Question
Mr. Albert had taxable other income 17,500 and taxable capital gain on disposal of non-residential property was 29,000 for the tax year 2019-2020. His total
Mr. Albert had taxable other income 17,500 and taxable capital gain on disposal of non-residential property was 29,000 for the tax year 2019-2020. His total tax liability was
a.
11,620
b.
7300
c.
9620
d.
9300
A Company has earned profit of RO 27,200 during the year ended 31st December 2019. The ledger book overvalued the opening and closing inventory of RO 2,800 and RO 8,200 respectively. The taxable income of the company after correcting the inventory will be
a.
RO 32,600
b.
RO 16,200
c.
RO 38,000
d.
RO 21,800
Disposal proceeds of motor vehicles suitable for private use of an individual in UK will be a/an
a.
non-deductible asset
b.
deductible asset
c.
Chargeable capital asset
d.
Exempted capital asset
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