ANOVOA limited company provides the following details for the year ended June 30, 2018 Income from Business8,000,000
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Question:
ANOVOA limited company provides the following details for the year ended June 30, 2018
Income from Business8,000,000
Income from dividend 100,000
Income from property rented out 5,000,000
Insurance premium paid on property 400,000
Rental income paid to H.B.F.C 80,000
Ground rent paid 500,000
Repair expenditures 700,000
Muncipal tax paid 1,000,000
Unrealized rent 1200,000
Calculate the total income and tax payable by the company.
Note:
1. Company is an active tax payer
2. Company has made all possible efforts but failed amount which is now claimed as unrealized rent.
3. Advance tax withheld @ 15 % of gross tax by tenant.
Note: country is PAKISTAN
(every calculation must show)
Posted Date: