FINAL TERM PAPER Subject: Business Taxation M.Com.

Semester: 3rd
Session: 2019-2021 Time: 120 Minutes Marks: 50 Course
Instructor: Dr. Attari Muhammad Umer

 Answers must be comprehensive with all relevant and supporting calculations/notes.

Q. No 03: Marks: 10
Mr. Ali has basic salary of Rs.60000 per month. He is also provided free accommodation and
medical treatment by the company for all dependants. Calculate his Income-Tax payable.

Bonus Rs.130, 000

Entertainment allowance 80,000

House rent allowance 300000

Dearness allowance 100,000

Tax paid by employer 50,000

Zakat was paid 280,000

Re-imbursement of internet bill (used for office) 40,000

Encashment against un-availed leave 25,000

Medical Allowance 75,000

Telephone bills ( Tax 3000) paid by employee himself 36,000

Tax paid on cash withdrawal from bank 4,000

Hotel bills paid by company relating to official duties 48,000

Furniture acquired from company at Price 100,000

( Fair market Value is 1,50,000)

Salary of gardener and cook paid by Company Rs. 40,000

Income from facilities attached with the accommodation 50,000

Donation to Approved Charity Rs. 100,000

Q. no. 4
Q. no. 5. Calculate the sales tax payable by Mr. Anees from his particulars and details of
transactions as follows: