, invert a ven Ranjeet Kee Chaptor: 2 Profit and Gaime trom eo) Business or Pratessiom Aeolus |_________ Computation sheet of ‘PGBP" ——_|_Deduction for expenses in relation to Buildin (8-—_|_ Deduction for expenses in relation to Plant, Machine and furnitere WDV for Other assessee ud Deduction for Additional Depreciation for Manufacturing concern 3) c ae Depreciation by SLM for Electricity Compan) yi) 1 ee | ____ Depreciation by Su? ew a Deduction for Terminal Depreciation (under SLM) 5200 Deduction for unabsorbed depreciation 32(2) C 7 Special Deduction for Tea Growing and Manufacturing Concern 33 ah Deduction for Site Restoration Fund Extra deduction for Investment in new plant or machinery. i =e Deduction for acquisition of Tele communication license 32 —__|_____ Deduction in respect of eligible project__| Cs |____Deduction in respect of expenditure on specified business __1 Cn Deduction in respect of donation to ‘ROP’ or NUEF’_ 35ccC |___Deduction for Expenditure on agricultural extension project. __| 350 Deduction for preliminary expenditure aaoo Deduction for expenses on Amalgamation and demerger | 350A Deduction for payment on VRS to employee 3600) (Other (Revenue) deduction 3701) General deduction 37(28) | Disallowance of payment to political party | 38 Disallowance of expense on assets not wholly for business | 40(a) Certain Expenditure disallowed | 40(b) Remuneration and Interest allowed to Partner from Firm | 40A(2) Disallowance of payment made to related party | ‘Suyogya 1OCM (P) Ltd.011-65671008 100 ocarimieu wit ValiSCeSEC 28 __Shargeabitity ~~ (ete siness incomes shall be chargeable 10 lax under the head “Profit & Gains from BU 2 previou! ie aan gas 207 nest rtaslon card on by Whe aesssee sat eR be oh be he ye hs ve al io is ome of any Ni oF professional association from fspecific. services 1pe ee tal "3 af wou yuan hreojeee ” ee oe i a ocd te dam ee rh taal, e684 inoontives: yo x» Laue aw if beet fasten J 2 ale Stimport entitlements Hieense or EXIM seri off exper H Yo prof on 5 oot eg eel AM er. Sis foe] eAp = a assistance [CCShan" 1" 4. On cae of, Jute uty drawback (i racrenad saben) given wn export @ (eh ona value of any benelit ‘BF Reuse arising from any business or profession 64. g We ent a giver by ye to dodess Any interest, salary, bonus, commission or remuneration feceivedidue to a partner from 9 batnership Firm .d under an agreement for apy sum receiver 9 eal as not carrying out any activity in relation to any business or st sharing any Know-how, patent, copyright, trade-mark, license, franchise oF any other exast ‘or commercial right of similar nature or information or technique likely 10 assist in the manufacture or processing of goods or provision for services. “ote: Where above receipts are chargeable fo tax under the head “Capital Gain” would pot be taxable as profits and gains of business ar profession. wt fre asides dus acces Has Guvtel germ av ‘Any sum receives under Key man insurance policy am ef Shae end ol wt winning fo lhe 9/ Pros and ging erived from any spe ‘butiness are also chargeable to tax under the head 'PGBP" eee eau ne year erty Ue at ned §) Where the cost of ay asset is sie as Oe uls 35AD, any sum receivable, in cash or kind, on account of transferred or destruction of such caytal asset taxable as Income from PGBP. yar Busine Suyogya TOCa (P) Ltd.011-65671008 a 102 ocarimeu wit UainSceIncome fi from Pe oe FA Ray, | Fi i ‘Reyman Inst fan ompl con the lle O ployee 010 ON “Tiye object of the rey ing a in ‘ syman insurance policy is taken by 3 business HT ingss uocess of Ne busi from the deal of avaluabie 1 the likely Setback services contr senoes cutie subtly the st seals business concer rom the loss of rast oa unt of keyman insurance can be estimated ° the mo i \cem due to the death of the keyman, soseled ‘| sping re 80, by way ] y includ respect of Such Policy. The um Any st anco polo yy sum received under a keymar insure ’ Hey vata taxable, The exemplion under section from such poly wil be taxable 08 Unde ye for employer “pGBP’ “ 10. aS ‘gala 2) Nominee is Employer 2 ible for