Partnership Firms & LLPs Tax Return Application
| # | Particulars / Head of Income | IT Section | Rule / Provision | Amount (₹) |
|---|---|---|---|---|
| 1 | Gross Revenue / Turnover from Operations | Sec 28(i) | Gross Sales | |
| 2 | Less: Direct Cost of Sales & Operational Expenses | Sec 30-37 | Deductible | |
| 3 | Gross Operating Profit | Subtotal | Line 1 - Line 2 | |
| 4 | Less: Admin, Selling & Operating Overheads | Sec 37(1) | Deductible | |
| 5 | Less: Depreciation on Assets | Sec 32 | IT Rates | |
| 6 | Net Book Profit Before Tax (PBT) | Subtotal | Line 3 - L4 - L5 | |
| 7 | Add: Disallowances / Excess Remuneration | Sec 40(b)/40A | Add-back | |
| 8 | Less: Deductions under Chapter VI-A | Sec 80G/80JJAA | Deductions | |
| 9 | Net Taxable Business Income | Sec 2(45) | Line 6 + L7 - L8 | |
| 10 | Basic Income Tax Liability | Sec 115B | 30% Rate | |
| 11 | Add: Surcharge (If Income > ₹1 Crore) | Sec 115B | 12% if > ₹1 Cr | |
| 12 | Add: Health & Education Cess | Finance Act | 4% on Tax | |
| 13 | Total Gross Income Tax Liability | Total Tax | L10 + L11 + L12 | |
| 14 | Less: Prepaid Taxes (TDS Credits + Advance Tax) | Sec 199/208 | Tax Credits | |
| 15 | NET TAX PAYABLE / (REFUNDABLE) | Final Tax | Line 13 - Line 14 |
Your ITR-5 application record has been processed.