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Re: ::: vuaskari.com ::: Re: fin623 imp query

HERE IS THE CALCULATION OF UR MCQ:

matured Defence Saving Certificates 60,000

Less:      encashed.                            70,00

                                                       =53000

basic salary =  300,00*12=360000

 

Add:                 53000

 taxable income=413000



On Mon, Jul 25, 2011 at 1:13 AM, Rameen Rameen <preetydoll.rameen6@gmail.com> wrote:

20. Mr.Kiani has received basic salary of Rs. 30,000 per month during the tax year 2009. He has received matured Defence Saving Certificates of Rs. 60,000 of which 7,000 were encashed. What will be  his taxable income?

► Rs. 960,000

► Rs. 4,13,000

► Rs. 6,50,000

► Rs. 110,000

 

calculation plzz





On Mon, Jul 25, 2011 at 9:10 AM, fariha maqbool <farihamqbl4@gmail.com> wrote:
Tax payer can opt to seek approval from CIT to charge lump sum payments received in a tax year at average tax rate of last three years. handouts page#59
maha see this reference

On Mon, Jul 25, 2011 at 9:05 AM, MAHA SHAH <maha.shah.askari@gmail.com> wrote:
2nd option is correct

Option to choose current or average of last 3 years tax rate




On Mon, Jul 25, 2011 at 7:01 AM, shanzay gull <shanzay.vu@gmail.com> wrote:
in case of lump sum receipt of income like golden hand shake the tax payer pays tax in
which way?

average of last 3 years tax rate
Option to choose current or average of last 3 years tax rate
Current tax rate
Previous year tax rate

in past paprs file, in one papr first option ios selected
and in secnd papr second option is selected.......:( 



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We are the ASKARIANS!!!! A Name of Quality


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