We are here with you hands in hands to facilitate your learning & don't appreciate the idea of copying or replicating solutions. Read More>>
+ Link For Assignments, GDBs & Online Quizzes Solution
+ Link For Past Papers, Solved MCQs, Short Notes & More
Dear Students! Share your Assignments / GDBs / Quizzes files as you receive in your LMS, So it can be discussed/solved timely. Add Discussion
How to Add New Discussion in Study Group ? Step By Step Guide Click Here.
FIN623 Assignment No 02 Spring 2019 Solution & Discussion Due Date: 29-07-2019
TAXATION MANAGEMENT (FIN 623) Assignment 01
“Taxable Income and Tax Liability”
Mr. Farooq, the Punjab government employee had been deputed on the official task in Spain in 2000. He returned to Pakistan on September 2018 and remained in Pakistan for the period of 3 months to attend the wedding ceremony of his two cousins and to look after his mother who fell ill during this time. For the tax year 2019, following are the details of his incomes and other particulars: Rs.
1. Monthly basic salary 90,000
2. Utilities paid by employer 60,000
3. Monthly medical allowance 20,000
4. Additional allowance paid by the employer 50,000
For the tax year 2019, determine for Mr. Farooq’s: a) Residential status
b) Taxable income (5 Marks)
c) Tax liability (3 Marks)
You MUST provide all the calculations in DETAIL as each calculation carry marks.
You must mention the relevant section of the ITO 2001 for the tax year 2019 to support your calculations.
.+ 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)
Please Discuss here about this assignment.Thanks
Our main purpose here discussion not just Solution
We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions. Read More>>
Discussed & be touched with this discussion. After discussion a perfect solution will come in a result at the end.
P.S: Please always try to add the discussion in proper format title like “CS101 Assignment / GDB No 01 Solution & Discussion Due Date: ___________”
Share below link with friends for solution & Discussion. A Single link for help in your education.
Send solution FIle
need solution this assignment?????
i also need
FIN623 Assignment Solution Spring 2019
Medical Allowance exempt up to 10% of basic salary
I think 90000*10/100=9000
Monthly allowance =20000 - 9000= 11000*12=132000 will be include in taxable income
If both medical facility and medical allowance provided then facility exempt but Allowance fully taxable What you thinks