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Muscat Advertising company has four full time partners to provide advertising services. Three of them are engaged with full time with a salary of 4,500.

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Muscat Advertising company has four full time partners to provide advertising services. Three of them are engaged with full time with a salary of 4,500. (1) If the annual income of the business is 240,000, what is the deductible amount as per law. (2marks). (ii) What is the taxable income after deduction of salaries (2marks). (iii) If the total income of three partners is 18,000 what is the taxable income (1mark)

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