How is PGBP Income Calcuated for Proprietorshop
Last updated at Dec. 16, 2024 by Teachoo
Chapter 6 Business Income-Proprietorship
Are Proprietorship and Proprietor Same OR Different
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Courses
Free Income Tax Certification Course
- Chapter 1 Introduction
- Chapter 2 Different Heads of Income
- Chapter 3 Different ITR Forms & Due Dates
- Chapter 4 Income Tax Rates
- Chapter 5 Income from Salary & Deductions
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Chapter 6 Business Income-Proprietorship
- Chapter 7 Business Income-Patnership
- Chapter 8 Income from House Property
- Chapter 9 Income from Capital Gain
- Chapter 10 Employee on Contract
Transcript
Proprietor Pays Tax on Profit (Sales-Expenses) Sales 2000000 Purchase 1300000 Telephone 30000 20000 Electricity 50000 Total Exp 1400000 Profit 600000 Proper Accounting Required of these Income and Expenses (Not Possible for Small Business) Tax is Calculated on this Profit as per Slab Rate For these small Business Govt has launched Section 44AD/44ADA/44AE Schmes
