Moon Star (Pvt) Ltd. which is an active tax payer company, provides following details for the...

 

Transcribed Image Text:

Moon Star (Pvt) Ltd. which is an active tax payer company, provides following details for the year ended 30 June, 2020; Property (05) o Income from rented out. 64,505,650/- Income from Business. 21,150,000/- Income from Dividend. 1,510,000/-o Insurance premium paid on - 1,200,000/- o Rent Collection Charges property. 4,870,339/- o Rental Income paid to HBFC. 2,500,000/-o Ground Rent paid 1,475,000/- Municipal tax paid 500,000/- Unrealized Rent 3,250,000/- Calculate the total income and tax payable by the company. Note: 1. Consider tax rate for income from property and business @ 29% and for dividend 15% 2. Advance tax withheld @ 15% of gross tax by tenant. 3. Company has made all possible efforts but failed to collect the amount which is now claimed as unrealized rent. Moon Star (Pvt) Ltd. which is an active tax payer company, provides following details for the year ended 30 June, 2020; Property (05) o Income from rented out. 64,505,650/- Income from Business. 21,150,000/- Income from Dividend. 1,510,000/-o Insurance premium paid on - 1,200,000/- o Rent Collection Charges property. 4,870,339/- o Rental Income paid to HBFC. 2,500,000/-o Ground Rent paid 1,475,000/- Municipal tax paid 500,000/- Unrealized Rent 3,250,000/- Calculate the total income and tax payable by the company. Note: 1. Consider tax rate for income from property and business @ 29% and for dividend 15% 2. Advance tax withheld @ 15% of gross tax by tenant. 3. Company has made all possible efforts but failed to collect the amount which is now claimed as unrealized rent.

Answer rating: 100% (QA)

Ans To calcu... View the full answer