Profits and Gains of Business or Profession (PGBP)

Actual Cost & Written Down Value [Sec. 43(1) & 43(6)]

Actual Cost of Asset under Section 43(1)

Additional Depreciation under Section 32(1)(iia)

Adjustment of foreign exchange rate changes to cost of asset – Section 43A

Bad Debts [Sec. 36(1)(vii)]

Block of Asset & WDV Calculation under Section 32

Block of Assets Method & Additional Depreciation [Sec. 2(11), 32(1)(iia)]

Building Expenses [Section 30] & Apportionment [Sec. 38(1)]

Capital Gain/Loss on Sale of Depreciable Assets

Cash Payments [Section 40A(3) and 40A(3A)]

Certain deductions allowable only on actual payment basis – Section 43B (including MSMED 43B(h))

Charging Section — Section 28

Common rules for presumptive sections (44AD/44ADA/44AE)

Composite Business — Apportionment of Business & Agricultural Income

Composite Income — Business and Agricultural Income (Rules 7A, 7B, 8) and Replantation Allowance

Compulsory Maintenance of Books of Accounts [Section 44AA]

Compulsory audit of accounts – Section 44AB, forms, due dates and penalty (271B)

Compulsory maintenance of books of account – Section 44AA and Rule 6F

Computation of PGBP from P&L Account — Section 29

Deduction for Building Expenses [Section 30] & Apportionment [Sec 38(1)]

Deemed PGBP Income [Section 41]

Deemed Profits chargeable to tax – Section 41 (remission/cessation of trading liability, balancing charge, recovery of bad debts, set-off of expired losses)

Depreciation Calculation - Comprehensive Block of Assets Example

Depreciation Computation Format (Block-of-Assets WDV)

Depreciation — Conditions & Eligibility [Section 32]

Depreciation — Conditions, Assets & Rates [Section 32]

Depreciation — Power Undertakings, Terminal Depreciation & Balancing Charge

Disallowance for Non-Deduction of TDS [Section 40(a)(i) and 40(a)(ia)]

Disallowance of cash payments exceeding ₹10,000 – Sections 40A(3) and 40A(3A) and Rule 6DD exceptions

Disallowance of excessive/unreasonable payments to relatives and associates – Section 40A(2)

Disallowance of expenses relating to exempt income — Section 14A

Disallowance of provision for gratuity and contributions to unrecognised welfare funds – Sections 40A(7) and 40A(9)

Employee Contribution towards PF/ESI/SAF [Sec. 36(1)(va)]

Employer Contribution to Pension Scheme u/s 80CCD [Sec. 36(1)(iva)]

Expenditure on Promotion of Family Planning [Sec. 36(1)(ix)]

Expenditure on Specified Business under Section 35AD

Expenses Allowed on Actual Payment Basis [Section 43B]

General Deductions [Section 37]

Income Chargeable under PGBP [Section 28]

Interest and Remuneration to Partners [Section 40(b)]

Maintenance of Books of Accounts [Section 44AA]

Meaning of 'Business' and 'Profession' & Method of Accounting [Sec 2(13), 2(36), 145, 145B]

Method of Accounting [Section 145 & 145B] and ICDS

Other Deductions under Section 36

Other Points Relating to Depreciation (Personal Use, Forex, Power Generation, Unabsorbed Depreciation)

Payment to Specified Persons [Section 40A(2)]

Preliminary Expenses under Section 35D

Presumptive Taxation for Goods Carriages — Section 44AE

Presumptive Taxation of Business — Section 44AD

Presumptive Taxation of Professionals — Section 44ADA

Presumptive Taxation — Section 44AD (Small Business)

Presumptive Taxation — Section 44ADA (Professionals)

Presumptive Taxation — Section 44AE (Goods Carriage)

Presumptive taxation schemes – Sections 44AD (business), 44ADA (professions), 44AE (goods carriages)

Rates of Depreciation (Blocks)

Remuneration and Interest to Partners – Section 40(b) limits and taxability in partners' hands

Rent, Rates, Repairs & Insurance for Buildings — Section 30

Repairs & Insurance of Machinery, Plant and Furniture [Section 31]

Repairs and Insurance of Machinery, Plant and Furniture [Section 31]

Repairs and Insurance of Plant, Machinery & Furniture — Section 31

STT and CTT [Sec. 36(1)(xv) and 36(1)(xvi)]

Sale Consideration of Land & Building held as Stock-in-Trade [Section 43CA]

Scientific Research Expenditure under Section 35

Speculation Business [Explanation 2 to Sec 28; Sec 43(5)]

Speculation Business [Explanation 2 to Sec. 28 & Sec. 43(5)]

Speculative Business

Stamp Duty Value provisions on transfer of immovable property held as stock-in-trade – Section 43CA

Tax Audit [Section 44AB] and Penalty [Section 271B]

Tax Audit of Books of Accounts [Section 44AB]

VRS Expenditure under Section 35DDA