Problems and answers- Income From Profession
1. Dr.Ramesh is a Medical Practioner. He gives the following summary of cash book for the year ending 31-3-2025. To Balance To consultation fees To visiting fees To Gifts and Presents To sale of medicines To Dividends fro U.T.I To Life Insurance Maturity To Interest from National Defense Bonds 10,000 60,000 45,000 8,000 42,000 6,000 1,00,000 6,000 By Rent of Clinic By Purchase of Medicines By staff salaries By surgical equipment By motor car expenses By Purchase of motor car By household expenses By Closing Stock 18,000 38,000 24,000 40,000 8,000 1,40,000 7,000 2,000 Other Information: i. 50% of the motor car expenses incurred in connection with profession. C...