answer required FIN623- taxation management

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Marina khan

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Dec 28, 2010, 2:26:41 PM12/28/10
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 Mr. Khan Resident of Pakistan received salary from UK? His salary will be included in which of the following?

►       Pakistan source income

►       Foreign source income????????

►       Both Pakistan and foreign source income

►       None of the given options


Foreign Source Salary of Resident Individuals Sec. 102

(1) Any foreign-source salary received by a resident individual shall be exempt from tax if the individual

has paid foreign income tax in respect of the salary.




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Regards,
Marina khan
MBA 4TH FINANCE

mc090205074 Naseer Ahmad Nasir

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Dec 28, 2010, 2:45:32 PM12/28/10
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         Foreign source income



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Marina khan

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Dec 28, 2010, 3:00:02 PM12/28/10
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Mr. A is an employee of Government of the Punjab, his data for the year 2009 is given

below.

Salary Rs. 60,000 per month

Gratuity         Rs. 1,000,000

Tax deducted at source       Rs. 54,000

What will be the Mr. A's taxable income for tax year 2009?

►       774,000

►       720,000

►       1,060,000

►       1,720,000


On Wed, Dec 29, 2010 at 12:57 AM, Marina khan <damse...@gmail.com> wrote:

Which section define this 'Income tax depreciation is admissible only in respect of depreciable assets'.

►       Section 22(15)

►       Section 22 (11)

►       Section 23 A

►        Section 24

Tariqm

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Dec 28, 2010, 11:48:46 PM12/28/10
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On Wed, Dec 29, 2010 at 1:00 AM, Marina khan <damse...@gmail.com> wrote:

Mr. A is an employee of Government of the Punjab, his data for the year 2009 is given

below.

Salary Rs. 60,000 per month

Gratuity         Rs. 1,000,000

Tax deducted at source       Rs. 54,000

What will be the Mr. A's taxable income for tax year 2009?

►       774,000

►       720,000

►       1,060,000

►       1,720,000

gratuity is exempt of government employees and salary (60000*12) will be taxable income



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Tariqm
MBA 4th Semester
(Finance Group)

Mr.Usman

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Dec 29, 2010, 12:41:03 AM12/29/10
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Foreign source income.....is the right Ans


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     Mr  Usman Khan
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