employe is Employee TX" cmployeo'” Taxable OF rose bb) IE Nomine ) Nominee is ober 00 ilding sp nurance Prem ard any business Premise, icine, 4 7 ‘> Rent Municipal ta Re tenant wil be alowed 35 ‘deduction. lox, evenue repel jas deduction. oinaurance premium regard any business premise incured by 0, 3 Murcia! be alowed plat and furnicure Ter ee, surance of machinery, 4 Pee ‘Repairs aud in > insurance premium ants Expenses of revenue repairs of machine of plant oF furniture, ws, ‘ilowed as deduction u's 31 Bd ver it will be allowed as covered by section 31, howe\ schinery, plant or furniture is > Rent of ma of section 37(1) deduction by virtue i > Revenue Repairs © Allowed as deduction uls 30 ' (eT bo Incurred by Tera : I Incurred by Owner A ! J | st will be added with the. a cece i a be be deemed as Build owed u/s 32/1) owned by Tenant = depreciation will be allowed under Explanation to See 2) ieeeeeaaseamen ce) ‘Suyogya 10CH [P) Ltd.011-65671008 ig 1 carined wiutamSe:‘SEC 32004 7 Depreciation on WDY Meth 1 ple A 7 4or9=——* [Know-how, conyti Copyright, Walemark, franchises, eAnse ete) sone? wholly or partly by the assessee exeloding | ss ss0 forte PUrPOSe of business or profession , "4d bie ciation shall be allowed on WOV 12 os vplock OF Assets” es pace jBOOS, “pesisenial . General / Hotel > Gomera sp Temporary structure | pater ears 18% 7 yotr busestoresiaxies used in the business of running on hie ~~ oon | + Gas oyinders including vaves and regulators 60% | > ca a onus) oon > ships —~ 3 20% > Computers inoluding-computer software De0% - 1 Abronlones pee fe J siepotaion control equipment, 1 oe Se dae 5 Witer polation contol equipment, : * Meson medical equipment 440 J 40% > Books owned by professional “> Annual publications goo Ue tthers “20% «Yo! > Sooke onmad by assessee caring on business 2 running lending |__ trates | 100% [Hianatble Assots, /. it 25% 10 Suyogya 1OCM (P) Ltd.O1 7-65671008 SvannmecwittrcamSc: ¢1K 397 ‘ : PA, SEC 32(1) tia), ; Mh ‘Additional Depreciation Ky / Inthe case of any new machinery or plant Zn 7 which has been acquired and installed, \° A @ by an assessee engaged in the business of manufacture or production of any article of e @ in the business of Generation and Distribution of Power, @ a further sum equal to 20% of the actual cost of such machinery or plant shall be ay, deduction u/s 32(1)(i). «> WP nt & shir Note: - Additional depreciation will not be available on the following bn ra vine tol <4 Any P&M the whole of the actual cost of which is alfsned 08.3 deduction (ty | cepreciation or othenwise) in computing income under the head ‘PGBP” Ships and aircraits, Ranct vai P & Mwhich was used by any olher person before ils installation. (Second ) GA Any P&M installed in office premises or residential accommodation (including guest a (YY Any office appliances or road transport vehicles. Ais ludion é wale ‘Section 43(6) Written down value [WDVJ. [ Particulars «Amount @) ‘Opening WDV of the Block of Assets as on 1* day of relevant previous year XXX ‘Add: ACTUAL COST of Asset acquired during the year falling within same block XX Less: MONEY PAYABLE in respect of Asset sold, destroyed, demolished (2& sia) or| (XX) discarded during the relevant previous year along with serap value, if any Closing WDV (saine will be taken as opening WOV Tor next year) i XXX ‘Suyogya 10CM (P) Ltd.011-65671008 Scanned with CamSczHalning |, extent amount of atlon ‘halt never hecome ision for Compy Sectig rovislon| SMPULAtio, ofc ion 50 (jae) asset is an ass, ap He © tt ne capital gain oy part tl Gai "SIN case =O HA on 8 capital asset belongin, Compsitey “i soso Of Depreciable Assets. ee any Oe 8 Under. 