10-5

From the following receipts and payments a/c of Mr. Arif Khan, an income tax practitioner, calculate income from profession:

Receipt and Payment A/c

For the year ended on 30^th June,2019

Receipts	tk	Payment	tk
Balance B/D	350,000	Office and administrative exp.	60,000
Fees from client	150,000	Salary to staff	70,000
Presents from client	40,000	repairs	8,000
Interest on Bangladesh savings certificate	22,500	Interest on loan for business	12,000
Rent from let out property	75,000	Income tax	6,000
Share of profit from a firm	12,500	Purchase of car (01.01.15)	150,000
		Balance c/d	344,000
	650,000		650,000