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2 Mr. A is a Doctor having his own medical office in Alsancak/ Izmir. He calculated his gross independent personal service income as 320.000 TL in 2021. The deductible expenses incurred for that activity amounted to 175.000 TRY. Mr. A has also two flats in Karşıyaka/İzmir. The rental income on those flats were 45.000 TRY in 2021. The taxpayer has paid 10.000 TRY of Social Security Institution for Artisans and Self-Employed Persons (BAĞKUR) premiums. The paid withholding tax is 5.500 TRY. The paid advance tax is 2.800 TRY He chooses lump-sum expense method for his rental income. Exclusion amount for rental income is 7.000 TRY for 2021. Use the below income tax schedule for 2021. Required: Calculate Mr. A's personal income tax liability for 2021.

2 Mr. A is a Doctor having his own medical office in Alsancak/ Izmir. He calculated his gross independent personal service income as 320.000 TL in 2021. The deductible expenses incurred for that activity amounted to 175.000 TRY. Mr. A has also two flats in Karşıyaka/İzmir. The rental income on those flats were 45.000 TRY in 2021. The taxpayer has paid 10.000 TRY of Social Security Institution for Artisans and Self-Employed Persons (BAĞKUR) premiums. The paid withholding tax is 5.500 TRY. The paid advance tax is 2.800 TRY He chooses lump-sum expense method for his rental income. Exclusion amount for rental income is 7.000 TRY for 2021. Use the below income tax schedule for 2021. Required: Calculate Mr. A's personal income tax liability for 2021.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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calculated personal income tax?

Tax bases and tax rates for other than wages and salaries stated in Article 103 of the PITL for 2021 are as follows: • Up to 24,000 TRY 15% 3.600 TRY for 24,000 TRY of 53.000 TRY, for more 20% 9.400 TRY for 53.000 TRY of 130.000 TRY, for more 27% 30.190 TRY for 130.000 TRY of 650,000 TRY, for more 35% • 212.190 TRY for 650,000 TRY of more than 650,000 TRY, for more 40%
Transcribed Image Text:Tax bases and tax rates for other than wages and salaries stated in Article 103 of the PITL for 2021 are as follows: • Up to 24,000 TRY 15% 3.600 TRY for 24,000 TRY of 53.000 TRY, for more 20% 9.400 TRY for 53.000 TRY of 130.000 TRY, for more 27% 30.190 TRY for 130.000 TRY of 650,000 TRY, for more 35% • 212.190 TRY for 650,000 TRY of more than 650,000 TRY, for more 40%
Mr. A is a Doctor having his own medical office in Alsancak/ İzmir. He calculated his gross independent personal service income as 320.000 TL in 2021. The deductible expenses incurred for that activity amounted to 175.000 TRY. Mr. A has also two flats in Karşıyaka/izmir. The rental income on those flats were 45.000 TRY in 2021. The taxpayer has paid 10.000 TRY of Social Security Institution for Artisans and Self-Employed Persons (BAĞKUR) premiums. The paid withholding tax is 5.500 TRY. The paid advance tax is 2.800 TRY He chooses lump-sum expense method for his rental income. Exclusion amount for rental income is 7.000 TRY for 2021. Use the below income tax schedule for 2021. Required: Calculate Mr. A's personal income tax liability for 2021.
Transcribed Image Text:Mr. A is a Doctor having his own medical office in Alsancak/ İzmir. He calculated his gross independent personal service income as 320.000 TL in 2021. The deductible expenses incurred for that activity amounted to 175.000 TRY. Mr. A has also two flats in Karşıyaka/izmir. The rental income on those flats were 45.000 TRY in 2021. The taxpayer has paid 10.000 TRY of Social Security Institution for Artisans and Self-Employed Persons (BAĞKUR) premiums. The paid withholding tax is 5.500 TRY. The paid advance tax is 2.800 TRY He chooses lump-sum expense method for his rental income. Exclusion amount for rental income is 7.000 TRY for 2021. Use the below income tax schedule for 2021. Required: Calculate Mr. A's personal income tax liability for 2021.
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