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Solve this question using income tax laws of Pakistan Its a question from income from property and we have to find tax liability Mr. Asim
Solve this question using income tax laws of Pakistan
Its a question from income from property and we have to find tax liability
Mr. Asim rented out his own house to Mr. Babar against a rent of Rs. 55,000/month. As per the terms Rs. 5,000/m is charged against rendering of utility & sweeper services. This Rs. 5,000 is included in Rs. 55,000. The actual expenditures incurred by Mr. Asim are: Repair of house Property tax of house 7,000/m Utility bills 2,100/m 1,800/m Sweeper wages 1,000/m His Income from business in current year is Rs. 900,000. Calculate his tax liability? Mr. Asim rented out his own house to Mr. Babar against a rent of Rs. 55,000/month. As per the terms Rs. 5,000/m is charged against rendering of utility & sweeper services. This Rs. 5,000 is included in Rs. 55,000. The actual expenditures incurred by Mr. Asim are: Repair of house Property tax of house 7,000/m Utility bills 2,100/m 1,800/m Sweeper wages 1,000/m His Income from business in current year is Rs. 900,000. Calculate his tax liabilityStep by Step Solution
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