43) 90 days

45)2500

48)59000

5)10000

6)882

7)23750

Q4)

KATNISS-INCOME TAX PAYABLE 2020/21

NSI SI DI TOTAL

TRADING PROFIT 38000

EMPLOYMENT INC 8000

BANK INT 3500

DIVIDEND INCOME 7000

TOTAL INCOME 46000 3500 7000 56500

QUALIFYING INT (1000)

NET INCOME 55500

PA (12500)

TAX PAYABLE INC 32500 3500 7000 43000

INCOME TAX LIABILITY

NSI

32500*0.2 =6500 brb 40000

Hrb 152500

SI

500*0 =0
3000*0.2 =600

DI

2000*0 =0

2000*7.5% =150

3000*32.5% =975

INCOME TAX LIABILITY =8225

PAYE =(505)

INCOME TAX PAYABLE = 7720