Computing the Tax Payable

Computing the Tax Payable

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Computing the Tax Payable Of Mr. Zubair Question

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Question Description

Compute the tax payable of Mr. Zubair who during the year ended 30th June 2018 enjoyed income from the following sources: (filer)

Dividend from a private limited company 20% Rs. 9000

Zakat paid Rs. 7000

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Profit on special deposit scheme10% Rs. 35000

Income from property Rs. 450,000

Gift from father Rs. 20000

Income from business Rs. 570,000

Agricultural income Rs. 22000

He has claimed the following amounts for rebate:

Personal legal expenditure Rs. 25000

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Purchased shares of public co. listed in PSX Rs. 50,000

Tuition fee paid for his son Rs. 55,000

Donation to Sindh University Rs. 50,000

Calculate Taxable income & Tax Payable for the year 2018. (10 Marks)

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Question Description

Compute the tax payable of Mr. Zubair who during the year ended 30th June 2018 enjoyed income from the following sources: (filer)

Dividend from a private limited company 20% Rs. 9000

Zakat paid Rs. 7000

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Profit on special deposit scheme10% Rs. 35000

Income from property Rs. 450,000

Gift from father Rs. 20000

Income from business Rs. 570,000

Agricultural income Rs. 22000

He has claimed the following amounts for rebate:

Personal legal expenditure Rs. 25000

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Purchased shares of public co. listed in PSX Rs. 50,000

Tuition fee paid for his son Rs. 55,000

Donation to Sindh University Rs. 50,000

Calculate Taxable income & Tax Payable for the year 2018. (10 Marks)

Computing the Tax Payable Of Mr. Zubair Question

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