Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

From the following information compute the income chargeable under the head Interest on Securities for Mr. Jewel for the income year 2016-17: Value of 15%

From the following information compute the income chargeable under the head Interest on Securities for Mr. Jewel for the income year 2016-17: Value of 15% tax-exempt govt. securities Tk. 30,000; Interest on tax-exempt govt. securities Tk. 10,000; Interest on taxable govt. securities Tk. 9,000; Value of 15% debenture Tk. 60,000; Interest on 10% debentures Tk. 9,000 and income from zero coupon bond -Tk. 2,000. The Bank has charged Tk. 1,500 for collecting the above interests. In addition to this he has taken a bank loan of Tk. 100,000 @6% interest to purchase the tax-exempt government securities.

Step by Step Solution

3.46 Rating (153 Votes )

There are 3 Steps involved in it

Step: 1

find t... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Document Format ( 2 attachments)

PDF file Icon
635fc43c4cb7e_233097.pdf

180 KBs PDF File

Word file Icon
635fc43c4cb7e_233097.docx

120 KBs Word File

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Business Reporting For Decision Making

Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver

4th Edition

978-0730302414, 0730302415

More Books

Students also viewed these Accounting questions

Question

Solve. x 2 + 16 = 0

Answered: 1 week ago