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Mr. Asif, a Salaried Individual, has following information for the Tax Year 2020. His Annual Tax Certificate from Employer shows, Annual Gross Salaried Income of

Mr. Asif, a Salaried Individual, has following information for the Tax Year 2020.

  • His Annual Tax Certificate from Employer shows, Annual Gross Salaried Income of Rs. 950,000
  • His employer has deducted WHT under Section 149 (Salary of Employee) Rs. 17200.
  • His Mobile Tax Certificate shows WHT under Section 236 (Prepaid Telephone Card) Rs. 889.
  • He received share of Profit from Investment in a Business Rs. 150,000.
  • The details of his Personal Assets as follow:

Balances

June 30, 2019

June 30, 2020

Cash at Hand

50,000

50,000

Bank Account (Salaried)

121,000

159,000

Bank Account (Saving)

150,000

265,000

Prize Bond

255,000

255,000

Investment in Business

2,000,000

2,000,000

Property (Residential)

3,200,000

3,200,000

Calculate:

  • Total Income
  • Tax Chargeable (Annual Income Tax)
  • Admitted Income Tax (Remaining Tax Liability)
  • His estimated Personal Expenses (Reconciliation of Personal Assets)

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