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    Computation 1

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    Vishnu Vardhan
    1. Akitha Chowdary's income statement for A.Y. 2021-2022 shows no taxable income. 2. She has a 50% share in the profits of Seaworld Shipping And Logistics partnership firm, which amounts to Rs. 36,09,410. 3. However, this entire profit share income is exempt from tax under section 10(2A) of the Income Tax Act. Therefore, her total income is Rs. 0 and no tax is payable.

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    Computation 1

    Uploaded by

    Vishnu Vardhan
    19 views1 page
    1. Akitha Chowdary's income statement for A.Y. 2021-2022 shows no taxable income. 2. She has a 50% share in the profits of Seaworld Shipping And Logistics partnership firm, which amounts to Rs. 36,09,410. 3. However, this entire profit share income is exempt from tax under section 10(2A) of the Income Tax Act. Therefore, her total income is Rs. 0 and no tax is payable.

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    1. Akitha Chowdary's income statement for A.Y. 2021-2022 shows no taxable income. 2. She has a 50% share in the profits of Seaworld Shipping And Logistics partnership firm, which amounts to Rs. 36,09,410. 3. However, this entire profit share income is exempt from tax under section 10(2A) of the Income Tax Act. Therefore, her total income is Rs. 0 and no tax is payable.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    19 views1 page

    Computation 1

    Uploaded by

    Vishnu Vardhan
    1. Akitha Chowdary's income statement for A.Y. 2021-2022 shows no taxable income. 2. She has a 50% share in the profits of Seaworld Shipping And Logistics partnership firm, which amounts to Rs. 36,09,410. 3. However, this entire profit share income is exempt from tax under section 10(2A) of the Income Tax Act. Therefore, her total income is Rs. 0 and no tax is payable.

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    © All Rights Reserved
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    Download as pdf or txt
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    A.Y.

    2021-2022

    Name : AKITHA CHOWDARY P. Y. : 2020-2021


    Father's Name : SAMBASIVARAO PARUCHUR P.A.N. : CQCPP 4226 R
    Address : Flat No 7 Plot No35 D.O.B. : 26-Jan-1992
    NSAI LAKSHMI APARTMENT
    Status : Individual
    BS LAYOUT
    SEETAMDHARA BE SIDE MORE LINE,
    Visakhapatnam - 530 013
    Aadhaar: 7006 8151 6971
    Resident
    Statement of Income
    Sch.No Rs. Rs. Rs.

     Profits and gains of Business or Profession


    Income from partnership firm Seaworld Shipping And 1 0
    Logistics
     Total Income 0
    Tax on total income 0

    Schedule 1
    Income from partnership firm
    Name: Seaworld Shipping And Logistics
    PAN ADBFS2352K
    Whether Firm is liable for audit? Yes
    Whether Section 92E is applicable to the Firm? No
    Capital Balance on 31st March 72,15,976
    Share of Profit (%) 50
    Share of Profit - exempt u/s 10(2A) 36,09,410
    Interest on capital 0
    Salary 0
    Bonus 0
    Commission 0
    Net Taxable income 0

    Income with full exemption


    Income Section Amount
    Share of profit from partnership 10(2A) 36,09,410
    Total exempt income 36,09,410

    Bank A/c: HDFC Bank 50100077062111 IFSC: HDFC0001604

    Date : 19-Feb-2022
    Place : Visakhapatnam (AKITHA CHOWDARY)

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