Calculate the assessable income from profession, including professional receipts and allowable expenses.

Here's the solution for part a) based on the provided image:

a. Assessable (net) income from profession

To calculate the assessable income from profession, we sum up all professional receipts and deduct all allowable professional expenses.

Professional Receipts:

• Legal fees: Rs. 695,000
• Gifts and present from clients: Rs. 350,000
• Consultation fees after TDS: Rs. 85,000
• Other professional incomes: Rs. 75,000
• Sales of old paper and journal: Rs. 5,000
  • Note on Adjustment (iii): Bad debts recovered (Rs. 5,000) were not allowed for deduction previously, so they are not taxable upon recovery. This amount is not included in professional income.
  • Note on Adjustment (iv): Gain on sales of non-chargeable business assets (Rs. 10,000) is not considered professional income.

Total Professional Receipts:

$$695,000 + 350,000 + 85,000 + 75,000 + 5,000 = 1,210,000$$

Less: Allowable Professional Expenses:

• Office expenses: Rs. 80,000
  • Less: Domestic helper (personal expense per adjustment ii): Rs. 10,000
  • Net Office expenses: Rs. 70,000
• Computer purchased (Capital expenditure