M/S CONTINENTAL TRADERS,

Prev Year
521,912.72
5,522,453.11
102,245.41
591,666.56

To
To
To
To

6,738,277.80
24,075.00
60,000.00
64,027.94
12,080.00
1,259.90
20,996.50
894.00
18,884.00
0.00
10,000.00
5,943.00
6,277.00
0.00

GOMATHY BUILDINGS, M.C. ROAD, KOTTAYAM

TRADING AND PROFIT & LOSS ACCOUNT FOR THE PERIOD ENDED 31-03-2016
EXPENSES
Sch.
Curr. Year
Prev Year
INCOME
Opening Stock
6,156,637.99
By
Sales
as
per
Schedule
581,639.81
Purchases as per Schedule
IX
581,639.81 By Closing Stock
5,335,510.70
Freight
111,571.72
Gross Profit c/d
785,996.17
Total

To
To
To
To
To
To
To
To
To
To
To
To
To
To
8,166.85 To
8,110.00 To
354,692.22 To
595,406.41
88,887.00 To
250,000.00 To
15,805.22 To

Rent
Salary & Wages
Depreciation
Audit Fees
Bank Charges
Commission Paid
Office Expenses
Car Running Expenses
Printing & Stationery
Bonus Paid
Postage & Telegraph
Tax & Fees
Subscription & Periodicals
Accounting Charges
Interest Paid
Income tax paid
Net Profit c/d

354,692.22
Kottayam
26-07-2016

6,814,718.40

6,738,277.80

Total

Sch
X

Curr.Year
6,169,249.63
645,468.77

6,814,718.40

591,666.56 By Gross Profit b/d

3,739.85 By Discount Received

785,996.17
912.80

Interest on Capital
Salary to Partners
Share of Profit

25,440.00
106,000.00
54,418.10
12,825.00
1,217.86
15,539.00
1,300.00
51,409.00
300.00
0.00
5,506.00
5,320.00
240.00
30,000.00
0.00
9,941.00
467,453.01
786,908.97
156,012.45
289,162.78
22,277.79

595,406.41
354,692.22 By Net Profit b/d

786,908.97
467,453.01

TOTAL

467,453.01

354,692.22

467,453.01

TOTAL
As per our Report of even date attached
For Saju & Jose
Chartered Accountants

ANNAMMA ABRAHAM
Managing Partner

CA Saju C Kuruvilla
(Partner)
Mem No: 202601
FRN : 010860S

4,970.50 6683.335587

38066.832

311,440.57

6683.3356

311,440.57
11,440.57
6,864.34
276,864.34

6683.3356

M/S CONTINENTAL TRADERS,

GOMATHY BUILDINGS, M.C. ROAD, KOTTAYAM
BALANCE SHEET AS AT 31ST MARCH 2016
Prev.Year

LIABILITIES

50,000.00 PARTNERS CAPITAL ACCOUNT

1,415,777.72 PARTNERS CURRENT ACCOUNT
CURRENT LIABILITIES & PROVISION
566,069.77 Sundry Creditors
25,979.00 Other Liabilities

2,057,826.49 Total
Kottayam
26-07-2016

Sch.

Curr.Year

50,000.00

II

1,717,556.73

III
IV

423,415.19
65,251.00

2,256,222.92

Prev.Year

ASSETS

363,101.36 FIXED ASSETS

Sch.

INVESTMENTS
183,000.00 Karappara Chitty Fund

581,639.81
211,045.05
691,450.27
27,590.00

CURRENT ASSETS
Closing Stock
Cash & Bank Balances
Sundry Debtors
Deposits & Advances

2,057,826.49 Total
As per our Report of even date attached
For Saju & Jose
Chartered Accountants

ANNAMMA ABRAHAM
Managing Partner

CA Saju C Kuruvilla
(Partner)
Mem No: 202601
FRN : 010860S

Curr.Year

308,683.26

405,000.00

VI
VII
VIII

645,468.77
174,266.02
689,574.87
33,230.00
2,256,222.92

M/S CONTINENTAL TRADERS,

Schedules annexed to Profit & Loss Account and Balance Sheet
Prev. Year

Curr. Year

Schedule I
Partners Capital Account
25,000.00 Mini Mathai
25,000.00 Annamma Abraham
50,000.00
Schedule II
Partners Current Account
722,569.35 Mini Mathai
693,208.37 Annamma Abraham
1,415,777.72 Total

