AY 2019-

Saurabh Saklecha
2020
Address: Saklecha Bhawan Durga Mata Mandir Road NR ZANSIKIRANI
PUTALA Zhansi Putla
JALNA, MAHARASHTRA - 431203
Mobile: 91-9420229009
E-Mail: saurabh_saklecha@yahoo.com

Computation of Income (ITR3)

PAN: GAZPS8538C Status: Individual

Date of Birth 24/09/1993 Residential Status: Resident
Father's Name: Sajjan Champalal Saklecha Gender: Male
Bank A/C no.: 50200015243110 IFSC code: HDFC0000735
E-Filing Status: Not E-Filed Aadhaar Card Number: 249714842767

Tax Summary (Amount in 'Rs')

Business and Profession 4,12,147

Other Sources 19,945
Long Term Capital Gain at 20% -803
Gross Total Income 4,32,092
Less: Total Deductions - 34,812
Rounded off from 3,97,280 as per
Total Income (Taxable) Section 288A
3,97,280
Tax Payable 7,659
Interest & Fees + 1,216
Total Tax Payable 8,875
Less: Taxes Paid TDS - 3,996
Rounded off from 4,879 as per Section
Tax Due 288B
4,880
Taxes are applicable as per normal provision
Please refer Annexure for details
Business and Profession
Profit as per profit and loss account 4,12,146

Add:
Depreciation (Disallowed) 1,19,234
Depreciation (Allowed) 1,19,233
Net Income under the head "Business and Profession" 4,12,147

Other Income
Interest Income from Deposits 19,945
RAYMOND LIMITED 19,945
Total 19,945

Deductions
 Section Gross Amount Deductible Amount
80C (Total) 26,589 26,589
80D (Total) 8,223
Medical Insurance Premium - Parents 8,223
Total 34,812

Income Tax
Total Income 3,97,280
Basic Exemption 2,50,000
Income Tax 7,364
Health and Education Cess 295
Total Tax 7,659
Interest Due 1,216
234A(6 month(s)) 216
234F 1,000
Tax Paid -3,996
TDS 3,996
Payable 4,880

Depreciation In Business & Profession

Block Opening Buy Sell Buy in Sell in Depreciation Capital Carry

in in second second Value Gain forward
first first half half (If Value
half half Any)

Plant and Machinery - (15%)

- - - 4,13,189 - 30,989 - 3,82,200

Furniture - (10%)
- - - 15,51,002 - 77,550 - 14,73,452

Plant and Machinery - Computers - (40%)

- - - 53,468 - 10,694 - 42,774
Total Depreciation 1,19,233 -

Taxes Paid
(Self-Assessment Tax, TDS on Non Salary Income)

Self-Assessment Tax

BSR Code Date Challan No Amount

U/S 140(A) 4,880

TDS on Non Salary Income

 Brought TDS Income For
Type of Deducted
Name Tan Forward Amount Which TDS Balance
Income Year
TDS Claimed Paid
RAYMOND Other
PNER07782F 2018 1,996 19,945 0
LIMITED Sources
RAYMOND Business &
PNER07782F 2018 2,000 2,00,000 0
LIMITED Profession
Total 3,996

Annexures
Long Term Capital Gain (Amount in 'Rs')
Sale of Land/Building

Land/Building other than residential

Sales Consideration 25/05/18 3,24,000
Less: Transfer Expenses
Less: Indexed cost of Acquisition
10/11/15 26,256
(23,818 × 280/254)
Less: Indexed Cost of Improvement
19,048
(19,048 × 280/280)
Less: Indexed Cost of Improvement
71,306
(69,269 × 280/272)
Less: Indexed Cost of Improvement
92,746
(87,446 × 280/264)
Gain 1,14,644
Taxable LTCG 1,14,644

Land/Building other than residential

Sales Consideration 18/02/19 4,40,000
Less: Transfer Expenses
Less: Indexed cost of Acquisition
10/11/15 34,523
(31,317 × 280/254)
Less: Indexed Cost of Improvement
25,046
(25,046 × 280/280)
Less: Indexed Cost of Improvement
93,759
(91,080 × 280/272)
Less: Indexed Cost of Improvement
1,21,948
(1,14,980 × 280/264)
Gain 1,64,724
Taxable LTCG 1,64,724

