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Re: ::: vuaskari.com ::: FIN 623 Assignment






















On Tue, May 14, 2013 at 2:05 AM, Waqas Ahmed Tanoli <waqasahmedtanoli@gmail.com> wrote:

Profit received by a non-resident  person on security issued by resident person who is the associate to non-resident person.

Section 46

Any profit received by a non – resident person on a security issued by a resident person shall be exempt

from tax provided


.




Mr. Hassan has been given a

scholarship by the Associate to meet the cost of his education

Section 47

Any scholarship granted to a person to meet the cost of person's education shall be exempt from tax





Mr. X has divorced his wife and

paid Rs. 1,000,000 as support payment to live apart under an agreement

Section 48

Any income received by a spouse as support payment under an agreement to live apart shall be exempt

from tax under this Ordinance







Mr. Steve is a citizen of Canada.

He is working as Canadian ambassador, in Islamabad. Government of Pakistan has also appointed ambassador, in Canada. Canadian government grants exemption on salary of Pakistani ambassador.


Section 43


Salary of an employee of foreign government exempt provided:

a. Employee citizen of foreign country and not a citizen of Pakistan.

b. Services performed are similar to services performed by employees of the Federal Government in

foreign countries and

c. Foreign government also grants similar exemptions to employees of Federal Government










Government of Punjab owned a
Marble factory in Khyber Pakhtunkhwa (KPK). Income earned by Punjab government from the marble factory?

Section 49


Income of Federal Government exempt from tax






Ascertain the normal tax year or special Tax year:

Normal Tax Year starts from 1st July and ends on 30th June (a period of twelve months).

A tax payer can adopt a special Tax year after seeking approval from Commissioner of Income Tax (CIT),














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--
We say, "Be one as Pakistani Nation and grow up for Pakistan's Future". Wish you all the best. Join www.vuaskari.com,
To post to this group, send email to vuaskari_com@googlegroups.com
Visit these groups:
This (Main) Group:http://groups.google.com/group/vuaskari_com?hl=en?hl=en
MIT/MCS Group: http://groups.google.com/group/vu_askarimit?hl=en?hl=en
HRM Group: http://groups.google.com/group/askari_hrm?hl=en?hl=en
Banking Group: http://groups.google.com/group/askari_banking?hl=en?hl=en
Management: https://groups.google.com/group/vuaskari_mgt?hl=en
Marketing: https://groups.google.com/group/vuaskari_mkt?hl=en
MIS Group: http://groups.google.com/group/askari_mis?hl=en
 
 

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