Calculate the assessable income from profession, considering professional receipts and allowable professional expenses, including adjustments for bad debts recovered.

Here's the solution to your accounting problem: a. Assessable (net) income from profession To calculate the assessable income from profession, we need to consider all professional receipts and deduct all allowable professional expenses. Professional Income: Receipt from script playing: Rs. 700,000 Receipt from dance training program: Rs. 300,000 Consultation fees after TDS: Rs. 300,000 Other professional incomes: Rs. 75,000 Adjustment (iii):* Bad debts recovered (Rs. 5,000) were not allowed for deduction previously, so they are not taxable now.