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  • M/S ABC Limited NTN: Cnic: Income Tax Computation Tax Year 20X6

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    M/S ABC Limited's income tax computation for tax year 20X6 shows a total income from property of 1,676,000 with deductions for repairs, maintenance, property tax and collection charges. The net tax liability after computation is 58,400 with no tax deducted, resulting in a total tax payable of 58,400.

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    M/S ABC Limited's income tax computation for tax year 20X6 shows a total income from property of 1,676,000 with deductions for repairs, maintenance, property tax and collection charges. The net tax liability after computation is 58,400 with no tax deducted, resulting in a total tax payable of 58,400.

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    7 views1 page

    M/S ABC Limited NTN: Cnic: Income Tax Computation Tax Year 20X6

    Uploaded by

    fergusonaf555
    M/S ABC Limited's income tax computation for tax year 20X6 shows a total income from property of 1,676,000 with deductions for repairs, maintenance, property tax and collection charges. The net tax liability after computation is 58,400 with no tax deducted, resulting in a total tax payable of 58,400.

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    © All Rights Reserved
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    of 1

    INCOME TAX COMPUTATION

    M/S ABC Limited


    NTN: TAX YEAR 20X6
    CNIC:

    Income from Property TOTAL


    Income from Property (Rent) 200,000x12 2,400,000

    Gross Rent 2,400,000


    Less: Deductions
    1/5 Repair & miantainance - - (480,000)
    Property tax apid - (100,000)
    6% Collection Charges - - (144,000)
    Rent charge to Income Tax - - 1,676,000

    Capital Gain/Loss
    -
    FINAL TAX REGIME (FTR)
    Tax
    PROFIT ON PLS ACCOUNT
    Gross Receipt Tax Deducted Deductable Net Receipt
    - - -
    - - - -

    Profit on debt - - - - C

    Tax Liability 58,400


    Add: Difference of Minimum Tax
    NET Tax Liability 58,400
    Less: Tax Deducted
    Tax on Property Tax 0
    Tax On Cell Phone 0
    Others -
    -
    Tax Payable/ Refundable 58,400

    58,400
    Computation of Tax Liability
    As per Property salb
    Inocme From Property
    Upto 1500,000 1,500,000 32,000
    176,000 15% 26,400
    1,676,000 58,400
    N-1
    Tax Slab for TY 2016
    Water and salary payment show in Personal Expenses

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