We have been working very hard since 2009 to facilitate in your learning Read More. We can't keep up without your support. Donate Now.


+ Link For Assignments, GDBs & Online Quizzes Solution


+ Link For Past Papers, Solved MCQs, Short Notes & More

Looking For Something at Site? Search Below

Semester “Spring 2017”
Assignment No. 01 Marks: 10
“Salary and its Computations”
Mr. Zahid had been working in Saudi Arabia since 2005. He was associated with an oil
company in the capacity of budget officer. Due to his family matters, he has recently
been shifted back to Pakistan. Here, he is working with a telecom joint as finance
officer. During the tax year 2017, he had to visit KSA for few weeks to settle his
business matters with the oil company. However, he managed to stay in Pakistan for 190
days. For the year, following are his income and other particulars:
1. Monthly basic salary 32,000
2. Utilities paid by employer 60,000
3. Bonuses 70,000
4. Monthly medical allowance 6,200
5. Driver’s monthly salary paid by employer 7,000
For the tax year 2017, determine for Mr. Zahid’s:
a) Residential status along with relevant section of ITO 2001 (2 Marks)
b) Taxable income (6 Marks)
c) Tax liability (2 Marks)
All necessary calculations and sections are required to be shown in assignment solution.

+ http://bit.ly/vucodes (Link for Assignments, GDBs & Online Quizzes Solution)

+ http://bit.ly/papersvu (Link for Past Papers, Solved MCQs, Short Notes & More)

+ Click Here to Search (Looking For something at vustudents.ning.com?)

+ Click Here To Join (Our facebook study Group)

Views: 223

Reply to This

© 2020   Created by +M.Tariq Malik.   Powered by

Promote Us  |  Report an Issue  |  Privacy Policy  |  Terms of Service