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    Consolidated Question

    Uploaded by

    ruqayya muhammed
    Consolidated Question

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Consolidated Question

    Uploaded by

    ruqayya muhammed
    20 views2 pages
    Consolidated Question

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    © © All Rights Reserved

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    DOCX, PDF, TXT or read online from Scribd

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    Consolidated Question

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    20 views2 pages

    Consolidated Question

    Uploaded by

    ruqayya muhammed
    Consolidated Question

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Yasir is full time teacher and have salary with following breakup:

    Basic salary 70,000/month

    Utility allowance 7,000/month

    Medical allowance 8,000/month

    House rent allowance 31,500/month

    He is also earning PKR800,000 semi-annually from his consultancy.

    He has paid insurance of medical of PKR20,000/- and life insurance premium of PKR200,000/-

    Zakat of PKR60,000 is paid via cheque

    He has given property on rent at rental value of PKR60,000/- month and this property remained vacant
    for 3 months.

    His father purchased property in 2013 @ PKR1,000,000 gifted him in June 20, 2018 when market value
    of property was PKR4,000,000/-. He sold this property on June 18, 2021. Selling price was
    PKR7,000,000/-

    He sold precious coin at price of PKR20,000/- on 10 May 2021, whereas this coin was purchased at price
    of 15,000/- in 2015.

    He sold share of Listed company with following detail during the year:

    Purchase price: 15/share

    Sale price: 25/share

    Holding period of shares is 8 months, No of shares were #5000 share

    He earned profit of 20,000/- from bank account deposits where the amount of tax deducted by bank
    was 2,000/-

    He won the price bond of PKR300,000/- during the year.

    Advance tax deducted during the year is:

    On internet: 20,000/-, on salary PKR108,000/-

    Please compute income and tax payable.

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