Thursday, March 16, 2017

Some important question solution of ITP Question 2011-2012.

Ans. No. 1 (a) vii. Assess income grater then 4 lac.

Ans. No. 2 (b) Installment of Advance income Tax date are-

1st Installment 15th September.
           
2nd Installment 15th December.
           
3rd Installment 15th March.
           
4th Installment 15th June.


Ans. No. 8.

Date-16-03-2017

The Deputy Commissioner of Taxes
Circle-55
Taxex Zone-03


Reg:    NAME
            e-TIN: ************/ Circle-55


Subject: Prayer for an extension of return submit time due to accounts have not been prepared.


Dear Sir,

I on behalf of the above assessee your honor to please extension to return submit time. If it's possible from your end our assessee will remain grateful to you.


Thanking you,
Yours Faitfully,

       S/d

(S Roy Chowdhury)
Authorized Representative

 
Ans. NO. 9. (H) (ii)
                      Assets (Tk.)               Liabilities (Tk.)             Capital (Tk.)
                   9,55,000/                          1,15,000/*                  8,20,000/-




Answer the Question No. 10.



Hasib & Co.
for the m/o 30 June-2012
Trading Accounts
Dr.



Cr.
Particulars Tk. Tk. Particulars Tk.
Opening                       236,800 Sales   1,860,000
Purchase                    1,187,400 Sales Return      (20,500)     1,839,500
Transport in                         31,000
(Less) Purchase Return                       (32,200)
       1,423,000 Closing         294,600
Gross Profit               711,100
       2,134,100     2,134,100






Hasib & Co.
Profit and Loss Accounts
for the m/o 30 June-2012
Dr.



Cr
Particulars Tk. Tk. Particulars Tk. Tk.
Office Exp.             21,600 Gross Profit        711,100
Electricity Exp.             16,600
General Exp.             31,400
Salary & Wages           386,200
Rent             30,400
Insurance               7,800
Repair & Maintanace             66,400
transport Out             20,000
Net Profit          130,700
          711,100        711,100






Hasib & Co.
Balance Sheet
As at 30 June-2012






Owner's Equity & Liabilities Tk. Tk. Property, Plant & Equipment Tk. 
Capital                    1,263,600 Cash at Bank          48,200
Add: Net Profit                       130,700 Debtors        389,600
Less: Withdrawls                     (120,000)        1,274,300 Building        500,000
Motor car        180,000
Payable           173,100 Furniture          35,000
Closing stock        294,600
       1,447,400     1,447,400


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