This picture have answers but I just want to learn In this question the income tax calculated how was it found? what is the transactions? help please Mr A is a dentist having his own clinic in Alsancak/İzmir. He calculated his gross independent personalThe net amount of independent personal service income which hasto be reported in tax return is (170.000-65.000)=service income as 170.000 TL in 2021. The deductible105.000 TRYexpenses incurred for that activity amounted to 65.000TRY.He chooses lump-sum expense method to calculate net rentalincome which will be included and declared in the personal incomeannual tax return.Mr. A has also two flats in Karşıyaka/İzmir. The rentalincome on those flats were 40.000 TRY in 2021.Gross amount of rental income from flats:40.000 TRYMr. A had another flat in İzmir which he bought it inMarch 2018 and he disposed it in February 2021. Thenet gain on his disposal was calculated as 45.000 TRY.• Lump-sum expense (40.000 x %15):6.000 TRYThe taxpayer has paid 8,000 TRY of Social SecurityInstitution for Artisans and Self-Employed Persons(BAĞKUR) premiums.Taxable rental income (40.000 - 6.000):34.000 TRYThe paid witholding tax is 3.400 TRY.The tax payer sold the assets within the 5 years, so capital gainsare subject to tax• The paid advance tax is 2.500 TRYHe chooses lump-sum expense method for his rentalincome.Taxable capital gain (45.000-19.000):26.000 TRY• Exclusion amount on capital gain is 19.000 TRY for2021.Taxable income (105.000 + 34.000 + 26.000)=165.000 TRYExclusion for rental income 7.000 TRYSocial Security Institution for Artisans and Self-Employed PersonsRequired: Calculate Mr A's personal income tax liabilityfor 2021.(BAĞKUR) premiums- 8,000 TRYTax Base (139.000-8.000)157.000 TRYTax bases and tax rates for other than wages and salariesstated in Article 103 of the PITL for 2021 are as follows:Calculated Personal Income Tax39.640 TRYTax Credits:Up to 24,000 TRY15%Tax Paid Withholding-3.400 TRY3.600 TRY for 24,000 TRY of 53.000 TRY, for more20%Advance paid tax-2.500 TRY9.400 TRY for 53.000 TRY of 130.000 TRY, for more27%30.190 TRY for 130.000 TRY of 650,000 TRY, for moreТаx рayable (39.640-(3.400+2.500))33.740 TRY35%212.190 TRY for 650,000 TRY of more than 650,000 TRY,Stamp tax payable92.20 TRYfor more40%

Tax laws categorize taxpayers based on their taxable income and apply different rates of income tax…

Mr A is a dentist having his own clinic in Alsancak/ İzmir. He calculated his gross independent personal service income as 170.000 TL in 2021. The deductible expenses incurred for that activity amounted to 65.000 TRY. • The net amount of independent personal service income which has to be reported in tax return is (170.000-65.000)= 105.000 TRY • He chooses lump-sum expense method to calculate net rental income which will be included and declared in the personal income annual tax return. • Mr. A has also two flats in Karşıyaka/İzmir. The rental income on those flats were 40.000 TRY in 2021. Gross amount of rental income from flats: 40.000 TRY • Mr. A had another flat in İzmir which he bought it in March 2018 and he disposed it in February 2021. The net gain on his disposal was calculated as 45.000 TRY. • Lump-sum expense (40.000 x %15): 6.000 TRY • The taxpayer has paid 8,000 TRY of Social Security Institution for Artisans and Self-Employed Persons (BAĞKUR) premiums. • The paid witholding tax is 3.400 TRY. • The paid advance tax is 2.500 TRY • He chooses lump-sum expense method for his rental income. Taxable rental income (40.000 - 6.000): 34.000 TRY • The tax payer sold the assets within the 5 years, so capital gains are subject to tax • Taxable capital gain (45.000-19.000): 26.000 TRY > Exclusion amount on capital gain is 19.000 TRY for 2021. Taxable income (105.000 + 34.000 + 26.000)= 165.000 TRY • Exclusion for rental income 7.000 TRY • Required: Calculate Mr A's personal income tax liability for 2021. • Social Security Institution for Artisans and Self-Employed Persons (BAĞKUR) premiums - 8,000 TRY Tax Base (139.000-8.000) 157.000 TRY Tax bases and tax rates for other than wages and salaries stated in Article 103 of the PITL for 2021 are as follows: Calculated Personal Income Tax 39.640 TRY Tax Credits: • Up to 24,000 TRY ► 3.600 TRY for 24,000 TRY of 53.000 TRY, for more 15% Tax Paid Withholding -3.400 TRY 20% ► 9.400 TRY for 53.000 TRY of 130.000 TRY, for more Advance paid tax -2.500 TRY 27% ► 30.190 TRY for 130.000 TRY of 650,000 TRY, for more ► 212.190 TRY for 650,000 TRY of more than 650,000 TRY, Tax payable (39.640-(3.400+2.500)) 33.740 TRY 35% • Stamp tax payable 92.20 TRY for more 40%