Question
Zulekha is self-employed business women. She is a talented fashion designer. She designs for high profile women from the film industry and also women belonging
Zulekha is self-employed business women. She is a talented fashion designer. She designs for high profile women from the film industry and also women belonging to top business houses. She enjoys a good reputation in the fashion industry and is a name to reckon with. Her income from self-employment was 141,850 for year 2018/19. Dynamic Fashion Institute has also employed her part time to train their students and have paid her 4,000 for the tax year 2018/19. She does not have any savings or dividend income. She has also made a charity payment of 16,000 (net) under the gift aid scheme. i. Calculate Zulekha's Taxable Income for the year 2018/19. (5 marks) ii. Calculate Zulekhas income tax liability for the year 2018/19. (5 marks)
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