2,683.57
28,407.00
1,938.20
5,000.00
12,306.00
458,663.00
37,422.00
3,650.00
6,000.00
10,000.00

Schedule III
Sundry Creditors
A A Associates, Chennai
Keertana Laminations
MP Agencies
Bijimol KK
Nimishine Enterprises
Darsan Agencies
Raj Laxmi Industrial Spares
Mahalakshmi Tape Agency
Mahadev Agencies
Jishnu Electricals & Electronics, Delhi

566,069.77 Sub Total

Schedule IV
Other Liabilities
25,979.00 VAT Payable
0.00 Accounting Charges Payable
25,979.00 Total
Schedule VI
Cash and Bank Balances
43,893.33 Cash in hand
Cash at Bank
167,151.72 State Bank of India
211,045.05 Total
Schedule VII
Sundry Debtors
580,359.20 Continental Trade Wings, Kottayam
6,365.67 Elcont Engineers, Kanjikuzhy
7,277.22 V&V Engineers & Electric Contractors
1,239.00 Vijayan Mariappally
41.00 Kumar Industries
6,297.38 J J Welding Transformers
29,017.30 Muriyanickel Brothers, Kottayam
60,853.50 Zamson Electricals
0.00 Swamy & Co., Kottayam
0.00 Swamy Electricals, Kottayam
0.00 Suraksha Power Solutions, Ettumannoor

25,000.00
25,000.00
50,000.00

919,837.96
797,718.78
1,717,556.73

27,827.64
0.00
1,938.20
0.00
4,304.00
363,260.00
0.00
3,650.00
7,288.00
15,147.35
423,415.19

35,251.00
30,000.00
65,251.00

40,642.80
133,623.22
174,266.02

512,955.66
92,976.34
1,734.60

0.00
0.00
4,601.52
0.00
0.00
848.96
11,775.14
52,962.65

0.00 N.K.Poduval & Co.

0.00 Agro Products Agencies, Olassa
691,450.27 Total

19,400.00
800.00
1,500.00
250.00
5,000.00
640.00
27,590.00

Schedule VIII
Deposits & Advances
Building Deposit
Telephone Deposit
Amco Batteries
Indira Vikas Patra
National Savings Certificate
Sales Tax Deposit
Total

1,341.06
10,378.94
689,574.87

19,400.00
800.00
1,500.00
250.00
5,000.00
6,280.00
33,230.00

Schedule IX
Purchases
594,123.02 Purchase 14.5%

621,090.32

4,885,490.09 Purchase 5%

4,714,420.38

42,840.00 Local 1%
5,522,453.11 Total

0.00
5,335,510.70

691,222.00
5,417,415.99
48,000.00
6,156,637.99

569135.74
0.00
25000.00
125000.00
45531.00
7902.61
722569.35

Schedule X
Sales
14.5% sales
5% Sales
1% Sales
Total

Mini Mathai
Balance b/d
Addition
Drawings
Salary to Partners
Interest on capital@12%
Share of Profit

760,802.86
5,408,446.77
0.00
6,169,249.63

722,569.35
20,000.00
63,000.00
144,581.39
84,548.32
11,138.89
919837.96

Annamma Abraham
597983.76 Balance b/d

693,208.37

0.00
81034.00
125000.00
43356.00
7902.61
693208.37

20,000.00
142,674.00
144,581.39
71,464.12
11,138.89
797718.78

Addition
Drawings
Salary to Partners
Interest on capital @ 12%
Share of Profit

Current Account
Opening
Drawings
Additions
Interest on Capital
Profit Share
Salary to partners
Closing

1,415,777.72
205,674.00
40,000.00
156,012.45
22,277.79
289,162.78
1,717,556.73

24

(a) Particulars of each loan or deposit in an amount exceeding the limits specified in Section 269SS
taken or accepted during the previous year.
Name, address and
amount of loan whether the loan or maximum amount
permanent account number(if
or deposit taken deposit was squared outstanding in the
available with the assessee)
or accepted
up during the
account at any time
of the lendor or depositor;
previous year
during the previous
year

