Mr. Anand, Benand and Cenand has given the following information relating to their income for the...
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Mr. Anand, Benand and Cenand has given the following information relating to their income for the year 30th June 2022. Mr. Anand Gross Income: 80 000 Total exempt income: 15 000 Allowable deductions: 23 000 Mr. Benand Gross Income: 120 000 Total exempt income: 25 000 Allowable deductions: 30 000 Mr. Cenand Gross Income: 210 000 Total exempt income: 40 000 Allowable deductions: 36 000 You are requested: (a). To calculate the Taxable income for the above 3 persons. (b). Find the amount of tax payable for the above 3 persons, assuming that all of them are resident individual taxpayers by using the given below tax table. Over Taxable Income (BWP) 0 48 000 84 000 120 000 156 000 Not Over 48 000-00 84 000-00 120 000-00 156 000-00 Tax on (BWP) 0 0 1 800 6 300 13 050 column 1 Tax (%) 0 5 on 12.5 18.75 25 Excess Mr. Anand, Benand and Cenand has given the following information relating to their income for the year 30th June 2022. Mr. Anand Gross Income: 80 000 Total exempt income: 15 000 Allowable deductions: 23 000 Mr. Benand Gross Income: 120 000 Total exempt income: 25 000 Allowable deductions: 30 000 Mr. Cenand Gross Income: 210 000 Total exempt income: 40 000 Allowable deductions: 36 000 You are requested: (a). To calculate the Taxable income for the above 3 persons. (b). Find the amount of tax payable for the above 3 persons, assuming that all of them are resident individual taxpayers by using the given below tax table. Over Taxable Income (BWP) 0 48 000 84 000 120 000 156 000 Not Over 48 000-00 84 000-00 120 000-00 156 000-00 Tax on (BWP) 0 0 1 800 6 300 13 050 column 1 Tax (%) 0 5 on 12.5 18.75 25 Excess
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I will calculate the taxable income and the amount of tax payable for Mr Anand Mr Benand and Mr Cenand based on the provided information and the given ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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