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  • Net Profit As Per P&L A/c 233589: Pan:Bahpm5941G/ Range Ii /ward Ii (4) /SLM/ Assessment Year:2013-14

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    R. Mani owns a textile business and owns land and machinery. He filed his income tax return for assessment year 2013-2014 reporting a gross total income of Rs. 277,549 consisting of net business profits of Rs. 276,955 and savings bank interest of Rs. 594. His total income after deductions was Rs. 269,179 on which he paid Rs. 7,125 in tax. His statement of affairs as of March 31, 2013 showed assets of Rs. 2,354,019 including machinery, land, stock, and debtors and liabilities of the same amount including capital, creditors and bank balances.

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    R. Mani owns a textile business and owns land and machinery. He filed his income tax return for assessment year 2013-2014 reporting a gross total income of Rs. 277,549 consisting of net business profits of Rs. 276,955 and savings bank interest of Rs. 594. His total income after deductions was Rs. 269,179 on which he paid Rs. 7,125 in tax. His statement of affairs as of March 31, 2013 showed assets of Rs. 2,354,019 including machinery, land, stock, and debtors and liabilities of the same amount including capital, creditors and bank balances.

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    7 views5 pages

    Net Profit As Per P&L A/c 233589: Pan:Bahpm5941G/ Range Ii /ward Ii (4) /SLM/ Assessment Year:2013-14

    Uploaded by

    cachandhiran
    R. Mani owns a textile business and owns land and machinery. He filed his income tax return for assessment year 2013-2014 reporting a gross total income of Rs. 277,549 consisting of net business profits of Rs. 276,955 and savings bank interest of Rs. 594. His total income after deductions was Rs. 269,179 on which he paid Rs. 7,125 in tax. His statement of affairs as of March 31, 2013 showed assets of Rs. 2,354,019 including machinery, land, stock, and debtors and liabilities of the same amount including capital, creditors and bank balances.

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    © All Rights Reserved
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    of 5

    PAN:BAHPM5941G/ RANGE II /WARD II(4)/SLM/ ASSESSMENT YEAR:2013-14

    M/S.YUVARAJ TEX PROP:R.MANI,S/O.RAMASAMY,3/274,C.THALAVANKADU,


    SIVANKADU,AVATHIPALAYAM,PALLIPALAYAM,AGRAHARAM PO-638008
    TOTAL INCOME STATEMENT FOR THE YEAR ENDED 31ST MARCH 2013
    STATUS: INDIVIDUAL

    DATE OF BIRTH:20-08-1966

    INCOME FROM BUSINESS:


    Net Profit as per P&L a/c

    233589

    INCOME ADMITTED U/S.44AD


    Turnover 3461934 @ 8%
    276955
    Whichever is more admitted as Income
    INCOME FROM OTHER SOURCES:
    Sb Interest
    GROSS TOTAL INCOME
    LESS: DEDUCTION U/S 80C
    LIC Premium paid
    DEDUCTION U/S 80TTA
    TOTAL INCOME
    Tax on the above income
    Add: Education Cess @ 3%
    140A TAX PAYABLE

    276955

    594
    277549
    7776
    594
    269179
    6918
    208
    7125

    PAN:BAHPM5941G/WARD:II(4)SLM/ASST.YEAR:2013-14
    R.MANI,S/O.RAMASAMY,3/274,C.THALAVANKADU/KUMARAN STREET,SIVANKADU,
    AVANTHIPALAYAM,PALLIPALAYAM,AGRAHARAM PO-638008
    TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2013

    PARTICULARS
    To Opening Stock
    Fabrics
    To Purchase
    Yarn
    To Cartage
    To Electricity
    To Wages paid to Workers
    To Weaving Wages
    To Gross Profit

    AMOUNT

    PARTICULARS

    By Sales
    222460.00
    - Lungi Cloth

    3409700.00

    By Closing Stock
    Yarn and Lungie Cloth

    3461934.00

    1075650.00

    28940.00
    44250.00
    245060.00
    264350.00
    322824.00
    4537584.00

    4537584.00
    By Gross Profit

    To Bonus to staff & Workers


    To Stationary
    To Cell-phone expenses
    To Bank Commission
    To Moped Maintenance
    To General Expenses
    To Auditor Fees
    To Net Profit

