Compute the income under the head PGBP stating reasons for treatment of each item
Net profit as per profit and loss account is Rs 90 00 000
Following items were debited to the profit and loss account
Donation paid to Swachh Bharat Kosh is Rs 1 00 000
Contribution to political party is Rs 2 00 000
Bonus paid to employees after the due date of filing of return is Rs 2 00 000
Audit fees paid to the auditors Rs 1 00 000 without deducting TDS
Professional fees paid to a lawyer Rs 10 000 without deducting TDS
Following items were credited to the profit and loss account
Rent received from vacant land is Rs 1 20 000
Rent received from commercial property is Rs 2 50 000
Interest received on income tax refund is Rs 1 00 000
Profit on sale of unused land is Rs 10 00 000

Answer rating: 100% (QA)

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