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Due Date: 03
July 2013   Maximum Marks: 20
Learning Objective:
  To develop an understating of taxation of salaried individuals and budget important
Part A:
Mr. Hassan is an employee of Airline Company. Following is the detail of his salary and
other receipts during the year ended on 30
June 2013:
Basic salary (45000-5000-90000)
Medical allowance  80,000
Special allowance  20,000
Overtime payment  80,000
Entertainment allowance  50,000
Zakat paid   37,000
Agricultural income  800,000
Dearness allowance  150,000
Concession loan availed form employer 6 %  1,000,000
Employer has provided vehicle for personal use costing  1,500,000
•  Free accommodation is also provided by the employer. He is entitled for
accommodation allowance at 50% of his basic salary.
•  02 Free passage tickets were provided by airline to its employee @ Rs. 50,000 per
•  Assume that Benchmark rate for tax year 2013 is 13%.
•  All the receipts are on annual basis except basic salary.
You should solve this assignment according to tax year 2013.
•  You are required to calculate his taxable income. Also show complete working
to support your values.
Part B:
You are required to fill the table according to budget 2013-2014. Write your answer in given table
very concisely. Your answer should only be in percentage of tax rate/ exemption/percentage of
Scenario   Before Budget 2013-2014
Tax rate/ exemption/concession
After Budget 2013-2014
Tax rate/ exemption/concession
General sales taxes
16%  17%
Concession to
researcher, scientist and
university teacher
Treatment of flying
allowance in  separate
block of income of
airline employees and
Initial concession of
depreciation on fix assets
Fixed tax for salaried
24 hours extra / grace period after the due date is usually available to overcome
uploading difficulties.  This extra time should only be  used  to  meet
the emergencies and above mentioned due dates should always be treated as
final to avoid any inconvenience.
•  Make sure to upload the solution file before the due date on VULMS.
•  Any submission made via email after the due date will not be accepted.
•  It is cheated or copied from other students, internet, books, journals etc.
Note related to load shedding: Please be proactive
Dear students!
As  you  know  that  Post  Mid-Term  semester  activities  have  been
started and load shedding problem is also prevailing in our country
now a days. Keeping in view the fact, you all are advised to post your
activities as early as  possible  without waiting for the due date. For
your convenience;  activity schedule  has  already been uploaded on
VULMS  for   the  current  semester,  therefore  no  excuse  will   be
entertained after due date of assignments, quizzes or GDBs.

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