Q.4-A (MAY-2013-IPCC-Taxation)(8 marks)

Q.4-A (MAY-2013-IPCC-Taxation)(8 marks)

For Mr. Mohit

AY 2013-14

Particulars	Rs	Rs
Income From house Property H1 H2	80000 (38000)	42000
Income From PGBP Ø  Textile Profit Less:- Current Years Loss Less: - B/s loss (To That extent) Ø  Chemical Bad debts recovered Less: - B/f Loss (To the extent) Ø  Share in Partnership firm Less:- Exempt	100000 (40000) (60000) 35000 (35000) 16550 (16550)	Nil Nil Nil
Income from Capital Gain Long term Loss Short Term Gain	- 60000	60000
Gross Total Income		102000
Less:- Deduction u/s 80C	10000	10000
Total income		92000

Amount of Loss carried Forward

Particulars	Rs
Long term capital Loss	(35000)
Loss of Textile Business	(35000)
Loss of Chemical Business	(15000)