8819 In respe, fe 3 jgset exceeds aggregate. oth ieee i bent FeSpect of which depr et woV of the block of assets ay ow ng MOE ALD Slog o tre yal Cost of any Neb Sales Consideration of such Actual Y ASSets fay, Ginn 0 1h of suct \) the of transl ling with; he "Proven yer andi Mas Sport Ferm CaPilal Gains shat yo con 18 acu during the yoar et . led ag gales Gonsideration Under: <) woV of the block of asset; “ peginning of the previous sect the year © ) Actual cost of any asset fallin (KK) | block of assets' acquired aa ‘hatha the’ {o) Cost of Transfer S the yeay oxy | si (KK) | hort termi capita dain (prottoss ) | = any Block of Assets does | xX not exist f erred during the previous year. for the reason that all the assets i in that block are * got Term Capital Gains shall all be ‘com ewe omputed @S under:- sales C Consideration ee Less: ome | (@) WDV of the block of assets at the beginning of the year OX) | | | | (p) Actual Cost of any asset faling within the xxx) | block of assets acquired during the previous year mn | (0) Cost of Transfer 5 XX) | | Short term capital gain (profitloss) XX | x3 In case where section 50 does not apply, the cost of transfer shall be allowed as business expenses under section 37(I). Scanned with CamSczKunvew a roa Ranyeet Ka 1 10° vy of block of commorn) 2013 Is PS. a1 building consisting § twin n 01-04 is a new building is acquirect oy Mo conssting 5 tuitding as on or 2 vt a y Ipany on 05 , . Fe amount Of depreciation, closing WOY one eopytny gains Rate of daprectation 19 10 ute a Particulars Amount (9 opening WV of Block of Buildings a8 on 01-04-5013 Se \ : actual Cost of Buitling acquired ard putt usw 10-09-13 femae : jae Money payable in respect of building destroyed during the year \ 98,109,000 | jess WoV for claiming depreciation tae ere | sreciation allowed for AY 2074-15 \ 1 ‘gas Depreciatis 75 ae —eengwovarmrgee | i Closing WOV of block of Buildings oso0 “| question 17 is Rs. g WOV of block of Plant and Machinery consisting 18 Plants as on Cee ‘Out of eertGo0, A new plant iS Acquired and installed for put to uae on Gy_of 2013 for Rs, 6.09, ee 10.00 Go% is received as subsidy from Sate Govt one of cla plant is destroyed by fire on whit F"4,00,000 is received {rom ic tin | RS. insurance company. Rs. 10,000 is incurred for gett "g stipensation. Compute the amount of depreciation, closing WOV' and capilal gains. come ation 1S 40%. tion is aeprecia answer: I 7 Particulars - [Opening WDV of Block of Plant and Machinery as on 01-04-2073 (Aad: Actual Cost of Plant acquired and pul lo use 07-07-13 (Aad: tress: Money payable in respect of Plant destroyed du ~~~ WDV for claiming depreciation Scanned with CamSczIncome from PGBP STCG under section 50/1) will also be compuled as under Particulars Sales Consideration read with section 45(1A) | Less: Opening WDV of Block of P&M Less: Actual Cost of Plant acquired during the year | Less: Cost of Transfer - Scanned with CamSczwer 10,000 oe Pye © (2) Rs. 5.80,000 Case (3) Rs. 12,50,000 | SEC 35 < c ¢ Penditure on Scientific Resear tf | In-House Research on it 2" Donation/Contribution (Amount paid to Outside Agency) 1d By Assessee Himself [in-House Research} ao 8 yegsearch s not relaled 0 business of aosesce 2 C the expenses Incurred on such research shall not be allowed. ipresearch is relaled lo Business . F Ewenses PRIOR Commencement of Business {within 3 Years only) Capital Expenditure flsANE} i Fully allowed (Or.) in P&L A/c | i___ inthe 1 Yearof Business | Revenue Expenses — Lae (only Raw Material + Salary)>>does not include facility E = Only to the extent certified by Prescribed Authority Scanned with CamSczIncome from PGBP a ee Expenses AFTER Commencement ‘of Bus . wo! Fully allow aor) in P&L Are en Eeparcrure Of "y inno voor ‘which itis incurred | j nite een Revenue Expenses. — (AlLKind of F Expenses) ed to aot ApPIOVa! tion oF contribution <=> None oss of assessee ted to the busin wed as WEIGHTED at DEDUCTION = Research may De re nation shall be allo Ly the amount of Do in respect of Donati! nted Deouction ft { Technology, university, of Specified Person us es A On US 35a f Donation amount nor Contribution wei indian Institute o! => National Laboratory, wed @ 200% oF ‘Ts. eduction shall be allo jon (it must be approve 2d in oO Mf ration, University, College OF other Institul ‘al Government. => Research Associ Gazette by Centr tatistical research Research in social science oF st lowed @ 125% of Donation amount Deduction shall be al & Research in other matter ‘Ls A L