Residential House Property

Sales Consideration 18/02/19 6,86,000
Less: Transfer Expenses
Less: Indexed cost of Acquisition
10/11/15 1,33,536
(1,21,136 × 280/254)
Less: Indexed Cost of Improvement
72,047
(72,047 × 280/280)
Less: Indexed Cost of Improvement
2,69,706
(2,62,000 × 280/272)
Less: Indexed Cost of Improvement
3,50,798
(3,30,752 × 280/264)
Gain -1,40,086
Taxable LTCG -1,40,086

Residential House Property

Sales Consideration 18/02/19 6,86,000
Less: Transfer Expenses
Less: Indexed cost of Acquisition
10/11/15 1,33,536
(1,21,136 × 280/254)
Less: Indexed Cost of Improvement
72,047
(72,047 × 280/280)
Less: Indexed Cost of Improvement
2,69,706
(2,62,000 × 280/272)
Less: Indexed Cost of Improvement
3,50,797
(3,30,751 × 280/264)
Gain -1,40,085
Taxable LTCG -1,40,085

Total Long Term Capital Gain Other Than Exempt: -803

Long Term Capital Gain Unused Exemptions:

Asset Unused exemption amount
Residential House Property 1,40,086
Residential House Property 1,40,085

Bank Account Details

SI No. IFSC Code Name of the Bank Account No.

1 HDFC0000735 HDFC Bank 50200015243110

Financial Particulars

Balance sheet as on 31st March, 2019

Amount in Amount in
Particulars
INR INR

1. Sources of Funds
Proprietor's fund
Proprietor's capital 56,90,933
Total proprietor's fund 56,90,933
Loan funds
Unsecured loans (including deposits)
From others 35,00,000
Total Loan Funds 35,00,000
Total Sources of funds 91,90,933
 2. Applications of Funds
Fixed assets
Gross: Block 20,17,658
Depreciation 1,19,234
Net Block(Gross: Block - Depreciation) 18,98,424
Total Fixed Assets 18,98,424
Current assets, loans and advances
Current assets
Inventories
Finished Goods/Traded Goods 54,78,529
Sundry Debtors 1,12,372
Cash and Bank Balances
Cash-in-hand 3,74,792
Balance with banks 1,72,110
Other Current Assets 6,31,532
Loans and advances
Deposits, loans and advances to corporates and others 14,50,000
Total of current assets, loans and advances 82,19,335
Current liabilities and provisions
Current liabilities
Sundry Creditors 7,93,136
Provisions
Other Provisions 1,33,690
Total current liabilities and provisions 9,26,826
Net current assets 72,92,509
Total application of funds 91,90,933

4. Statement of Trading account for the FY 2018-19

Revenue from operations
Sale of goods 49,81,619
Duties, taxes and cess received or receivable in respect of goods and
services sold or supplied
Total Revenue from operations 49,81,619
Closing Stock of Finished Stocks 54,78,529
Total of credits to Trading Account 1,04,60,148
Purchases (net of refunds and duty or tax, if any) 83,78,182
Gross Profit from Business/Profession - transferred to Profit and
20,81,966
Loss account

5. Statement of Profit and Loss account for the FY 2018-19

Gross profit transferred from Trading Account 20,81,966
Other income
Any other income 2,64,078
Total of other income 2,64,078
Total of credits 23,46,044
Freight outward 15,085
Power and fuel 64,020
Rents 3,90,000
Compensation to employees
 Salaries and wages 3,94,387
Total compensation to employees 3,94,387
Insurance
Other Insurance including factory, office, car, goods etc. 21,560
Total expenditure on insurance 21,560
Workmen and staff welfare expenses 45,479
Sales promotion including publicity (other than advertisement) 3,63,671
Commission
To others 21,795
Total Commission 21,795
Traveling expenses other than on foreign traveling 45,093
Other expenses 3,36,107
Interest
To others 1,17,467
Total Interest 1,17,467
Depreciation and amortisation 1,19,234
Net Profit before taxes 4,12,146
Profit after tax 4,12,146
Amount available for appropriation 4,12,146
Balance carried to balance sheet in proprietor's account 4,12,146

Signature
Prepared by Ruchika Saklecha
For Saurabh Saklecha

Generated by TaxCloud India (www.taxcloudindia.com)