COMPUTATION TAXABLE INCOME:

SOLUTION:

Salary (800,000*12) 800,000 12

house rent allownce (100,000*12) 100,000 12
Medical allownce (100,000*12) 100,000 12
monthly rent from shop (20,000*12) 20,000 12
Part-time Rj services (75,000*12) 75,000 12
TOTAL SALARY INCOME
Health insurance
Return ticket from Dubai
Company maintained car (6,000,000*5%)
TOTAL INCOME

COMPUTATION OF TAXABLE INCOME

Gross salary
less: Zakat to Indus Hospital

upto 12,000,000 12,000,000 12,200,000

27.5% exceeding Rs. 12,000,000(200,000*27.5%) 200,000 0.275

TAXABLE INCOME
 9,600,000
1,200,000
1,200,000
240,000
900,000
13,140,000
60,000
200,000
300,000
13,700,000

13,700,000
1,500,000
12,200,000
- 200,000
2,345,000
55,000
2,400,000
 CASE STUDY
ADVISE TO AMELIA
The basic problem in this case study is whether or not Amelia has entered into a contract with any of
an invitation to treat because Amelia advertised her airplane for sale in Monday’s Daily Chronicle fo
that she invite people to see her and secure best offer’ . At this point, it was necessary to consider the
Billy indicated that he may be prepared to offer a lower sum. Since Amelia has (probably) not made
may be making an offer by post to sell at £19,000 but such an offer was only good upon communicati
£15,000. At this point, the question became whether or not Amelia’s initial statement was an offer – a
was unlikely to be an offer, Billy simply offered to pay £15,000; this was not accepted and no contrac
(assuming the advertisement is an invitation to treat) or a counter offer (if the advertisement is an off
contract can arise. When Charles sends his later email, he has either rejected an original offer (quaer
world can be rejected by only one offeree) and cannot now accept it or he is making an offer which A
any contract arises between the two of them. Doland’s letter seemed to give rise to the postal acceptan
has made an offer by her advetisement, then it seemed unlikely that acceptance by post is impliedly o
an acceptance) is only good upon communication. Before the communication, he withdrew what wou
has no reasonable expectation to protect). The only contract formed is with Eddie with the amount of
sum in cash.
 SE STUDY
E TO AMELIA
into a contract with any of Billy, Charles or Doland. The better view was that it was
onday’s Daily Chronicle for ‘£20,000 for quick sale – best offer secures it clearly sees
necessary to consider the communications of Billy, Charles and Dolands in turn.
has (probably) not made an offer, Billy’s statement was really of no effect. Amelia
y good upon communication. Billy, when he received this offer, returned with
statement was an offer – and that it was to take the highest amount available. As it
t accepted and no contract arose. Charles’s email is either an offer at £18,000
the advertisement is an offer). Whatever it is, Amelia does not accept it and no
ed an original offer (quaere, though, if it is an offer whether or not one made to the
s making an offer which Amelia does not accept. On balance, it seemed unlikely that
e rise to the postal acceptance rules but does not really involve these rules. If Amelia
ance by post is impliedly or expressly authorised which means that Doland’s letter (if
on, he withdrew what would have been an acceptance by a faster method (meaning A
h Eddie with the amount of ‘£20,000 which amelia has offer when he provides the
SOLUTION NO.1

COMPUTE TAXABLE INCOME OF ZAKI:

Rent (500,000*12) 500,000 12

Add: un-adjusted amount

Less: Loan (18% interest rate) 2,000,000 18%

TAXABLE INCOME OF ZAKI

SOLUTION NO.2

COMPUTE TAXABLE INCOME OF ZAKI:

Rent (300,000*12) 300,000 12

Received advance two month(300,000*2) 300,000 2

SOLUTION NO.3

COMPUTE TAXABLE INCOME OF ZAKI:

Rent (700,000*12) 700,000 12

Add: un-adjusted deposite

Less: Already recognized income(100,000*2) 100,000 2

Balance of chargeable deposite of 10 years(1,000,000/10)

TAXABLE INCOME

COMPUTATION OF TAXABLE SALARY

Upto 8,000,000 8,300,000 8,000,000

35% exceeding Rs. 8,000,000 (300,000*35%) 300,000 0.35
TAXABLE INCOME

SOLUTION NO.4

Rent (2,000,000*12 2,000,000 12

 add: un-adjusted deposite (10,000,000/10)

less: Repair and maintainance 20% (24,000,000*20%) 24,000,000 0.2

insurance
administrative expense
ground rent to government
TOTAL
TAXABLE INCOME OF XYZ PVT LTD.
 6,000,000
0
6,000,000
360,000
5,640,000

3,600,000
600,000
4,200,000

8,400,000
1,200,000
9,600,000
200,000
8,200,000
100,000
8,300,000

1,710,000
300,000
105,000
1,815,000

24,000,000
 1,000,000
25,000,000
4,800,000
100,000
2,400,000
500,000
7,800,000
17,200,000
SOLUTION:

Accounting profile 2,000,000

Add: accounting depreciation 275,000
head office expenses 225,000
computer software 100,000
lease rental 130,000
TOTAL 730,000
2,730,000
less: finance charges on assets taken on lease 75,000
GROSS INCOME 2,655,000

TAX LIABILITY OF M/S ALPHA PVT LTD.

Gross income 2,655,000
rate of tax 29%
TAX LIABILITY 769,950
 SOLUTION NO.1

MR. AHMED PURCHASED

Purchase cement 1,500,000 0.17 255,000
purchase chemical 200000 0.17 34000
1,700,000 289,000
Less:paid K-electric bill 30000 4000
1,670,000 285,000

MR. AHMED SELL

Sold supplied goods 1,800,000 0.17 306,000

CALCULATION OF TAX LIABILITY

Sales output tax 306,000
Less: purchase input tax 285,000
TAX LIABILTY 21,000

SOLUTION NO. 2

MR. ALI PURCHASED

MR.Ali purchased raw material 200,000 0.17 34,000

MR. ALI SELL

MR. Ali sale bedsheets 400000 0.17 68,000

sales output tax 68,000

less: purchase input tax 34,000
TAX LIABILTY 34,000