Deduction shall be allowed @ 175% of Donation amount on Indian Company (main object should be Research & Development) Deduction shall be allowed @ 125% of Donation amount Scanned wit VariSCewar — pon Qayjeat Kan ExpeAItOTe TCU OH ty House Reseaven a? nantactuing ary aticlo oF things (oxcopt article spocifind in 118 Schedule) in i @ cued] Pc After COB oe 1 aw or elated to Busines: ) e HOUSE RESEARCH INe agqure on Research Activities spol Revenve Nature = Deduction shall be allowed @ 200% Capital Nature LAND = Deduction shall NOT be allowed Building = Not covered u/s 35(2AB), However 100% shall be allowed u/s 35(1) L, other Assels = Deduction shall be allowed @ 200% THE ELEVENTH SCHEDULE UST OF ARTICLES OR THINGS AUST OF ARTICLES OR THINGS ae and other alcoholic spirits ‘and tobacco preparations, such as, cigars and cheroots, cigarettes, biris, smoking mixtures for 18800 ST igarettes, chewing tobacco and snult. aes 20 es and toilet preparations Core, dental cream, tooth powder and soap, «Teal Pi waters inthe manufacture of which blended favouring concentrates in any form are used. 5 anation.—“Blended flavouring concentrates" shall include, and shall bo deemed always fo have epg sytroic essences in any form, "rnecionery and chocofales. + Gemonhones,inluding record-players and gramophone records. 4. isto. 4 Photographic apparatus and goods ‘p office machines and apparatus such as typewriters, . calculating machines, cash registering machines, cheaue wring machines, intercom machines and teleprinters. gett Explanation. The expression “office machines and apparatus" includes all machines and apparatus used in offices, shops, factories, workshops, educational institutions, railway stations, hotels and restaurants for doing office work *®[and for data processing (not being computers within the meaning of section 32AB 11. Stee ucniture, whether made partly or wholly of steel 12. Sales, stong boxes, cash and deed boxes and strong room doors, 13. Lex foam sponge and polyurethane foam, 4 Crown corks, or other fitings of cork, rubber, polyethylene or any other material 'S-Piter-proof caps for packaging or other fittings of cork, rubber, polyethylene or any other material, leu wit VatiSCe94,650,700 (1,509,000) 3,00, 704 S380 Iricurs any ©*penditure on SPECIFIED NR) Corrpowy x encement of his businogs, g, mn om 0 © encement of his business oc corm with setting UP New unit gf ct " connection with exte, Sion of his business or in nee allowed in tespect of prefiny coal be atowed IN respect o Preliminary expendi 8 Under n Q cli?! 4 of following Will be allowed for ®8ch § years lea (re mount Incutfed 0m Spectod Puipese actus oject #7" of Cost of Project or oh of in @ of Company, 5: ic oo (in case pany, % Of higher of Cost Of project Capital Employed ) ject means: ACU Cost OF fed agsarg SAE last day of PY in whieh busine Pr —— are enced d means: Share capital + Debenture: employe nich the business is comi 3 in which ses for Sec. 35D purpose. ee wctfed nu, diture on specified purposes means the following expenctiture incurred on:- gent cue 1 reparation of Feasibiliy report / Project report Conducting Market survey or any other sy vey necessary for the business, Wregistering the co, 'S + Long te i he last day of mencea. 9 term borrowings as on the a a Legal charges for drafting any agreemen a Legal charges of drafting MOAVAOA ; Printing of MOA/AOA - (v) In connection with the issue, for public Subscription of Shares or debenture, underwriting commission (w) Engineenng services relating to the business of the assessee, nts" Thy winele in Scanned with CamSczIncome from PGi a —— = C60) Deduction Th r he following deductions shall bo allowed u/s 26 3 stock; ect of insurance of,aamnade. ofs (Lath. s ts (i) Any premium paid in resp or payment othor than cash byy Gi) Any insurance premium paid by any mode onthe health of employees; Note 12 In oe f 5 4 on the life or health of parins is ee the Nand opp + Insurance paid 0" “afl . is a personal expendi efor BUG fae" ” 7 Note 2: Insurance premium paid undor the KEYMAN INSURANCE POLICY wi», - feet 3B a yoo