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New Odisha Networks 2023-24

The document presents the balance sheet, profit and loss account, and fixed assets schedule for New Odisha Networks as of March 31, 2024. It details the financial position, including total assets and liabilities of Rs. 43,51,721, and a net profit of Rs. 18,37,504 for the year. Additionally, it includes a computation of net income and tax payable amounting to Rs. 2,88,751.

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0% found this document useful (0 votes)
9 views5 pages

New Odisha Networks 2023-24

The document presents the balance sheet, profit and loss account, and fixed assets schedule for New Odisha Networks as of March 31, 2024. It details the financial position, including total assets and liabilities of Rs. 43,51,721, and a net profit of Rs. 18,37,504 for the year. Additionally, it includes a computation of net income and tax payable amounting to Rs. 2,88,751.

Uploaded by

sahood9777
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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NEW ODISHA NETWORKS

PROP: DEBASISH SAHOO


AT/PO - KAIPADAR, DIST - KHORDHA, PIN - 752056

BALANCE SHEET AS ON 31ST MARCH' 2024


Amount Amount
Liabilities (Rs.) Assets (Rs.)
Capital Account Fixed Assets 4,03,436
Opening Balance 17,78,467
Less : Drawings (7,20,000)
Add : Net Profit 18,37,504 26,95,971
Current Assets
Loan Fund Closing Stock 3,10,454
CC Loan - BOB 14,33,624 Sundry Debtors 22,46,000
Vehicle Loan 2,22,126 Cash in Hand 34,568
Cash at Bank 13,38,545
Current Liabilities TDS Receivable 18,718 39,48,285
Sundry Creditors 0
Audit Fees Payable 10,000

Total 43,51,721 Total 43,51,721

Accountants Report
The Balance Sheet and P&L Accounts are prepared based on the information and explanations provided to us by
the proprietor.

for B C P & ASSOCIATES


Chartered Accountants
Firm Reg No. 330599E

NEW ODISHA NETWORKS

CA. Sidhartha Sankar Patra


Proprietor
Membership No. 064086
Debasish Sahoo
Place : Bhubaneswar Proprietor
Date : 27th Jun, 2024
UDIN : 21310992AAAAAW8478
NEW ODISHA NETWORKS
PROP: DEBASIS SAHOO
AT/PO - KAIPADAR, DIST - KHORDHA, PIN - 752056
SCHEDULE OF FIXED ASSETS FOR THE YEAR 2023-24

SCHEDULE OF FIXED ASSETS Amount in Rs

Sl. Gross Block Depreciation Net Block

No. PARTICULARS RATE Addition Sales/ W.D.V as on W.D.V as on


Opening Balance Closing Balance Opening as on During the Closing as on
Adjustment
as on 01.04.2023 More than Less than 180 as on 31.03.2024 01.04.2023 Year 31.03.2024
(%) during the year 01.04.2023 31.03.2024
180 days days

1 Furniture 10% 71,140 - - - 71,140 7,106 6,394 13,500 63,948 57,554

2 Computer 40% 57,600 - - - 57,600 23,040 13,824 36,864 34,560 20,736

3 Car 15% 3,53,000 - - - 3,53,000 26,475 48,979 75,454 3,26,525 2,77,546

4 Airconditioner 15% - 56,000 - - 56,000 - 8,400 8,400 - 47,600

TOTAL 4,81,740 56,000 - - 5,37,740 56,603 77,597 1,34,218 4,25,033 4,03,436


NEW ODISHA NETWORKS
PROP: DEBASISH SAHOO
AT/PO - KAIPADAR, DIST - KHORDHA, PIN - 752056

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH' 2024
Amount Amount
Particulars (Rs.) Particulars (Rs.)
To Opening Stock 4,24,733 By Sales 232,72,00,539
To Purchase 232,54,58,965 By Closing Stock 3,10,454
To Gross Profit C/d 23,27,295
32,75,10,993 232,75,10,993
To Salary to Staff 2,72,000 By Gross Profit B/d 23,27,295
To Telephone & Mobile Charges 5,230 By Commission 1,06,809
To Printing & Stationery 3,246
To Bank Interest 62,502
To Bank Charges 9,643
To Power & Fuel 5,438
To Staff Welfare 8,327
To Rent 72,000
To Legal & Consultancy Fees 76,400
To Newspaper & Periodicals 1,956
To Audit Fees 10,000
To Travelling Expenses 8,874
To Depreciation 60,984
To Net Profit 18,37,504
Total 24,34,104 Total 24,34,104

Accountants Report
The Balance Sheet and P&L Accounts are prepared based on the information and explanations provided
to us by the proprietor.

