- Opening stock of raw material and closing stock of finishicd goods Opening stock of raw maicrial and closing Rs. 10,000 and Rs 20,000 respectively. - Import during the year Rs. 500,000, Custom dury to Rs. 40,000 and afministrative expenses Rs. 25,000 . Rryuirod z Coat of trading goodi. (I) 12. Orven in the numuarucd statement of cash pertaining wo a lawyer for a. Water/electricity expenses are used equality for professional and personal purpose b. Office expenses include Rs. 10,000 paid to domestic helper. c. Bad debts recovered amount Rs. 5,000 is not shown in receipt side. d. Gain on sales of non -chargeable business assets. Rs. 10,000 is not shown in account. e. Outstanding office rent Rs. 20,000 is yet to be paid. Required : a. Assessable (Net) income from profession b. Statement of taxable income c. Tax liability [6+2+2] - Opening stock of raw material and closing stock of finishicd goods Opening stock of raw maicrial and closing Rs. 10,000 and Rs 20,000 respectively. - Import during the year Rs. 500,000, Custom dury to Rs. 40,000 and afministrative expenses Rs. 25,000 . Rryuirod z Coat of trading goodi. (I) 12. Orven in the numuarucd statement of cash pertaining wo a lawyer for a. Water/electricity expenses are used equality for professional and personal purpose b. Office expenses include Rs. 10,000 paid to domestic helper. c. Bad debts recovered amount Rs. 5,000 is not shown in receipt side. d. Gain on sales of non -chargeable business assets. Rs. 10,000 is not shown in account. e. Outstanding office rent Rs. 20,000 is yet to be paid. Required : a. Assessable (Net) income from profession b. Statement of taxable income c. Tax liability [6+2+2]