Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This is TAXATION QUESTION. Q.1)Mr. Mushtaq has salaried income of Rs. 80,000 per month (gross), he also has invested in business where he got annual

This is TAXATION QUESTION. Q.1)Mr. Mushtaq has salaried income of Rs. 80,000 per month (gross), he also has invested in business where he got annual profit of Rs. 250,000. a) IDENTIFY Mr. Mushtaq as SALARIED INDIVIDUAL or BUSINESS INDIVIDUAL(he cannot be both business and salaried individual) b) Justify Reason of a) a)Mr. Mushtaq is Salaried Individual b)Mr. Mushtaq is Business Individual c)His Salary income is less than 75% of his total Income d)His Salary income is more than 75% of his Total Income e)His Salary is more than 90% of Total Income Choose 2 options from these options and also give the required calculations and reason of choosing those 2 options.

and don't copy paste please country is PAKISTAN

the currency is pakistani rupees.

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

Stand Up To The Irs How To Handle Audit Tax Bill And Tax Count

Authors: Frederick W. Daily, Robin Leonard

1st Edition

0873373375, 978-0873373371

More Books

Students also viewed these Accounting questions

Question

differentiate the function ( x + 1 ) / ( x ^ 3 + x - 6 )

Answered: 1 week ago

Question

Additional Factors Affecting Group Communication?

Answered: 1 week ago