    AMOUNT

    322824.00

    53500.00
    665.00
    6950.00
    1285.36
    15950.00
    4885.00
    6000.00
    233588.64
    322824.00

    322824.00

    PAN:BAHPM5941G/WARD:II(4)SLM/ASST.YEAR:2013-14
    R.MANI,S/O.RAMASAMY,3/274,C.THALAVANKADU,SIVANKADU,
    AVANTHIPALAYAM,PALLIPALAYAM,AGRAHARAM PO-638008
    STATEMENT OF AFFAIRS AS ON 31.03.2013
    LIABILITIES
    Capital a/c
    SUNDRY CREDITORS
    FOR TRADE
    FOR EXPENSES

    AMOUNT

    ASSETS

    AMOUNT

    1438017.14 Fixed Assets


    Vaccant Land Purchased jointly
    with his wife Smt.M.Poonkodi
    910002.00 S.F.No:108/1C.sq.ft 1876 (1/2)
    6000.00 Kalianoor Village.,Pallipalayam
    Purchased on 15.05.2008
    Land Value
    = Rs.2,00,000
    Stamp Paper &
    Reg.Fees
    = Rs.25,000
    Total Value
    = Rs.2,25,000
    - Half Share of the assessee

    112500.00

    Vaccant Land Purchased jointly


    with his wife Smt.M.Poonkodi
    S.F.No:28/1.sq.ft 2100 (1/2)
    Kalianoor Village.,Pallipalayam
    Purchased on 04.02.2011
    Land Value
    = Rs.80,000
    Stamp Paper &
    Reg.Fees
    = Rs.8,820
    Total Value
    = Rs.88,820
    - Half Share of the assessee

    44410.00

    Powerloom 10 Nos., with Motors


    and Accessories- got from
    Sri Ramasamy-65 years gifted
    to assessee since he became
    aged and in ill-health who was
    leasing the Machineries earlier.
    -Value
    TVS-50- purchased before 20
    years
    Closing Stock
    Sundry Debtors

    150000.00
    2000.00
    1075650.00
    882131.00

    BANK BALANCE

    Indian Overseas Bank SB-2626


    City Union Bank CA No.127877
    State Bank of India SBA/c
    Cash in Hand
    2354019.14

    11598.00
    44735.14
    11622.00
    19373.00
    2354019.14

    R.MANI,S/O.RAMASAMY,3/274,C.THALAVANKADU,SIVANKADU,
    AVANTHIPALAYAM,PALLIPALAYAM,AGRAHARAM PO-638008
    DETAILS FOR SUNDRY CREDITORS
    FOR TRADE
    Bharathi Fabrics, Erode
    sugham Agencies
    Uma Shankar Tex
    M.Palanisamy
    FOR EXPENSES
    Audit Fees Payable

    139980
    147292
    146980
    475750
    910002
    6000.00
    6000.00

    DETAILS FOR SUNDRY DEBTORS


    J K Lungi Hand Looms (P) Ltd.,Erode
    R.Kumar Tex
    R.P.Mohan

    244315.00
    520220.00
    117596.00
    882131.00

    CAPITAL ACCOUNT OF MR.R.MANI IN HIS OWN BOOKS


    ASSESSMENT YEAR 2013 - 2014
    DATE
    PARTICULARS
    CREDIT
    DEBIT
    01.04.2012 By Balance b/d
    31.03.2013 To LIC Premium paid
    Policy No:766741947
    31.03.2012 To Income Tax paid for the year 2012
    31.03.2012 By SB Interest
    31.03.2012 To Drawings
    31.03.2012 By Profit
    31.03.2012 To Balance c/d

    1326788.50
    7776.00
    7178.00
    594.00
    108000.00
    233588.64
    1438017.14
    1560971.14 1560971.14

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