Nizwa Steels LLC received an assessment order (AO) from the income tax authority on 1st August 2020. As per the AO, the due date of filing of final return was on 31st July 2020 for the tax year 2019 and the tax payable is assessed as RO 150,000. What will be the amount of tax to be paid by the taxpayer assuming that if the payment of tax was made on 31st January 2021? O a. RO 150,500 O b. RO 150,000 O c. RO 150,750 O d. None of the options
Nizwa Steels LLC received an assessment order (AO) from the income tax authority on 1st August 2020. As per the AO, the due date of filing of final return was on 31st July 2020 for the tax year 2019 and the tax payable is assessed as RO 150,000. What will be the amount of tax to be paid by the taxpayer assuming that if the payment of tax was made on 31st January 2021? O a. RO 150,500 O b. RO 150,000 O c. RO 150,750 O d. None of the options
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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36-Nizwa Steels LLC received an assessment order (AO) from the income tax authority on 1st August 2020. As per the AO, the due date of filing of final return was on 31st July 2020 for the tax year 2019 and the tax payable is assessed as RO 150,000. What will be the amount of tax to be paid by the taxpayer assuming that if the payment of tax was made on 31st January 2021?
O a. RO 150,500
O b. RO 150,000
O c. RO 150,750
O d. None of the options
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