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BB Compiler May 25

The document outlines the tax computation for BB Ltd for the Assessment Year 25-26, detailing various income sources including rental income, short-term capital gains, and interest on bank deposits. It calculates the total income to be 90,45,000 and the total tax liability, including surcharges and health and education cess, resulting in a net payable tax of 17,76,346. Additionally, it mentions the company's donation to a political party and its election for a lower tax regime under section 115BAB.

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varsharaju7299
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743 views554 pages

BB Compiler May 25

The document outlines the tax computation for BB Ltd for the Assessment Year 25-26, detailing various income sources including rental income, short-term capital gains, and interest on bank deposits. It calculates the total income to be 90,45,000 and the total tax liability, including surcharges and health and education cess, resulting in a net payable tax of 17,76,346. Additionally, it mentions the company's donation to a political party and its election for a lower tax regime under section 115BAB.

Uploaded by

varsharaju7299
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Chapter 1: Basics, Tax Rates AY 25-26 & Alternate Taxation Regime

Short-term capital gain on transfer of land (Computed) 18,00,000


Short-term capital gain on transfer of a Depreciable Assets (Computed) 2,00,000
Rental Income from Commercial Property 7,00,000
BB ltd has donated f 50,000 to a political party. BB Ltd. has opted for lower tax regime of section
115BAB. Necessary option uploaded at the time of submission of first income-tax return. Find out
the tax liability of BB ltd.
Answer
Computation of Total Income PY 24-25 AY 25-26
Particular ' '
Income from House Prouertv
Rental Income from Commercial Property 7,00,000
Deduction u/s 24 NIA 7,00,000
Profit & Gain from Business or Profession
Income from Manufacturing Activities 60,45,000
Capital Gain
STCG onLand 18,00,000
STCG on Depreciable Assets 2,00,000
Income from other sources
Interest on Bank FD 3,00,000
Gross Total Income 90,45,000
Deduction u/s 80GGB: Donation to Political Party NIA
Total Income(NTI) 90,45,000
Computation of Tax Liability
Particular Income Tax Rate '
(i) Tax on House Property Income 7,00,000 22% 1,54,000
(ii) Tax on Interest on FD 3,00,000 22% 66,000
(iii) STCG onLand 18,00,000 22% 3,96,000
(iv) Tax on Balance Income 62,45,000 15% 9,36,750
Total 90,45,000 15,52,750
Add: Surcharge@10% 1,55,275
17,08,025
Add:HEC@4% 68,321
Net Taxable Payable 17,76,346

CA Bhanwar Borana
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