Qns.no.1) Mr. Mukul is an employee of government officer.
His pay scale is 50000 – 1000 – 55000
-EB -2000 – 65000. He was appointed on 1st Shrawan 2073. His other transacIons of income year
2079/80 as follows:
• Non parIcipaIng allowance 30 percent of basic salary
• Project allowances Rs. 3000 per month
• He received leave pay Rs.25000
• He get children educaIon allowances Rs.4000 per month the actual paid Rs.53000
• He received house rent of Rs. 30000 (Net)
• Price for best employee of Rs. 40000
• He is a disable resident
• Medical expenses paid by him of Rs. 40000 (50 percent of the bill amount paid by office)
and he claimed for tax credit.
• Life insurance premium paid by him of Rs.20000
• DonaIon paid to PADT of Rs. 35000.
• Gi[ received of Rs. 35000
• Dividend Received from Pakistani company Rs.360000 (Net). Tax paid to Pakistani
government of Rs.40000.
• Interest on private bank Rs. 90000 (Net) and from unrecognized sector is Rs.85000 (Net)
• Dividend from resident company of Rs. 47000 (net)
• He earn overIme income of Rs. 25000.
• House rent allowance of Rs.10000 per month and actual rent paid Rs.10000 per month to
the house owner.
• His mobile bill amounIng to Rs.18000 paid by office. One half of the bills is related to
official use.
• His office is situated in remote area class-B
• Remote area allowance 10 percent of basic salary.
• TransportaIon facility provided by the office to go and come back from office in equal
term to the other employee. Cost per employee comes to Rs.2500 per month.
• Business promoIonal allowance of Rs.30000.
• Commission received of Rs.5000.
• Office provided him to loan and Mr. Mukul paid interest Rs.40000 annually at a interest
rate of 5% p.a. the prevailing interest rate is 12% p.a.
• Royalty from natural resources of Rs. 90000 (Net)
Required:
1. Assessable income from employment
2. Assessable income from investment
3. Taxable income
4. Tax Liability and Tax payable
Qns.no.1) Mr. Mukul is an employee of government officer. His pay scale is 55000 – 500 – 58000
-EB -2000 – 70000. He was appointed on 1st Ashoj 2072. His other transacIons of income year
2079/80 as follows:
• Advance salary received of Rs.13000
• He contributes Rs.4000 per month to approved provident fund and the office also
contribute an equal amount.
• He deposits Rs. 5000 per month in CIT.
• The office provides him a loan of Rs. 1500000 on 1st poush previous year at interest rate
of 5% p.a. the prevailing interest rate is 12%
• He received from part Ime lecture in a private college Rs.70000 (net)
• His son medical treatment expenses Rs.20000 claimed for deducIon.
• The office provides a car without Driver. For this purpose the office pays Rs.10000 per
month as driver salary and fuel expenses Rs.35000. this car is equally used for private and
official purpose.
• Dearness allowance Rs.15000
• Private building insurance premium paid Rs.3000
• He received interest from saving deposit of Rs.35000
• DonaIon to prime minister relief fund Rs.40000
• Life insurance premium of his own of Rs.12000 and his son of Rs.15000 paid by office.
• Emergency medical treatment of Rs.450 provided by office.
• TuiIon fee of his son paid by office of Rs.20000.
• He received Rs.85000 (net) from locery.
• Travelling and daily allowance of Rs.30000.
• Conveyance allowance of Rs.13000
• He received leave pay Rs.40000.
• He donated to registered poliIcal party with elecIon commission Rs.45000.
• Bonus equal to 4 months salary.
• AccommodaIon facility provided by office.
• Department head allowance of Rs.5000
• Windfall gain Rs.75000.
• Interest from investment Rs.85000 (net)
• Clothing allowance of Rs.4000
• Gain on maturity of insurance policy of Rs.7000.
• Gain on sales of non-business chargeable assets Rs.300000
• Gain on sales of non-listed share Rs. 270000 (net)
• RemuneraIon for acIng as an examiner from T.U. Rs.4000.
• MeeIng allowance of Rs 3000
Required:
1. Assessable income from employment
2. Assessable income from investment
3. Taxable income and tax liability