as bonus oreomiesio deers Any sum paid to an empl) (loan) for the purposes of in respect of capital borrowe ur - toot Inkl Ged sudeemed ot pov Cd ey "od, will be deductible on pro rata basis. jaretor Suront, “ on ‘Zero Coupon Bond! nto RPF or approved Supe! ratuity Fund. dee 43 (x) will be allowed as deduction only i¢ in relevant fund on oF before the bs) ate (v)_ Discount rannuation Fund. dee u3a (vi) Employer's contributio (vii) Employer's contribution to approved Gt (viiiJAny sum received by the assessee uls 2(24) ‘amount ig oredited to the employee account! prescribed under such fund. Employee's contribution to Provident Fund, Superannuation fund and other fund fo, the welfare of Employees. ‘sum received by the assessee from him employee ag oe dations to any PF or SAF of any fund set up under the provisions of Employees’ State welfare of the employee. =| Insurance Act or any other fund. for the purpose of business or profession and have the sale of animal is allowable as deduction | Sec 2(24)(x) :+ Income includes any i {ix} I respect of animats, which are used for the died, the actual cost fess amount realised on jo The amount of any bad debt which is written off as irrecoverable in the accounts of the assessee for the previous year, Condition: a Particular debtor should be write off; and ~b Messy An at write off; ant 3 [Re (fa oe b. Amount of debts has been treated as income in the year of written off or earlier year. Condition no, (b) is not applicable for Banking Co. or Financial institution. Nots Nate 2. Provisions orresore for bad debts is not allowed. — pyr yeaa a ok oun OCaIINeU WILT Gale S11, CT allow , { He as j ov Ys prousection . _ rea Rayjet Kane endilure incurred by a comp; ily planning xh any fo @ 3c Ol i % oagstisemployers ] Y for the purpose of promoting rfl : povided tna shall bo dadtciod 2 F any part thereof is of a eapital nature, one-fifth of | uot axpereo! shall bo ecto in the rovious year in which it was incwreds ane ly | oe ding previous years equal instalments for each of the four immediately | os janning arnongst employees [—* Revenue => Fully allowed —> Capital nature <> SI" allowed in each year ng’5 years By Other Assessee => — Not Allowed * securities Transaction Tax in respect of the taxable securities transactions entered into in aii) fhe course of his Business will be allowed, 4 prare broker jaan amount of commodilies transaction tax paid by the assessee in respect of the taxable (xd At pmodiles transactions entered into in the course of his business. Explanation. For the purposes of this clause, the expressions "commodities transaction "and ‘taxable commodities transaction" shall have the meanings respectively esigned (0 them under Chapter VII of the Finance Act, 2013 a4 3 ‘SEC 37(1) General Deduction on GENUINE BASIS. WG any expenditure other than specifically mentioned in Sec. 30 to 36 shall allowed as deduction, if the iglowing conditions are satisfied, 3). tis notin the nature of capital expenditure; b) Itis not in the nature of personal expenses of the assessee, and ¢) Itis laid out wholly and exclusively for the purpose of the business of the assessee; d) It should not have been incurred for any purposes, which is an offence or is prohibited under any law, Section 37(2B) Payment made to Political Party Notwithstanding anything contained in sub-section (1), no allowance shall be made in respect of expenditure incurred by an assessee on advertisement in any souvenir, brochure, tract, pamphlet or the like published by a political Scanned with CamSczIncome fi rom PGBP Sreauth) ariners: of Fin JLLP Interest and Remuneration top ned as remuner’ (1) P. ) Payment of salary, bonus, commission (ca! allowed as under, 4,50,000 or at tho rato of 90 por ver is more; OY Cent of RS. pook-profit, whiche 3.00,000 of te | fa) on tho first RS Dood profit oF 17 ase of a 108s the |. a) ovr the balance of he pook-profit | at te rato of 60 percent Conditions for allowance of remuneration:> {a) The payment should Be authorised by partnership deed. : sed by panne te — nership deed. (i (b) it should be for