Trading expenses Office expenses17. A, B, & C are equal partners in a trading fir, which does not fulfil the conditions of sec 184.P & L A/C for the year ending 31/03/2019Rs.Rs. Ps.Ps320000 Gross Profit275000Interest on bank3000025000depositRent of premises to CNet lossA. 1,00,000B. 1,00,00010000C.1,00,000Interest on CapitalA. 30000B. 30000C. 30000Salary to B60000Commission10000Advertisement Expenses20000Depreciation40000Total6,00,0006,00,000Trade Expenses include a payment of Rs. 40,000/- made in cash. The firm is eligible for depreciationRs. 50,000/- compute income from business of the firm and the amount taxable in the hands of thepartners.

Trading expenses Office expenses17. A, B, & C are equal partners in

1.	Trading expenses Office expenses17. A, B, & C are equal partners in a trading fir, which does not fulfil the conditions of sec 184.P & L A/C for the year ending 31/03/2019Rs.Rs. Ps.Ps320000 Gross Profit275000Interest on bank3000025000depositRent of premises to CNet lossA. 1,00,000B. 1,00,00010000C.1,00,000Interest on CapitalA. 30000B. 30000C. 30000Salary to B60000Commission10000Advertisement Expenses20000Depreciation40000Total6,00,0006,00,000Trade Expenses include a payment of Rs. 40,000/- made in cash. The firm is eligible for depreciationRs. 50,000/- compute income from business of the firm and the amount taxable in the hands of thepartners.
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