for S MISHRA & CO


Chartered Accountants
Firm Reg No. 330599E

Sudikshya Mishra Debasish Sahoo


Proprietor Proprietor
Membership No. 310992

Place : Bhawanipatna
Date : 27th Jun, 2024
UDIN : 21310992AAAAAW8478
DEBASISH SAHOO PAN : BSVPS7354F
S/o - BIRAKISHORE SAHOO DOB : 13-Jul-96 STATUS : INDIVIDUAL
AT/PO - KAIPADAR AGE : 29 P/Y End. : 31-03-2024
DIST - KHORDHA, PIN - 752056 5,00,000 A/Y
EX. LIMIT : : 2023-2024
MOB: 9439915114 DUE DATE : 15-06-2024
BANK DETAILS: HDFC Bank, A/c No.50200042192781, IFSC: HDFC0002314

COMPUTATION OF NET INCOME & TAX Amount (Rs)


I. INCOME FROM SALARY: Gross Salary -
Salary -
Pension -
Total Gross Salary -
Less: Exemption U/s 10
Children Education Allowance -
House Rent Allowance -
Standard Deduction -
Professional Tax -
Total Deduction -
II. INCOME FROM HOUSE PROPERTY: -
House - I (Let Out) -
Address:
Gross Annual Value -
Less: Municipal Taxes -
Net Annual Value -
Less: Deductions U/s 24
Standard Deduction: 30% of NAV -
Interest on borrowed capital -
1/5th of Pre-Completion Interest -
-
-
III. INCOME FROM BUSINESS/PROFESSION: 18,37,504
Profit/(Loss) for the year -

Presumption income U/s 44AD 44ADA 44AE


Gross Turnover for the year 232,72,00,539 - -
Income from Business/Profession 18,37,504 - - 18,37,504

Sl Vehicle No. Month Used Capacity (MT)


1
2
3

IV. INCOME FROM CAPITAL GAIN: -


Short Term Capital Gain at Normal Rates -
Short Term Capital Gain (U/s 111A) @15% -
Long Term Capital Gain @10% -
Long Term Capital Gain @20% -

V. INCOME FROM OTHER SOURCES: 2,505


Interest on SB A/c -
Interest on FD A/c 2,505
Interest of S.D (Electricity) -
Dividend from Indian Companies -
2,505
Less: Income exempt from tax U/s 10
Dividend from Indian Companies -

VI. INCOME FROM AGRICULTURE: -


Sale of Farm Products -
Sale of other Items -
Sale of Mango -
Sale of Paddy -
-
Less: Expenses for Agriculture
Purchase of Seeds -
Purchase of Pesticides -
Agriculture Maintenance -
Wages -
-

GROSS TAXABLE INCOME 18,40,009

DEDUCTION UNDER CHAPTER VIA:


Deduction U/s 80C -
Housing Loan (Principal) -
LIC -
Tuition Fees -
Invest in ELSS -
Provident Fund (EPF) -
Provident Fund (PPF) -
Unit Linked Insurance Plan -
National Savings Certificate -
Total -
Subject to Maximum -
Deduction U/s 80CCCD 1(B) (NPS)

Deduction U/s 80D Deduction


Actual Paid
Allowed -
Mediclaim Insurance - -
Medical Expenditure - -
Preventive Health Checkup - -

Deduction U/s 80TTA 2,505


Interest on SB A/c - -
Deduction U/s 80TTB
Interest on SB/FD A/c 2,505 2,505
Donation to Charitable Trust U/s 80G -

TOTAL DEDUCTION 2,505

NET TAXABLE INCOME/NON AGRICULTURAL INCOME 18,37,504


NET AGRICULTURAL INCOME -
TOTAL INCOME 18,37,504
AGGREGATED INCOME (R/O) 18,37,500

INCOME TAX ON (Ag. + Non-Ag.) INCOME OF Rs. 18,37,500 3,00,301


INCOME TAX REBATE ON (Ag. ) INCOME OF Rs. 5,00,000 -
INCOME TAX ON SPECIAL RATE -
NET INCOME TAX 3,00,301
Less: Rebate U/s 87A 2,88,751
Add : Surchage @ NIL -
TAX AND SURCHARGE 2,88,751
Add : Educational Cess (including SHEC) @ 3% -
TOTAL 2,88,751
Add : Interest U/s 234A/234B/234C -
TOTAL TAX PAYABLE 2,88,751

Less : TDS -
Advance Tax -
Self Assessment Tax - -
TAX PAYABLE / (REFUNDABLE) Rs. 2,88,751

DEBASISH SAHOO

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