SKK Pvt. Ltd. has prepared its Statement of Profit and Loss as per Schedule III to the Companies Act, 2013. The net profit for the year ended 31st March, 2022 as per Statement of Profit and Loss was ₹ 220 lakh. Following

SKK Pvt. Ltd. has prepared its Statement of Profit and Loss as per Schedule III to the Companies Act, 2013. The net profit for the year ended 31st March, 2022 as per Statement of Profit and Loss was ₹ 220 lakh. Following are the details furnished: S. No. Particulars Amount (in lakh) (i) Provisions of income tax debited 50 (ii) Proposed dividend debited 40 Other expenses debited includes: (i) Provision for doubtful debts 10 (ii) Provision for warranty (Uncertain liability) 30 (iii) Penalty for infraction of law 11 (iv) Depreciation (It includes depreciation on revalued assets ₹ 100 lakh) 600 (v) Bank interest on term loan (Note: Actually paid during the previous year and upto filing of ITR u/s 139(1) was ₹ 65 lakh) 80 (vi) Expenses incurred on violation of section 40A(3A) 18 (vii) Expenses incurred but TDS not deducted up to the date of filing of ITR u/s 139(1) 10 You are required to compute book profit under section 115JB of the Income Tax Act, 1961 for the assessment year 2022-23.