of Karachi owns a building in clifton area of karachi.On 1.7.2021 he rented out the building to Mr Bhutto at an annual rent of Rs. 1.600,000. This amount include Rs. 15.000 per month for arranging security guards for the building. Following expenses were incurred by Mr. Zardari on the property during the tax year 2022,he ta year 2022. Repairs and Main: 35,000 Propetly tax: 20,000 Rent Collection Charges: 10,000 Salary of Security Guards: 70,000 Required: Under the provision of ITO. 2001 calculate the tax liability of M
of Karachi owns a building in clifton area of karachi.On 1.7.2021 he rented out the building to Mr Bhutto at an annual rent of Rs. 1.600,000. This amount include Rs. 15.000 per month for arranging security guards for the building. Following expenses were incurred by Mr. Zardari on the property during the tax year 2022,he ta year 2022. Repairs and Main: 35,000 Propetly tax: 20,000 Rent Collection Charges: 10,000 Salary of Security Guards: 70,000 Required: Under the provision of ITO. 2001 calculate the tax liability of M
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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‘‘Mr Zardari a resident of Karachi owns a building in clifton area of karachi.On 1.7.2021 he rented out the building to Mr Bhutto at an annual rent of Rs. 1.600,000. This amount include Rs. 15.000 per month for arranging security guards for the building. Following expenses were incurred by Mr. Zardari on the property during the tax year 2022,he ta year 2022.
Repairs and Main: 35,000 Propetly tax: 20,000
Rent Collection Charges: 10,000 Salary of Security Guards: 70,000
Required: Under the provision of ITO. 2001 calculate the tax liability of Mr Zardari under the appropriate beads of income for the tax year 2022.
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