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SEMESTER SPRING 2016
TAXATION MANAGEMENT (FIN623)
ASSIGNMENT NO. 01
DUE DATE: JULY 19, 2016
To develop an understanding on computation of taxable income and tax liability of salaried individual under related provisions of Income Tax Ordinance 2001 Objective
Mr. Ijaz is a government employee and resident individual of Pakistan. Following are the details about his income for the tax year 2016:
Basic salary (50,000 – 6,000 – 100,000)
Annual leave encashment
Utilities paid by employer
1. Un-furnished rent-free accommodation provided by the employer.
2. He is entitled to a medical allowance in addition to medical facility from his employer.
3. Motor vehicle provided partly for official and partly for personal use. Cost of vehicle to the employer was Rs 2,000,000.
4. Salary of driver Rs. 150,000 paid by employer.
5. Tax deducted at source is Rs. 200,000.
6. Zakat deducted at source is Rs. 60,000.
Determine total taxable income and tax liability of Mr. Ijaz for the Tax Year 2016
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80% easy ha baki py many abhe kam ni keya
Imran did you solve assigment
plzz check this solution & point out the errors
I think Accommodation we have take minimum of MTS and conveyance allowance is 10,000 monthly is given so it will be 120,000........what is your opinion.
accommodation allowance ko kaisay treat kerain gay
accommodation ki koi amount ni di hoi
if it is not given then minimum of MTS we have to take I believe means (50,000*12)
O God.. Please help...