Net Profit of Honey Sugar Ltd. Jalgoan for the year ended 31.03.2023 is Rs.8,60,000 after charge of the following expenses to Profit and loss account :
(i) Interest on loan payable to SBI of Rs.45,000 (shall be paid on 10.10.2023)
(ii) License fees to Maharashtra Govt. of Rs.50,000 (was paid on 25.05.2023)
Honey Sugar Ltd. during the previous year 2022-23, made payments of the following expenses pertaining to earlier years which have not been debited to Profits & loss account for the period 01.04.2022 to 31.03.2023:
(i) Interest on loan payable to SBI of Rs.30,000 for the P.Y. 2021-22 (was paid on 10/10/2022)
(ii) License fee to Maharashtra Govt. of Rs.60,000 for the P.Y. 2021-22 (was paid on 25.5.2022)
Compute the total income of Honey Sugar Ltd. for A.Y. 2023-24 by taking that due date for submission of return of income (ROI) is Sept.30th of the A.Y.
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