Transcribed Image Text:Transactions with values in PKR
Salary Income
1 million
Shares of ABC Pvt Ltd purchased on 1* April 2020 and
sold on 30th May 2021:
Cost Paid
5 Lac
Consideration received
7 lac
A plot was purchased on 1* of Feb 2019 and sold on 30th
of April 2021:
Cost paid
3 million
Consideration received
3.5 million
The shares of XYZ Itd which is a listed company at SE
Pakistan, were also purchased on 1* of September 2019
and sold on 31" of March 2021 at following:
Cost of purchase 4 lac
Price received on disposal
3.5
Property rented out on 1* of January
Monthly rental
50,000
Advance adjustable against rent
1 million
He also runs a business in Islamabad which yielded the
Income of 2 million
Required: Compute the taxable income and tax liability
of the person keeping in view the provisions of NTR and
STR, and apply both methods separately in case of
property income
Rules by which an authority (usually a government) imposes a financial obligation on individuals or organizations within its domain. Property or transactions can be taxed. While taxes are primarily intended to fund the operation of a government, many tax laws are created to encourage or discourage certain behaviors by citizens or companies.
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