Following is the Profit and Loss account of Vinod for the year ended 31st March, 2024: Particulars Amount (₹) Particulars Amount (₹) To Administrative expenses 1,50,000 By Gross profit 11,50,000 To Income-tax 45,000 By A

Computation of Total Income of Vinod for the AY 2024-25 Particulars Amount (₹) Income from Business & Profession Net profit as per Profit & Loss Account 6,75,000 Add: disallowed Expenses Income tax 45,000 Depreciation (as per P&L) 60,000 Interest paid to non-resident without TDS disallowed @ 100% (u/s 40(a)(i)) 30,000 Provision for bad debts 3,10,000 Life insurance premium (self) 30,000 Amount outstanding to MSME disallowed under section 43B(h) 25,000 11,75,000 Less: Income not taxable under this head: Agricultural income (exempt) (70,000) PPF interest credited to P & L account (exempt) (80,000) Less: Allowed Depreciation u/s 32 (52,000) Income from Business and Profession 9,73,000 Gross total income 9,73,000 Less: Deduction under section 80C (Life Insurance premium) (30,000) Total income 9,43,000 Note: Interest Paid to non-resident without deducting TDS is fully disallowed.