Ch 3 · Profits and Gains of Business or Profession (Sec 28-44)

🧮 Formula sheet

1. 1.Depreciation = Block of Asset value × Rate (Plant 15%, Building 10%, Computer 40%)
2. 2.Sec 43B: certain payments allowed only on actual payment (tax, PF, bonus, leave, interest to banks)
3. 3.Sec 40A(3): cash payment >₹10,000 disallowed