Compute the tax payable of Mr. Zubair who during the year ended 30th June 2018 enjoyed income from the following sources: (filer)

 Dividend from a private limited company 20% Rs. 9000

 Zakat paid Rs. 7000

 Profit on special deposit scheme10% Rs. 35000

 Income from property Rs. 450,000

 Gift from father Rs. 20000

 Income from business Rs. 570,000

 Agricultural income Rs. 22000

He has claimed the following amounts for rebate:

a. Personal legal expenditure Rs. 25000

b. Purchased shares of public co. listed in PSX Rs. 50,000

c. Tuition fee paid for his son Rs. 55,000

 d. Donation to Sindh University Rs. 50,000

Calculate Taxable income & Tax Payable for the year 2018. (10 Marks)

Answer rating: 100% (QA)

Taxable income Dividend from a private limited company Rs 9000 ... View the full answer