From the following information provided for the previous year 2017-18, compute the total income and tax liability considering provisions of Alternate Minimum Tax assuming the assessee is an individual : Particulars Amoun

Computation of Total Income and Tax Liability for AY 2018-19 Particulars Amount (₹) Net Profit as per Profit & Loss A/c 19,05,000 Add: Inadmissible Expenses 1,40,000 Add: Depreciation as per P&L A/c 3,50,000 Less: Depreciation as per Income Tax Rules (3,60,000) Total 20,35,000 Less: Deduction u/s 10AA of Income Tax Act (12,00,000) Business Income 8,35,000 Less: Deduction u/s 80IA of Income Tax Act (35,000) Net Total Income 8,00,000 Tax Liability Particulars Amount (₹) (₹8,00,000 - ₹5,00,000) * 20% + ₹12,500 72,500 Add: EC + SHEC @ 3% 2,175 Total Tax Liability 74,675 Computation of Adjusted Total Income for Calculation of AMT 'Alternate Minimum Tax' Particulars Amount (₹) Total Income 8,00,000 Add: Deduction u/s 10AA 12,00,000 Add: Deduction u/s 80IA 35,000 Total 20,35,000 Tax on adjusted income (including cess) (18.50% + 3% on 18.50% = 19.055% of 20,35,000) 3,87,769 Tax Payable (Round off) 3,87,770 AMT Credit (₹3,87,770 - ₹74,675) 3,13,095