How much tax an owner of property will pay in a tax year 2020-2021 based on receipts of following amounts pertinent to property: 05 Rent Received per month = Rs 50,000 Un-adjustable Advance = Rs 10,000 Annual Repair Charges = 500,000

How much tax an owner of property will pay in a tax year 2020-2021 based on receipts of following amounts pertinent to property: 05 Rent Received per month = Rs 50,000 Un-adjustable Advance = Rs 10,000 Annual Repair Charges = 500,000

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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Question

Q.1. How much tax an owner of property will pay in a tax year 2020-2021 based on receipts of following amounts pertinent to property: 05

Rent Received per month = Rs 50,000

Un-adjustable Advance = Rs 10,000

Annual Repair Charges = 500,000

Annual Fire Insurance Premium = 30,000

Ground Rent = 50,000

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