Computation of Gross Profits (See Rule 25 )

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....provision for : (a) Bonus to employees (b) Depreciation. (c) Direct taxes, including the provision (if any), for previous accounting years (d) Development rebate / investment allowance / development allowance reserve. (e) Any other reserves Total of Item No. 2……..             Rs…………     See foot....

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....ch which is allowed as a deduction under any law for the time being in force relating to direct taxes) and capital losses (other than losses on sale of capital assets on which depreciation has been allowed for income tax or agricultural income-tax.). (e) Losses of, or expenditure relating to, any business situated outside India. Total of Item No. 3………..       ....

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.... Deduct : (a) Capital receipts and capital profits (other than profits on the sale of assets on which depreciation has been allowed for income-tax or agricultural income-tax). (b) Profits of, and receipts relating to, any business situated outside India. (c) Income of foreign concerns from investment outside India. (d) Expenditure or losses (if any) debited directly to reserves, other ....

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....rectly or through any agency for specified purposes and the proceeds of which are reserved for such purposes. Total of Item No. 6       See foot -note (2) See foot -note (2) See foot -note (2) See foot -note (3)   See foot -note (2) 7. Gross Profits for purposes of bonus (Item No. 5 minus Item No. 6) Rs…………     Explanatio....