admissible and inadmissable deductions

[bilalfca]

salam.
well faisal, u r right but one thing is missing in ur calculations, according to my knowledge, i.e., Lease Renatls are admissible deductions which should be deducted and Finance Charges should be added in Net Profit (Accounting Profit) along with other adjustments which u've elaborated.

Net Profit------------------------------------------- XXXX

Add Accounting depreciation ------------------------ XXX
Add finance charges on lease ----------------------- XXX
Add Capital Gains ---------------------------------- XXX

Less Tax Depreciation ------------------------------ (XXX)
Less Lease Rentals---------------------------------- (xxx)

Net Taxable income ---------------------------------- XXXX.

Regards.