Le Coco (Pty) Ltd is not a small business corporation as defined. Its year of assessment...

 

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Le Coco (Pty) Ltd is not a small business corporation as defined. Its year of assessment ends on 31 January 2022 and its records show the following: Tax year Date of assessment 2019 2020 2021 2022 Taxable income R775 100 R702 130 R678 000 R748 400 11 January 2020 21 July 2021 30 October 2021 (estimated-not yet assessed) REQUIRED: Calculate the first and second provisional tax payments for the 2022 year of assessment for Le Coco (Pty) Ltd. Briefly explain why you selected the basic amount for each of the provisional tax payments and clearly state by which date the payments must be made. MARKS 13 Le Coco (Pty) Ltd is not a small business corporation as defined. Its year of assessment ends on 31 January 2022 and its records show the following: Tax year Date of assessment 2019 2020 2021 2022 Taxable income R775 100 R702 130 R678 000 R748 400 11 January 2020 21 July 2021 30 October 2021 (estimated-not yet assessed) REQUIRED: Calculate the first and second provisional tax payments for the 2022 year of assessment for Le Coco (Pty) Ltd. Briefly explain why you selected the basic amount for each of the provisional tax payments and clearly state by which date the payments must be made. MARKS 13

Answer rating: 100% (QA)

NOTE IT IS ASSUMED THAT THIS PROBLM BELONGS TO INDIAN INCOME TAX ACT AND TAX RATE IS 2517 BRIE... View the full answer