advance tax calculation

7/31/2019 Advance Tax Calculation

1/10

Interest under section 234A

Amount payable Short fall (Rounded off) Rate of Interest

Due Date of filing of

Return Date of filing of Return

Rs. Rs.#REF! #REF! 1.00% July 31, 2010 15-Feb-11

Interest under section 234B

Amount payable Amount Paid

Rs. Rs. Rs.

Interest from #REF! - #REF!

Interest under section 234C NA

Installment Amount Due Due date Amount Paid

Excess / (short fall)

(Rounded off)

Rs. Rs. Rs.

1st #REF! 15-Sep-09 0 #REF!

2nd #REF! 15-Dec-09 0 #REF!

3rd #REF! 15-Mar-10 0 #REF!

0

Total Interest payable

Short fall (Rounded

off)

As per Rule 119A, the amount of tax in respect of which interest is calculated shall be rounded off to the nearest multiple of one hun

shall be ignored.


2/10

Tax payable

Difference Rate Tax

- 160,000 160,000 0% -

160,000 317,770 157,770 10% 15,777

317,770 317,770 - 20% -

500,000 716,380 30% -15,777

Slab


3/10

Name Financial Year 2010-2011

Fathers Name Assessment Year 2011-2012

PAN

Residential status

DOB

Statement of computation of total Income and tax liability

TOTAL INCOME

Income from Business & Profession

Net Profit As Per Profit & Loss Account 404,917

Income From Other Sources

Interest On FDR

Bank Interest 12,850 12,850

Gross Total Income 417,767

Less: Deduction under Chapter VI - A

80C

80C LIC 61,591

ICICI Prudential Life Insurance co. 20,000

PPF 30,000

School Fees 36,000 -100,000

Restricted to 100,000

80DICICI Lombard GIC Ltd 2,588

Tata AIG Health Insurance 5,088

Tata AIG life Health Insurance 5,352

Tata AIG life plus policy 2,144 -15,000

Restricted to 15000

Net Taxable Income 317,767

Rounded off under Section 288A 317,770

TAX LIABILITY

Tax payable 15,777

Add:- Education cess 473

16,250

Add: Interest payable 743

Total Tax Payable 16,993


4/10

PARTICULARS 2010-11 2009-10 PARTICULARS 2010-11

Bank Charges 160 99 Prof Charges Received 842,332

Conveyances 25,850 25,350

Credit Card Charges 53 819

Depreciation 9,712 5,250

Electricity Expenses 7,460 7,880

Internet Expenses 5,473 1,312

Motor Car Running Expenses 19,536 14,236

Printing & Stationery 4,362 7,738

Professional Fees Charges 16,800 7,750

Salary & Wages 80,000 90,000

Society Charges 21,485 61,046

Staff Welfare 13,255 12,162

Telephone Expenses 12,769 14,521

Business promotion 30,000 72,000

To professional fees

Amita 100,000 50,000

Anil P Chaudhari 73,500 36,000

Kalpana Chaudhari - 30,000

Machhindra Chaudhari 12,000 28,000

PROFIT & LOSS A/C AS ON 31ST MARCH 2011


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Yogita More 5,000 -

PROFIT & LOSS A/C 404,917 323,762

842,332 787,926 842,332


6/10

2009-10

787,926 54,406

Change


7/10

787,926


8/10

Capital Account 187,080 213,332

Bank Interest - 17,184

Capital Account - 187,190

Credit Card 3,188

Drawings 98,968

Income Tax AY 2009-10 6,165Interest on Fdr - 8,958

Mahanagar Gas Limited 2,726

School Fees 55,150

Tata Aig Health Insurance 6,783

Tata Aig Life Health Insurance 9,812

Tata Aig Life Plus Policy 4,288

Loans (Liability) 2,588

ICICI Lombard GIC LTD 2,588

Fixed Assets 55,038

Motor Car 55,038

Investments 261,837

Bharat Co-Op Bank Fd 29,800

Bharat FD 35605 1,710

Bharat FD 43850 7,248

Icici Prudential Life Ins Co 40,000

LIC 123,079

PPF 30,000

Sbi Mutual Fund 30,000

Current Assets 590,381

Loans & Advances (Asset) -

Cash-in-hand 33,598Bank Accounts 556,783

Indirect Incomes - 992,332

Professional Fees - 992,332

Indirect Expenses 457,415

Bank Charges 160

Car Expenditure 4,100

Conveyances 25,850

Credit Card Charges 53

Depreciation 9,712

Electricity Expenses 7,460

Interest on ICICI Lombard 518

Internet Expenses 4,955

Motor Car Running Expenses 15,436

Printing & Stationery 4,362

Professional Fees Charges 257,300

Salary & Wages 80,000

Society Charges 21,485

Staff Welfare 13,255

Telephone Expenses 12,769


9/10

Profit & Loss A/c - 348,674


10/10

Depreciation of Motor Vehical

6-Dec-09 70,000

Depreciation 2009-10 15% -5,250

WDV As on 1 April 2010 64,750

Depreciation 2010-11 15% -9,713

WDV As on 1 April 2011 55,038

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