the period tating after the date of the art (ce) The payment should bbe made 0 working Parinets ent of interest to 2 partner (whether working or non-working) will be allowed to the Sen (2) The paym of 12% per annum simple inleresl. Conaitions for allowance of interest rized by the partnership-deed qi) The payment should be authori of interest should relate to a period fallin: after the date of partnershi, ship deed, — — n as a representative capacity, i (ii) The payment Explanation 1 to sec. 40 (b):- Where an indi is ai it fe fvidual is a partner in a firm on behalf of any other perso! > The interest paid to indivic such individual as representati i ive capacity will be allowed to the exte nt specified in sec.40 (b) > The interest fo such individual rw an represental a e i paid to such in 1 falive capacity w : af olherwise than representative capacity will not b Scanned with CamScz(ii) Penalty u/s 271B:- . whichever IS less. 00. ¥ @ 0.5% of the gross tumover or 7520 S/ \ Section 444A Maintenance of Books of Account sm Professionals (Notified) ‘Person, als irre" 6 Yeats ) road with Rule ni 0 OF pio 7 Businessman or other profession aan seu” 5 of Account, if his gros ceding the relavant Pret é For Notified Professionals apd main rapecto Every Nolified professionals shall keep. if Years iim in profession exceed Rs, 1.50,000 in ay of three ed B ed ray pret Years. : 14 15 Example 4: " ‘2 a) \ No Gross Receipts | 150.000 Example 2: 14 15 f i 12 i : | Yu scree 4,80,000 [vo 2,10,000 - in sionals [Section 44AA(1) read with Rule 6F] sof ul 1p and maintain Books of Account, if ene in kw phot the three years | For Businessman or other profe: (a) Every Businessman or other professionals a keey 56 =» Total Sales or Gross Recei exceeds Rs. rigs: or, il i immediately preceding the j. i relevant Previous Year | % > from PGBP exceeds RS. Jif lakhs; or PKL 26" bo ‘Suyogya I0CM (P) Ltd.011-65671008 pol & 1,240 Cran Jes: tty Scanned with CamSczroa Ravpect Kune 13 14 15 9,00,000 | 10,00,000 Yu 1,30,000 | 1,10,000 of? . F secti E covered under section 44, 4488, 44088 AND person wants to clatin 10 on 60 teu? yer income section f 4 under section 44AD, if he wants to claim lower income than presurntive ANO "| ere : \ ir ; ce eds MEL in such previous year, a sine penalty 8 sth provi a ys o comply Wih provision of section 44AA, the nally of RRs. 25,000 shall be levied iP TX Audit jonals (notified fessionals (no! under section 44AA) Col oe 7 ‘ i F : ie ocelot of professional during the relevant Previous Year exceeds Rs. 25 lays Businessman or other professionals ot mover oui mptive Taxation 2 © say person covered under section 44AE, 44BB, 44888 AND 7 Ant Zeee wants to claim lower income than presumptive agessee covered under section 4440, if He wants io ciaim lower income than v ‘AND his income during the relevant previous year exceeds MEL AY iste tan aul shed Te the relevant Previous Year exceeds Rs. One Grore. g cs in 8 jor Presu! tive presi ah From cewek He fi vle audit Report : y Due Date } Person required to get NY De ‘Audit under any other law | Form 3CA 3o Abst > otherwise Form 3CB ee vie Fax aude. 180,000 Statement of Particulars p > For nolified Professionals} Form 3CE > For Businessman Form 3CD Boh “0 section 2718: Penalty ‘ Posy - Lower of Rs. 1,50,000 or 0.50% of Turnover / Gross Receipts Maintenance _ Wore scanned with Camsce«SS under PGBP SN = No need to compute taxable income from PGBP as per normal provision of Income \ " st i AK, => Amount specified under respective section of presumptive taxation shall he toe, ey a Income from PGBP of assessee. % P ptive Taxation. ia a = Resident Assessee: - Section 448, 44BB, 44BBA, 44885 [> For Non-Res! L__s For Specified Resident Assessee:- Section 44AD L_—+ For All Assessee:- Section 44AE Resident Assessee:- Presumptive Taxation for Non Section 445:- i @ Incese of NR engaged in SHIPPING Business; f+ 7.5% ofFreight received or earned]in india ghall be deemed as Taxable Income from poge wit shall include Demurrage or Handling charges also. Note 1: Freig m lowe income than presumptive. Note 2: Assessee shall not entitle to clain Section 44BBA:- 7 Incase of NR engaged in AIRCRAFT Business; (5% off teight received pr earneqin Indiayshall be deemed as Taxable Income from PGBP Note 1: Freight shall include Demurrage or Handling charges also. Note 2: Assessee shall not entille to claim lowed income than presumptive. 