Q.1. Mr. Daniel, a disable person, is an executive manager in a public company. He has furnished the following financial information for the period ended on June 30, 2021. Basic salary Rs. 1800,000 Pa PaBonus 548,000 Pa Medical allowance Rs. 236,000 Pa Hotel bill paid by company Rs. 126,400 Pa Employer contribution towards Recognized Provident fund (RPF) 100,000 Pa Interest to RPF credited @ 18% 30 Lottery Rs.800,000 Research allowance 15000 COLA Rs 112,000 Pa Rent free unfinished Accommodation Rs.132,000 Rs.336,000 PQ Cost of the vehicles for Personal use Rs. 1880,000 Utility allowance Rs ,000 Loan by company Rs.96 0,000. Dividend (net) 2500.Winning of Required: - (a) Total taxable income (b) Tax Liability

Q.1. Mr. Daniel, a disable person, is an executive manager in a public company. He has furnished the following financial information for the period ended on June 30, 2021. Basic salary Rs. 1800,000 Pa PaBonus 548,000 Pa Medical allowance Rs. 236,000 Pa Hotel bill paid by company Rs. 126,400 Pa Employer contribution towards Recognized Provident fund (RPF) 100,000 Pa Interest to RPF credited @ 18% 30 Lottery Rs.800,000 Research allowance 15000 COLA Rs 112,000 Pa Rent free unfinished Accommodation Rs.132,000 Rs.336,000 PQ Cost of the vehicles for Personal use Rs. 1880,000 Utility allowance Rs ,000 Loan by company Rs.96 0,000. Dividend (net) 2500.Winning of Required: - (a) Total taxable income (b) Tax Liability

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter20: Corporations And Parterships

Section: Chapter Questions

Problem 59P

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