1. **Stating the problem:** Calculate Dr. Amitabh's net taxable income for the Assessment Year 2024-25 based on the provided Income and Expenditure Account and additional information. 2. **Identify total income:** Sum all income sources: Consultation Fees = 250000 Visiting Fees = 67000 Gift from Patients = 5000 Sale of Medicines = 19000 Dividend from Foreign = 30000 Total Income = 250000 + 67000 + 5000 + 19000 + 30000 = 371000 3. **Identify total expenditure:** Sum all expenses except Income Tax (which is not deductible) and Charity and Donations (which may be deductible under specific sections but not considered here for taxable income calculation): Salaries to Staff = 45000 Laboratory Expenses = 35000 Rent of Operation Room = 26000 Purchase of Medicines = 15000 Motor Car Expenses = 23500 Membership Fees = 500 Total Deductible Expenses = 45000 + 35000 + 26000 + 15000 + 23500 + 500 = 145000 4. **Calculate surplus before adjustments:** Surplus = Total Income - Total Deductible Expenses Surplus = 371000 - 145000 = 226000 Given surplus in account is 204500, which matches after considering non-deductible expenses. 5. **Adjust for non-deductible expenses:** Income Tax (9000) and Charity and Donations (12500) are not deductible, so subtract these from surplus: Adjusted Surplus = 204500 - 9000 - 12500 = 182000 6. **Calculate Gross Total Income (GTI):** GTI = Adjusted Surplus = 182000 7. **Calculate deductions under Chapter VI-A:** - Medical Insurance Premium paid to GIC (self, wife, children) = 15000 (eligible under section 80D) - Life Insurance Premium for son paid by cash = 55000 (only 10000 allowed if paid by cash, rest disallowed) - Investment in Mutual Fund units under section 80C = 40000 Total deductions = 15000 + 10000 + 40000 = 65000 8. **Calculate Net Taxable Income:** Net Taxable Income = GTI - Deductions Net Taxable Income = 182000 - 65000 = 117000 **Final Answer:** Dr. Amitabh's net taxable income for AY 2024-25 is **117000**.