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Balance Sheet Ay 2023-24 Mubarak Shaikh

1) Mubarak Mushatak Shaikh operates a sole proprietorship called Mubarak Eggs Agency. The business sells eggs and earns a net profit of Rs. 6,68,978 for the 2023-24 financial year based on total sales of Rs. 13,25,487. 2) Mubarak's total income is Rs. 6,69,606 which includes income from business (Rs. 6,68,978), income from other sources (Rs. 628), and deductions of Rs. 1,70,248 under Chapter VI-A. 3) After deductions, Mubarak's total taxable income is Rs. 4,99,358 with a rounded figure of Rs. 4,

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58 views5 pages

Balance Sheet Ay 2023-24 Mubarak Shaikh

1) Mubarak Mushatak Shaikh operates a sole proprietorship called Mubarak Eggs Agency. The business sells eggs and earns a net profit of Rs. 6,68,978 for the 2023-24 financial year based on total sales of Rs. 13,25,487. 2) Mubarak's total income is Rs. 6,69,606 which includes income from business (Rs. 6,68,978), income from other sources (Rs. 628), and deductions of Rs. 1,70,248 under Chapter VI-A. 3) After deductions, Mubarak's total taxable income is Rs. 4,99,358 with a rounded figure of Rs. 4,

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Computation of Total Income

Assessment Year 2023-24


Name of Client MUBARAK MUSHATAK SHAIKH
Sex Male
Date of Birth 10-Jan-1998
Father's Name MUSHATAK SHAIKH

DIRVER COLONY,THERGAON, PIMPRI


Address CHINCHAWAD, HAVELI,PUNE,411017
Status INDIVIDUAL
Ward Pune
PAN LSVPS7579A
Residential Status Resident
Particulars of Business
E-mail
* Computation of Total Income*
SR.NO. Source of Income AMOUNT(RS.)

1 Income from Salary

2 Income from House Property

3 Income from Business & Profession


Income U/s 44AD 6,68,978

4 Capital Gain 0

5 Income from Other Sources 628

6 Gross Total Income (GTI) 6,69,606


7 (-) Deductions of Chapter (VI-A) 1,70,248
8 Total income after deductions 4,99,358
9 Income Rounded off u/s 288A 4,99,360
10 Total Tax Due
11 Less- Rebate u/s 87A 0
12 Tax Payable 0
M/S : MUBARAK EGGS AGENCY
Prop : MUBARAK MUSHATAK SHAIKH
Address : C/O AMINA KHATUN KHAN, S R NO 115/1/6, GURU KRUPA COLONY, NEAR MANE
SCHOOL AND HANUMAN SUPER MARKET KALEWADI HAVELI, PUNE, 411018
Trading & Profit & Loss Account for the year ended 31st March 2023

Particulars Amount (Rs.) Particulars Amount (Rs.)


To Purchase 2,94,518 By Sales Accounts 13,25,487
To Wages & Salary 1,60,000

To Gross Profit c/d 8,70,969


13,25,487 13,25,487

To Telephone 9,235 By Gross Profit b/d 8,70,969


To Traveling & Convenyance 29,648
To Shop Exp. 19,824
To Transportation Exp. 32,648
To Electricity Bill 26,349
To Repairs & Maintenance 23,648
To Printing & Stationery 12,497
To Professional Fees 6,000
To Misc Exps 17,943
To Depreciation 24,199
To Net Profit 6,68,978

8,70,969 8,70,969
As per information given to us by Proprietor

M/S : MUBARAK EGGS AGENCY

Prop : MUBARAK MUSHATAK SHAIKH


M/S : MUBARAK EGGS AGENCY
Prop : MUBARAK MUSHATAK SHAIKH
Address : C/O AMINA KHATUN KHAN, S R NO 115/1/6, GURU KRUPA COLONY, NEAR MANE
SCHOOL AND HANUMAN SUPER MARKET KALEWADI HAVELI, PUNE, 411018
Balance Sheet as on 31st March 2023

Liabilities Amount (Rs.) Assets Amount (Rs.)

CAPITAL 4,23,046 FIXED ASSETS 1,37,129


(Schedule-1) (Schedule-2)

SECURED LOANS INVESTMENTS


Gold 80,000

CURRENT LIABILITIES CURRENT ASSETS


Sundry Creditors 32,542 & LOANS & ADVANCES
Sundry Debtors 1,24,635
Cash Balance & Bank Balance 1,13,824

4,55,588 4,55,588
As per information given to us by Proprietor

M/S : MUBARAK EGGS AGENCY

Prop : MUBARAK MUSHATAK SHAIKH


M/S : MUBARAK EGGS AGENCY
Schedule-2 Prop : MUBARAK MUSHATAK SHAIKH
Depreciation as per Income Tax Act
Asst - Year : 2023-2024

Additions Additions
WDV As on used >=180 used <180 Total WDV as on
SR.NO Fixed Asset Rate% 01/04/2022 days days Deletions Depreciation 31-Mar-2023

1 Motor Cycle 15 50277.5 7541.625 42735.875

2 Furniture 10 72308.65 10846.2975 61462.3525

3 Mobile 15 17049.3 2557.395 14491.905

4 Computer 15 21692.85 3253.9275 18438.9225

Total 161328.3 24199.245 137129.055

M/S : MUBARAK EGGS AGENCY

Prop : MUBARAK MUSHATAK SHAIKH


M/S : MUBARAK EGGS AGENCY
Prop : MUBARAK MUSHATAK SHAIKH
Capital Account as on 31st March 2023

Particulars Amount (Rs.) Particulars Amount (Rs.)


To Drawings 6,51,442
By Capital b/d 4,05,510
By Net Profit transferred 6,68,978
from Profit & Loss Account

To Balance c/d 4,23,046

10,74,488 10,74,488

M/S : MUBARAK EGGS AGENCY

Prop : MUBARAK MUSHATAK SHAIKH

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