CA/CMA Final DT Revision May/Nov 2024 | PGBP | CA Atul Agarwal AIR 1

Topics Covered -
Profits & Gains of Business and Profession
Taxation of Firm

Our Telegram Channel for Free Notes, Guidance & MOCK TEST SERIES -
AIR1CA Guidance & Notes - By Atul & Ajay Agarwal (AIR 1)

Our Website for CLASSES, TEST SERIES, QUESTION BANK & NOTES -

Our Youtube Channel for Detailed STRATEGY -

Subscribe our Channel @Atul Agarwal

[AtulAgarwal]

Section 35CCC - Limit is exceeding 25 lacs
(Typing Mistake in Concept Book)

[harshitaaggarwal]

Amendment for May 2025 - Remuneration to partners @2:24:10 :
Calculation of limit of remuneration :
On first earlier it was book profit or in case of loss = earlier it was 150000) or 90% of book profit, wev, is higher.
On balance book profit - 60% of balance book profit.

[cavedashreepadhye]

56:10 33AB
1:08:07 Scintific Research
1:14:26 Telecom Licence
1:20:39 Specified Business 35AD
1:30:26 Preliminary exp 35D
1:42:12 Bad Debts
2:17:58 Payment of Interest and Remuneration To Partners
2:37:12 MSMED
2:45:16 Construction Service contract
2:49:07 44A Spl provision for Trade Professional or similar
association
2:52:43 Maintenance of books

[susilsahoo]

Next time plz don't use oil papers for concept note bcz its reflecting from outside light and also problems in highlighting and writing in

[lalitagupta]

PGBP points and timeline


1) below will be taxable u/h PGBP
- assistance, grant, subsidy received by CG/SG related to b/p
- gift, benifit or perquisite from b/p

2) not Treated as speculative business following -
- hedging contract
- forward contract
- trading in derivatives/commodity derivatives

3) 12:23, 13:15, read points
13:44, 15:40, 16:32, must read

Depreciation on computer software, computer accessories, computer is 40%, not 25%

watch dep 18:25 - 33:35
see 38:45, see 43:50
see 49:40
watch from 49:40 - 52:09
see example given at 51:55

🍵 ☕ rubber
see red points only 57:30, 1:02:00,
see table 1:03:00, watch 1:03:00 - 1:06:00

see 1:06:19, see 1:06:45 (red pts only)

⭐⭐ scientific research 1:08:30 - 1:14:13

if scientific research asset is sold

⬇️ sale amt or deduction allowed
will be pgbp income

⭐ telecom 1:15:16 - 1:20:27 (5 min)

⭐⭐ 35AD 1:20:35 - 1:29:15 (9 min)
important business
- housing project under slum development scheme
- same under affordable housing scheme
- inland container depot
- warehousing for sugar or AP
- cross country pipeline of natural gas
- slurry pipeline for iron ore
- developing, Maintaining, operating new infra facility

if specified business asset is sold

sale amt will be taxable as PGBP

see 1:29:55

watch 1:30:23 - 1:35:00

⭐ see 1:37:30, 1:38:40, 1:39:45, 1:41:23

⭐⭐ watch 1:42:00 - 1:44:40 (skip provision of banks)

see 1:47:50, 1:49:20 just see pt 12 & 14, just see the chart 1:52:25

contribution to donation is not allowed under pgbp, allowed under deduction chapter

see 2:15:20, 2:17:00

⭐⭐⭐⭐ watch 2:17:30 -

[rushishah]

Section 37 01:49:40
Section 40(A)3 02:14:00
Section 40(A)2 02:11:30
Section 41Deemed Income 02:32:00
Section 43B 02:35:10
33AB 56:10 (Most Important)
Scientific Research 1:08:07
Telecom License 1:14:26
Specified Business 35AD 1:20:39
Preliminary expense 35D 1:30:26
Bad Debts 1:42:12
Payment of Interest and Remuneration To Partners 2:17:58
MSMED 2:37:12
Construction Service contract 2:45:16
44A Special provision for Trade Professional or similar association 2:49:07
Maintenance of books 2:52:43

[shivamsharma]

3 month back watching video as student, now watching as a CA ❤

[atifsiddiqui]

2:24:42 Amendment in sec 40(b)
Maximum Remuneration to partners
First 6 lakhs of book profit instead of 3 lakhs
3 lakhs instead of 1.5 lakhs

[xyz-rro]

When will the remaining revision videos of DT will be uploaded?
And please provide Capital Gain updated revision video too..waiting
thanks ❤

[harshitaaggarwal]

I like the way atul sir teaches with utmost simplicity. Best thing is he tells everything connected to a specific provision at the time of teaching it only rather than linking it afterwards which makes it easy to retain. Thank you sir.

[cmakunal]

1:29:35 To qualify for the deduction:
The agricultural extension project must incur expenditure exceeding ₹25 lakhs (excluding the cost of land or building).

This is part of the requirements for a project to be notified by the CBDT and approved by the Ministry of Agriculture.


Thus, projects with expenditures below ₹25 lakhs do not qualify for the deduction under this section.

[beleve]

Arey sir Afm ke videos upload kariye na. Kitna time hogya mera may meh attempt h abhi tak sir syllabus bhi nhi complete

[HarshKhandelwal-txgi]

2:17:22 Payment of Interest and Remuneration to partners by firm and LLP

[DineshKumar_Baskar]

3:14:33 ICDS Starts.
11:00 Depreciation starts

[VivekPadia-hl]

40(b) 2:17:23
Maintain BOA 2:52:30
115BBF PATENT 3:09:22

[jebingeorge]

11:03 dep
56:16 tea cofee rubber
1:06:19 petroleum or natural gas

1:08:06 scientific research
1:14:30 telecom spectrum
1:20:38 specified business
1:29:30 agriculture extension, skill development project, preliminary expenses
1:35:01 36, other deduction


1:49:58 general deduction
2:05:46 sec 40, disallowed deduction
2:17:21 int & remuneration to partners

2:54:22 tax audit

[radhikadanceandmusicstudy]

2:03:53 to
2:17:33to 2:32:31 = taxation of firm llp ->watch again in revn 2 if kuch smjh ni aata toh
2:34:07 to

[Its_Shobhit_Bansal.]

Ek baat main aaj tak nhi Bhaiya or Ajay Bhaiya apne examples mein jab kisi abroad ghoomne ki jagah ki baat aati h Thailand ka example hi kyu lete

[minalingle]

sec 32(2) kitni pyari chiz - unabsorbed depriciation, unabsorbed capital expenditure on sci research & family planning 😄

[ajaybhojwani]

MAJA Aagya sir 300K wale ke 40 Ghante se ache yeh 4 Ghante hai Radhe Radhe