NIL

(b)

Particulars of each repayment of loan or deposit in an amount exceeding the limit specified in Section
269T made during the previous year:
Name, address and
amount of the
Maximum amount
permanent account number(if avail
repayment
outstanding in the
able with the assessee) of the
account at any time
payee
during the year

NIL
(c ) Whether a certificate has been obtained from the assessee regarding taking or accepting loan or deposit
or repayment of the same through an account payee cheque or an account payee bank draft [Yes/No]
YES
25 Details of brought forward loss or depreciation allowance, in the following manner, to the extent available;
a)
Sl no.
Assessment Year
Nature of loss/
Amount as
Amount as
allowances
returned
assessed
NIL

(b)

Whether a change in shareholding of the company has taken place in the previous
year due to which the losses incurred prior to the previous year cannot be allowed
to be carried forward in terms of section 79

26

Section-wise details of deductions, if any admissible under chapter VIA

27

(a) Whether the assessee has complied with the provisions of chapter XVII-B
regarding deduction of tax at source and regarding the payment thereof to the credit
of the central Government
[Yes/No]
(b) If the provisions of chapter XVII B have not been complied with,
please give the foillowing details, namely
i) Tax deductible and not deducted at all
ii) shortfall on account of lesser deduction than required to be deducted
iii) Tax deducted late
iv) Tax deducted but not paid to the credit of the Central Government

cified in Section 269SS

whether the loan or deposit
was taken or accepted
otherwise than by an account
payee cheque or an account
payee bank draft

limit specified in Section

whether the repayment was
made otherwise than by accou
nt payee cheque or account
payee bank draft

ccepting loan or deposit

nk draft [Yes/No]

manner, to the extent available;

Remarks

NO

NIL

YES

Annexure I
PART A
1
2

Name of the assessee

Address

3
4
5
6

Permanent Account Number

Status
Previous year ended
Assessment year

STANDARD CHEMICALS
CHEMPAKASSERIL BUILDING
KARUKACHAL ROAD, MANGANAM P O
KOTTAYAM
AAWFS 0527 Q
PARTNERSHIP FIRM
31-03-2013
2013-14
PART B

Nature of
Business
Sl No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

Place
Date

RETAIL TRADE OF RUBBER CHEMICALS

Parameters
Paid up Share Capital/ Capital of partner / Proprietor
Share Application money/ Current account of partner
or proprietor, if any
Reserves and Surplus/ Profit & Loss Account
Secured Loans
Unsecured Loans
Current liabilities and provisions
Total of Balance Sheet
Gross Turnover/ Gross Receipts
Gross Profit
Commission Received
Commission Paid
Interest Received
Interest Paid
Depreciation as per Books of Accounts
Net Profit (or loss) before tax as per Profit and Loss
Account
Taxes on income paid/ provided for in the Books

Kottayam
26-07-2016

Code

202

Current Year
50000.00
1717556.73

Preceeding year
50000.00
1415777.72

#REF!
#REF!
488666.19
#REF!
6169249.63
785996.17

#REF!
#REF!
592048.77
#REF!
6156637.99
591666.56

#REF!

#REF!

#REF!
54418.10
467453.01

#REF!
64027.94
354692.22

0.00

0.00

M/S CONTINENTAL TRADERS,

Annexure-II
Schedule - V
Schedule of Fixed assets and Depreciation

Particulars

WDV as on
01.04.2015

Furniture
Electrical Installation
Tools & Machinery
Motor Car-Micra
Computer

1,082.89
16.06
951.44
361,033.55
17.42

Grand Total (A) + (B)

