Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mr. Ahmed is full time teacher in government school. Per month salary breakup is as follows: Basic salary PKR200,000/ Utilities PKR20,000/ Medical allowance PKR40,000/ He

Mr. Ahmed is full time teacher in government school. Per month salary breakup is as follows: Basic salary PKR200,000/ Utilities PKR20,000/ Medical allowance PKR40,000/ He earns PKR1,500,000/ per year from his consultancies. He won prize bond of worth PKR100,000/ during the year. He has paid donation of PKR10,000/ through the banking channel to the hospital being run and controlled by government Zakat deducted from the bank is PKR7,000/ Official vehicle is provided for personal use. Cost of vehicle is PKR750,000/

He has paid health insurance premium of PKR 18,000/ during the month Tax deducted by the employer is PKR53,000/ Compute income tax liability of Mr. Ahmed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

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

Auditing Trust And Governance Developing Regulation In Europe

Authors: Reiner Quick, Stuart Turley, Marleen Willekens

1st Edition

0415448905, 9780415448901

More Books

Students also viewed these Accounting questions

Question

Enhance the basic quality of your voice.

Answered: 1 week ago

Question

Describe the features of and process used by a writing team.

Answered: 1 week ago