1st Q Gross Income 600,000 per Quarter Deductions per 280,000 Quarter W/tax at source 2,000 per quarter Interest income - 40,000 bank Compensation income W/tax compensation 200,000 on 5,000 2nd Q 740,000 430,000 3,000 20,000 200,000 6,000 What is the income tax due / payable of A per quarter? 3rd Q 980,000 610,000 0 10,000 200,000 6,000 4th Q 1,450,000 850,000 1,000 10,000 200,000 8,000
1st Q Gross Income 600,000 per Quarter Deductions per 280,000 Quarter W/tax at source 2,000 per quarter Interest income - 40,000 bank Compensation income W/tax compensation 200,000 on 5,000 2nd Q 740,000 430,000 3,000 20,000 200,000 6,000 What is the income tax due / payable of A per quarter? 3rd Q 980,000 610,000 0 10,000 200,000 6,000 4th Q 1,450,000 850,000 1,000 10,000 200,000 8,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:1* Q
2nd Q
3rd Q
4th Q
Gross
Income 600,000
740,000
980,000
1,450,000
per Quarter
Deductions per 280,000
Quarter
430,000
| 610,000
850,000
W/tax at source 2,000
per quarter
Interest income - 40,000
bank
3,000
1,000
20,000
10,000
10,000
Compensation
income
200,000
200,000
200,000
200,000
W/tax
compensation
on 5,000
| 6,000
| 6,000
8,000
What is the income tax due / payable of A per quarter?
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