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Compute Tax payable by Mr. Arshad Mehmood, who received following emoluments during the tax year ended on 30th June 2020; o Basic Salary (30,000-5,000-65,000)
Compute Tax payable by Mr. Arshad Mehmood, who received following emoluments during the tax year ended on 30th June 2020; o Basic Salary (30,000-5,000-65,000) o Concessional Loan obtained from employer @ 8% p.a . Rs. 3,000,000/- o Free accommodation provided by the employer. He was entitled to a house allowance of Rs. 288,000/- if such accommodation was not provided. o Cost of motor vehicle provided by employer partly for personal and official use . o Bonus Provided . o Medical Allowance provided. o Entertainment Allowance o Travelling Allowance o Utilities Allowance o Overtime . o Mr. Arshad Mehmood paid donation for charitable purposes to an institution recognized by FBR. o Deduction of tax by the employer at source amounting. .Rs. 3,366/- (10) .Rs. 40,000/- P.M. .....Rs. 1,400,000/- Rs. 212,000/- ..Rs. 50,000/- Rs. 350,000/- Rs. 75,000/- Rs. 250,000/- Rs. 200,000/- ........... ...... .Rs. 120,000/- Note: 1. Consider tax rate @ 5% for the taxable income exceeding Rs. 1,200,000/-
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