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Income Tax Return Summary 2024-25

The document contains the tax assessment details for Prakash Vinodbhai Khakhariya for the assessment year 2024-2025, including personal information, income sources, and tax computations. His gross total income is reported as Rs. 550,138, with a tax liability of Rs. 13,393, which is fully offset by a rebate and TDS, resulting in a refundable amount of Rs. 60. Additionally, it includes financial particulars of his business and details of capital gains and losses.

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0% found this document useful (0 votes)
5 views2 pages

Income Tax Return Summary 2024-25

The document contains the tax assessment details for Prakash Vinodbhai Khakhariya for the assessment year 2024-2025, including personal information, income sources, and tax computations. His gross total income is reported as Rs. 550,138, with a tax liability of Rs. 13,393, which is fully offset by a rebate and TDS, resulting in a refundable amount of Rs. 60. Additionally, it includes financial particulars of his business and details of capital gains and losses.

Uploaded by

sanenaanil
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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CODE NO.

: Z-81
NAME OF ASSESSEE : PRAKASH VINODBHAI KHAKHARIYA
PAN : JBHPK2602H
FATHER'S NAME : VINODBHAI SAVJIBHAI KHAKHARIYA
RESIDENTIAL ADDRESS : D-708, SUMANDARSHAN, KIG AVAS BUILDING-D, NEAR SINGANPORE
TAKI DEMART, SURAT, GUJARAT-395004
STATUS : INDIVIDUAL ASSESSMENT YEAR : 2024 - 2025
WARD NO : WARD 3(2)(1), SURAT/ FINANCIAL YEAR : 2023 - 2024
GENDER : MALE DATE OF BIRTH : 23/11/2000
EMAIL ADDRESS : prakashkhakhariya003@[Link]
RESIDENTIAL STATUS : RESIDENT
NAME OF BANK : KOTAK MAHINDRA BANK LIMITED
MICR CODE : 380485002
IFSC CODE : KKBK0000811
ADDRESS : AHMEDABAD- ASHRAM RD
ACCOUNT NO. : 9545932012
OPTED FOR TAXATION : YES
U/S 115BAC
RETURN : ITR-3 : ORIGINAL (FILING DATE : 27/06/2024 & NO. : 520182340270624)
IMPORT DATE : AIS : 27-06-2024 10:11 PM TIS : 27-06-2024 10:11 PM 26AS
: 27-06-2024 10:11 PM
COMPUTATION DATE : 26-11-2024 06:13 PM

COMPUTATION OF TOTAL INCOME

SALARIES 210081

LAXYA DIAMOND : 201-202, AKSHAR BUILDING, NANDU


DOSHI NI WADI, KATARGAM, SURAT, GUJARAT-395004
GROSS SALARY 260081
LESS: STANDARD DEDUCTION U/S 16(ia) 50000
TAXABLE SALARY 210081

PROFITS AND GAINS FROM BUSINESS AND PROFESSION 330513

PROFIT U/S 44AD - SALES


PROFIT DEEMED U/S 44AD @ 8% OF RS. 1172093 93767
PROFIT DECLARED U/S 44AD 330513
PROFIT (HIGHER OF THE ABOVE) 330513
CAPITAL GAINS 8333
SHORT TERM CAPITAL GAIN ON LISTED SECURITIES (STT 8333
PAID)
LONG TERM CAPITAL GAIN -929
LONG TERM CAPITAL LOSS C/F Rs. 929
INCOME FROM OTHER SOURCES 1211
BANK INTEREST INCOME 297
DIVIDEND FROM COMPANIES 704
TOTAL 1001
INCOME FROM LOTTERY 210

GROSS TOTAL INCOME 550138


TOTAL INCOME 550138
TOTAL INCOME ROUNDED OFF U/S 288A 550140

COMPUTATION OF TAX ON TOTAL INCOME


TAX ON RS. 300000 NIL
TAX ON RS. 241597 (541597-300000) @ 5% 12080
TAX ON RS. 541597 12080
TAX ON SHORT TERM LISTED SECURITIES U/S 111A RS. 8333 1250
@ 15%
TAX ON CASUAL INCOME U/S 115BB @ 30% ON RS. 210 63
13393
LESS : REBATE U/S 87A 13393

LESS TAX DEDUCTED AT SOURCE


SECTION 194BA: SECTION 194BA 63 63
-63

REFUNDABLE (63)
TAX REFUNDABLE ROUNDED OFF U/S 288B (60)

Previous Year Return Filing Details :


Date of Filing 21/07/2023
Return Income Rs. 440524

Financial Particulars of Business


Sundry creditors Nil
Total capital and liabilities Nil
Inventories Nil
Sundry debtors Nil
Cash-in-hand 480572
Total assets 480572

Balance Sheet (Regular books of account of business or profession are not maintained)
Sundry Debtors Rs. Nil Sundry Creditors Rs. Nil
Stock-in-trade Rs. Nil Cash Balance Rs. 480572.00

LOSSES TABLE
A.Y. HEAD LOSSES
BROUGHT SET-OFF CARRIED
FORWARD FORWARD
2024-25 Long Term Capital Loss - - 929

STATEMENT OF SHORT TERM CAPITAL GAIN ON LISTED SECURITIES (STT PAID)


Name of Company Date of Date of Sales Purchase Transfer Amount Capital
Purchase/ Sale/Year Price Cost Expenses received Gain
Year u/s 94(7)
or 94(8)
SHARES 2023-24 123680.00 115347.00 0.00 0.00 8333.00
Total 123680.00 115347.00 0.00 0.00 8333.00

STATEMENT OF LONG TERM CAPITAL GAIN ON LISTED SECURITIES


CAPITAL GAIN TAXABLE @ 10% (WITHOUT INDEXATION BENEFIT) [SECTION 112A) IS APPLICABLE]
Name of Company Date of Date of Sales Purchas Transfer Exempt Capital Actual FMV on
Purchas Sale/ Price e Cost Expense Gain Purchas Jan 31,
e/ Year Year (Deduct s e Cost 2018
ible)
SHARES 2023-24 8704.00 9633.00 0.00 0.00 -929.00 9633.00 0.00
Total 8704.00 9633.00 0.00 0.00 -929.00 9633.00 0.00

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