Income Tax Numerical Questions

Income Tax Numerical Questions Problem No. 1: From the following information compute the taxable income and tax payable by Mr. Suleman for tax year 2014:

1. 2. %. 4.

Baic Salary p.m. !. 20"000 #ommiion $0"000 &oue !ent 'llowance 24"000 #on(eyance pro(ided by employer for peronal ue. #ot of 'c)uiition 10" 00"000 $. *ntertainment 'llowance p.m. 1000 +. Medical 'llowance 2$"000 ,. Special 'llowance 10"000 -. Salary of peronal er(ant paid by employer 20"000 . Special pay 12"000 10. !eward for paing departmental examination 10"000 Problem No. 2: From the following information compute the taxable income and tax payable by Mr. '/ram for tax year 2014: 1. 2. %. 4.

Baic Salary 20"000  2000  40000 !. %" +0"000 Bonu ,2"000 #on(eyance 'llowance p.m. $"000 !ent !ent free furnihed furnihed accommodation accommodation i pro(ided pro(ided by the employer. employer. 3he accommodation allowance allowance will be !. 10"000 p.m. if thi accommodation wa not pro(ided to him. $. Medical Bill reimbured 10"000 +. &otel bill paid by company for pleaure trip 2"000 ,. rofeional boo/ purchaed $"000 -. 5nteret free loan ta/en from employer +" 00"000 . 6uali7cation pay 12"000 10 . 'd8hoc relief 'llowance %+"000 11. ic/ and drop facility pro(ided by employer $"000 12. Management coure fee paid by employer +"000

Note:

'ccording to term of employment" tax liability of Mr. '/ram hall be paid by employer empl oyer.. Problem No. 3:  9ou  9ou are re)uired re)uired to calculate the taxable taxable income and tax payable payable of Mr. Mr. 'li 'ge ; +2 year< wor/ing in a hotel:

1. 2. %. 4. $. +. ,. -. .

Baic Salary !. 4" -0"000 =earne 'llowance %0"000 !ent free furnihed accommodation i pro(ided by the employer. 888888888 #on(eyance pro(ided by employer for peronal and Buine ue. 10 " 00"000 Free Medical 3reatment 10"000 >unch Facility $"000 3ra(elling 'llowance %"000 >oan ta/en from employer ? ,@ >o +" $0"000 *mployerA co c ontribution to recognied pro(ident fund +0"000

10. 11. 12.

*)ual contribution by employee 5nteret on recognied pro(ident fund ? 1-@ Memberhip fee of a club paid by employer

8888888888 40"000 %+"000

Problem No.4:  9ou are re)uired to calculate the taxable income and tax payable of Mr. 'ad wor/ing a a reearcher:

1. Baic Salary !. +" 00"000 2. #ot of li(ing 'llowance 40"000 %. #ar pro(ided by employer for peronal and buine ue. #ot of ac)uiition of con(eyance i !. 12" 00"000. *mployer too/ thi #ar on leae bai and annual leae rent i !. 2" 00"000 4. >unch Facility 10"000 $. Special 'llowance gi(en by employer 1$"000 'ctual expene incurred in the performance of oCcial duty are !. 12"000< +. >oan ta/en from employer ? 10@ ," 00"000 ,. *mployerA contribution to un8recognied pro(ident fund 10"000 -. *mployeeA contribution to un8recognied pro(ident fund 10"000 . 5nteret on un8recognied pro(ident fund ? 20@ -"000 10. 5ncome from property p.m. 10"000 11. Dn8adEutable ad(ance recei(ed $0"000 12. #ollection charge 4"000 1%. ater charge 2"000 14. =onation under claue +1 chedule 55 $"000 Problem No. 5:  9ou are re)uired to calculate the taxable income and tax payable of Mr. Gadeem 'hmed whoe age i +0 year and wor/ing a a teacher in a recognied educational intitution:

1. Baic Salary !. $" ,+"000 2. Bonu $0"000 %. #on(eyance 'llowance p.m. 2"000 #on(eyance owned and maintained by employee himelf< 4. >oan i pro(ided by employer ? 1$@ +" 00"000 $. 6uali7cation pay 10"000 +. >ea(e encahment 12"000 ,. roperty income 1" $0"000 -. Foreign income from buine foreign tax paid i !. 12"000< 1" %0"000 . Hain on the ale of G53 unit 10"000 &olding period i more than one year< 10. Hain on the ale of a pri(ate company hare $"000 Share were purchaed two year before< 11. 'gricultural income 20"000 12. Birthday preent recei(ed %"000 1%. =onation for charitable purpoe 10"000 14. #ontribution to appro(ed penion fund 1$"000 1$. 'mount withdrawn from ban/ +0"000