Total 53 Q

49 MCQ's

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)

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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)