl. if any Provision for Diminuition in Value of Asset. Interest. if any (including relating to Revalued Amount) Deferred Tax. 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 within this is exempt u/s 10.) Sl. then deductible to that extent) Agricultural Income [Exempt under Section 10(1)]. if any - - - Amount of Book Profit: Calculation of MAT Credit Carry Forward (if any) Amount (Rs. 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)] 6 Income under the head of Other Sources (3+5) 1 2 3 4 - - Calculation of Book Profit Amount (Rs. if any Less:7 8 9 10 11 12 - Bad Debt Reserve. if any (assumed not allowed while calculating Book Profit. No. Income from Other Sources 5 Income other than from owing race horse(s):(a) Dividend. if any Amount withdrawn from Revaluation Reserve. No. if any (not eligible for deduction. Balance in Profit and Loss Account (Profit after Tax) Add:1 2 3 4 5 6 Income Tax: Current Tax (including Education Cess and Interest Paid) Provision for Deferred Tax & Deferred Liability Agricultural Expenses.

4 5 6 7 8 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 - .

Surcharge @5% (if Book profit exceeds 1 Crore) Add:.Calculation of Minimum Alternate Tax: Sl.50% on Book Profit 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% .No. Amount Tax @ 18.

Amount (`) Self-occupied - - - Amount (`) - - - - - - .

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Amount (`) - - - Amount (Rs.) - .) - - - ) Amount (Rs.

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