7 Foreign company engaged in business in connection of Tuinkey Project approved-by-Gentral \ Government. Turnkey Projects: Civil Construction Erection of Plant and Machinery Testing and Commissioning of Plant and Machinery a Scanned with CamSczal NR engaged in 180 ling servi ni es providing ae ys ms supplying P&M or hire I | | Wing, USed in prospecting or extraction or production of | | Mineral Oils (i.e. Potroteum or natural Gas) umptive Income :- 40% of amount Charged or Received in India, ° for services or facilities or rent of PaM be used in prospecting or extraction or production of Mineral oils in India 2 to . shall be deemec as Taxable Income from PGBP 2 i intain Books of see may claim lower income than presumptive. If he do so, he must mai Asses: ° | o account uls 44AA and get Tax Audit u/s 44AB, (fail s 2 1A Scanned with CamSczrea QRaryject Kunwar 0. t enditur ; 5s ere ECiFED BUSINESS ~~ —— x 08 VITAL Business for our Country) (2 “6 alt ; sotng UP and Operating a Cold Chain Facility; Ay artkewrrean He FE HMA Re, aay Us ' a sorting up and Operating a Warehousing Facility for slorage of Agricultural produce; et Le Pa puiding and operating, anywhere in India, a hospital with at least 100 beds for patients; peveloping and building a Housing Project under a scheme for affordable housing framed (4) Dine Central Goverment or a State Government, as the case may be, and notified by the Board in this behall in accordance with the guidelines as may be prescribed 3) production of fertilizer in India; é yy ‘B" [other business but important for our country] cate ing and operating a cross-country natural gas or crude or petroleum oil pipeline network for © Gistribution, including storage facilities being an mtegral part of such network, — puiiding and operating, anywhere in india, a hotel of two-slar or above calegory as classified bythe Central Government; ‘hole! of two-slar or above ¢ developing and building a housing project under 4 scheine for sluin_sedeveiopmen|_or rehabilitation framed by the Central Government or a State Government. as the case may be, and nolified by the Board in this behalf in accordance wih the guidelines as may be prescribed The following new Specified businesses shall be inserted in section 35AD by the Finance ‘Act, 2012, w.e.f. 1-4-2013: (IM) selting up and operating an inland conlainer depot or a container freight station notified or approved under the Customs Act, 1962 (52 of 1962); (V)_ bee-keeping and productign of honey and beeswax; (W) setting up and operating a warehousing facility for storage of sugar SOCAHNEU WILE Lalorom P Inc DEDUCTION IN RESPECT C For CATEGORY 'A": is commenced on or after 01-04-2012 xpenditure of Capital Nature incurred, wholly and oxclusively, for aforesaig , Sing, i busine: 150% o' fbusiness is commenced before 01-04-2012 100% of Expenditure of Capital Nature incurred, wholly and exclusively, for atoresaies yyy, inns, For CATEGORY 'B’: 100% of Expenditure of Capital Nature incurred, wholly and exclusively, for aforesaid busing 8s, Deduction for Expenditure incurred prior to the commencement of business Where, (a) the expenditure is incurred prior to the commencement of its operations; and (b) the amount is capitalised in the books of account of the assessee on the date of commencement of ils operations. ° the expenditure incurred, wholly and exclusively, for the purposes of any specified business, shall be allowed as deduction (@ 100% or 150% as the case may be) during the previous year in which he commences operations of his specified business. Disqualify Capital Expenditure for Deduction: Any expenditure of capital nature shall not include any expenditure incurred on the acquisition of ar LAND or GOODWILL or FINANCIAL INSTRUMENT. “a " Scanned with CamScz