Total 53 Q

49 MCQ's

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What is meant by Depreciable asset (3 Marks)

Briefly explain the history of sales Tax in Pakistan (3 Marks)

From following info/Data for 2009 regarding M/S ABC brothers a partnership firm compute taxable income and tax liability.
The firm comprises 4 partners MR.A, Mr.B, Mr.C, Mr.D each has equal share in profit.
Net profit of M/S ABC brothers for tax year 2009 is worked Rs 1,000,000
Mr.C has also earned income amount Rs 200,000 from other source. (5 Marks)

Write the tax table of motor car. (5 Marks)

Compute Taxable income of Ali
MTS 30000-2000-50000
Basic Salary 38000 PM
Accommodation provided by the emploer50% of B.S
Employer provide Conveyance to MR. Ali for office use 800000. (5 Marks)