Question
note: this is a qustion of business law and taxation please i need ans asap [ pakistan tax law] Mr. Ahmed is working in an
note: this is a qustion of business law and taxation please i need ans asap [ pakistan tax law]
Mr. Ahmed is working in an organization as Manager, in the pay scale 60,000-5,000-90,000. He furnished the following particulars of his income for the tax year June 30, 2021.
S.No. Particulars
1 Basic Salary Rs.80,000 per month.
2 Bonus equivalent to 30 days basic salary.
3 special Allowance Rs.20000
4 Cost of Living Allowance 10% of basic salary
5 He is provided Rent Free furnished accommodation. Annual rental value is 320000
6 He is provided a motor vehicle which he is using for official use. The vehicle was purchased on lease by the employer for Rs.2500,000.
7 Medical Allowance 10% of basic salary.
8 Medical reimbursement Rs.20,000.
9 He received entertainment allowance 5000 p/m
10 Travelling Allowance Rs.5,000 per month
11 Utilities Allowance Rs.15,00 per month.
12 cash award 20000
13 dividend Rs.30,000.
14 Gift received from father Rs.80,000.
15 Interest received from bank Rs.20,000.
16 Rental income 300000
17 Security deposit Rs.200,000.
18 Profit from registered firm 100000
19 Zakat Rs.20,000.
20 Donation to Bait-ul-Mal fund Rs.15,000.
Calculate total and taxable income and tax liability
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