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XYZ PVT LTD Tax Computation 2015-16

XYZ PVT LTD is a domestic company located in Ahmedabad, Gujarat. For the assessment year 2015-2016: 1. The company's total business income was Rs. 345520. 2. The company's total tax liability according to normal rates is Rs. 106766. However, the minimum alternative tax is higher at Rs. 948504. 3. The company has Rs. 841738 in tax credits carried forward from previous years. After adjusting payments, the company has Rs. 36900 in taxes payable.

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jenish shah
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50 views2 pages

XYZ PVT LTD Tax Computation 2015-16

XYZ PVT LTD is a domestic company located in Ahmedabad, Gujarat. For the assessment year 2015-2016: 1. The company's total business income was Rs. 345520. 2. The company's total tax liability according to normal rates is Rs. 106766. However, the minimum alternative tax is higher at Rs. 948504. 3. The company has Rs. 841738 in tax credits carried forward from previous years. After adjusting payments, the company has Rs. 36900 in taxes payable.

Uploaded by

jenish shah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

XYZ PVT LTD

P.A.N.
Status
Residential
Status
Ward
Sex
Established on
Assessment Year
Previous Year
Return Due Date
Month of Filing

Address

AHMEDABAD (GUJARAT)

AAACX1225D
COMPANY (Domestic)
Resident
N/A

2015-2016
2014-2015
31/10/2015
February

COMPUTATION OF TOTAL INCOME


(Amounts in Rupees)

INCOME FROM BUSINESS OR PROFESSIONS


1. XYZ PVT LTD
Net Profit/Loss as per Profit & Loss A/c
Less : Income considered under other heads of Income
1 INTEREST INCOME
2 LTCG ON SHARES
3 STCG ON SHARES

4977713
4632193
53952
4254784
323457
Total

345520

Total Business Income

345520

2. INCOME RECEIVED FROM PARTNERSHIP FIRMS


1. AMEK FABRICS

BUSINESS OR PROFESSION

345520

GROSS TOTAL INCOME

345520

COMPUTATION OF TAX LIABILITY


Tax on taxable Income (345520) at normal rate
Add : Education Cess @2%
Add : SHE Cess @1%
Tax Liability
BOOK PROFIT UNDER SECTION 115JB :
Net Profit of Business
Book Profit

103656
2073
1037
106766
4977713
4977713

Minimum Alternative Tax (MAT) on book profit @18.50%


Add : Education Cess @2%
Add :
SHE Cess @1%
Tax Liability
Tax Liability [Regular or MAT whichever is more]

948504
38409

Add : Interest u/s 234C

38409
986913

Tax with Interest


Less : Advance Tax Paid
4th Instalment by 15/03/2015
1) On 11/03 at

920877
18418
9209
948504

950000
950000

950000

Balance Tax
Self Assessment Tax paid on date 29/02/2016:
at Hdfc
BSR code:1000001 Challan Sr.:00011
TAX TO PAY / REFUND

36913
10

PAYABLE:

36900

C/F TAX CREDIT U/S 115JAA


Assessement Year
2015-2016

Regular Tax

MAT

106766

948504

Tax Adjusted
Credit
Earlier Adjusted Now
841738
0
0

Tax Credit

C/F Mat
Credit
841738

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