363,101.36

Additions
Less than
Others
180 days
0.00
0.00
0.00
0.00
0.00

Date put to
use

Amount on which
depreciation
is claimed

0.00
0.00
0.00
0.00
0.00

1,082.89
16.06
951.44
361,033.55
17.42

0.00

363,101.36

Rate
%
10.00
10.00
15.00
15.00
60.00

Depreciation
less than
180 days
others

Depreciation
for the
year

WDV as on
31.03.2016

0.00
0.00
0.00
0.00
0.00

108.29
1.61
142.72
54,155.03
10.45

108.29
1.61
142.72
54,155.03
10.45

974.60
14.45
808.72
306,878.52
6.97

0.00

54,407.64

54,418.10

308,683.26

M/S STANDARD CHEMICALS

GOMATHY BUILDINGS, M.C. ROAD, KOTTAYAM
STATEMENT OF TOTAL INCOME FOR THE ASSESSMENT YEAR 2015-16
PREVIOUS YEAR ENDED 31-03-2015
PAN AAWFS 0527 Q
Status: Partnership Firm
INCOME FROM BUSINESS
Net Profit as per Profit & Loss account
Add: Inadmissible Expenses Debited to P & L a/c
Depreciation considered Separately
Income Tax
Less: Depreciation as per IT Rule
Interest on Capital to partners
Balance Profit
Salary to Partners allowable u/s 40

467453.01
54418
12825

534696.11

54418
156012
324266
289163

Income under the head Profits & Gains of Business

35103

Gross Total Income

35103

Less Deduction under Chapter VIA

Total Income

35103

Tax Due
Total
Education Cess
Total Tax Payable

10531
10531
316
10847

Total Tax liability

10847

Kottayam
26-07-2016

Schedule XI
INTEREST TO PARTNERS
12.00
Mini Mathai
Capital
Current A/c Opening Balance
Add:Additions
Less: Drawings

Amt.
25,000.00
722,569.35
20,000.00
63,000.00
704,569.35

Interest @ 12%

84,548.32

Annamma Abraham
Capital
Current A/c Opening Balance
Add: Additions
Less: Drawings

25,000.00
693,208.37
20,000.00
142,674.00
595,534.37

Interest @ 12%

71,464.12
TOTAL

156,012.45

Schedule XII
REMUNERATION TO WORKING PARTNERS
Particulars
Net Profit as per P&L A/c
Add: IT paid debited in P&L A/c
10% of vehicle running expenses attributable to personal use
Depreciation debited in P&L A/c
Less: Depreciation allowable as per IT Rules
Less: 10% Depreciation of car attributable to personal use
Less: Interest on capital
Book Profit
On the first 3,00,000 of book profit, 150000 or 90% of book profit
whichever is higher
On the balance profit @ 60%
Remuneration Payable as per Income Tax Act.
TOTAL

Amt.
467,453.01
9,941.00
5,140.90
54,418.10
54,418.10
5,415.50

69,500.00
536,953.01
49,002.59
156,012.45
331,937.97
270,000.00
19,162.78
289,162.78

37,359.69
11,207.91

126,978.66
144,581.39

CONTINENTAL TRADERS
THANNICKAL BAZAR- KOTTAYAM
STATEMENT OF TOTAL INCOME FOR THE ASSESSMENT YEAR 2016-17
PREVIOUS YEAR ENDED 31-03-2016
AABFC7314E
Status: Partnership Firm
INCOME FROM BUSINESS
Net Profit as per Profit & Loss account
22,277.79
Add Inadmissible Expenses Debited to P & L a/c
Income Tax Paid
9941
10% Vehicle Running Expenses considered as personal
5140.9
Provision for Income Tax
Salary to partners
289,162.78
Interest on capital
156,012.45
Depreciation considered Separately
54,418.10 514675.2247
536,953.01
Less Depreciation as per IT Rule
Less:10% Depreciation of car attributable to personal use
Interest on Capital as per IT rules
Mini Mathai
Annamma Abraham
Balance Profit
Salary to Partners as per IT rules
Mini Mathai
Annamma Abraham

54,418.10
5,415.50

84,548.32
71,464.12

144,581.39
144,581.39

49,002.60

156,012.45
331,937.97

289,162.78

Profit from Business

Gross Total Income
Less Deduction under Chapter VIA

42,775.19
42,775.19
0

Total Income

42,775.19

Tax Due
Education Cess and higher Secondary Cess
Tax Payable
Interest u/s 234B
Interest u/s 234C
Balance Tax and Interest Payable

12,832.56
384.98
13,217.53