Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ms. Beenish has earns salary income of Rs.50,000/- per month in private company at Karachi, eventually Corona virus may cause lock down in entire country,

  1. Ms. Beenish has earns salary income of Rs.50,000/- per month in private company at Karachi, eventually Corona virus may cause lock down in entire country, therefore on month of March, she worked 15 days and got full salary. In the month of April, she did not work & also got full salary. In the month of May, she received half salary & unfortunately, from the month of June-2020, she is not going to received salary, however she remain an employee of the same company.
  2. Does she need to file her income tax return as she gets no salary in the month June-2020? Answer shall be in (Yes or No) with reason?
  3. Calculate her annual salary income as per tax year monthly wise?
  4. Salary & Business individual tax slab as follows:

Re.1/ to Rs.400,000/- No tax

Rs.400,001 to Rs.450,000/- Rs.1,000 tax

Rs.450,001 to Rs.500,000/- Rs.2,000 tax

Rs.500,001 to Rs.900,000/- Rs.9,000 tax

Mention her annual salary tax amount?

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

Alaskas Permanent Fund Dividend Examining Its Suitability As A Model

Authors: K. Widerquist, M. Howard

2nd Edition

0230112072, 9780230112070

More Books

Students also viewed these Accounting questions

Question

Recognize the legal aspects of franchising.

Answered: 1 week ago

Question

=+b) What do you conclude?

Answered: 1 week ago