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Mr. Toor a Provincial Government employee of Pakistan was deputed on the official task in Florida in 2016. He returned to Pakistan in July
Mr. Toor a Provincial Government employee of Pakistan was deputed on the official task in Florida in 2016. He returned to Pakistan in July 2020 and remained in Pakistan for the period of 1 year. For the tax year 2021, following are the details of his incomes and other particulars: 1. Monthly basic salary 2. Bonus 3. Adhoc allowance 4. Furnished accommodation provided by employer 5. Utilities paid by employer 6. Monthly medical allowance 7. Additional allowance paid by the employer 8. Conveyance provided for personal use Value of car purchased by the employer 9. Interest-free loan taken from employer 10. Zakat paid 11. Investment in shares of a public company listed on Stock Exchange of Pakistan Requirement: For the tax year 2021, determine for Mr. Toor: a) Residential status b) Taxable income c) Tax liability (1 Mark) (6 Marks) (3 Marks) Rs. 120,000 90,000 50,000 200,000 80,000 50,000 150,000 2,150,000 4,000,000 50,000 100,000
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