The following data are taken from the books of a dealer in securities: Selling price, shares held as inventory 3,000,000, Selling price, shares held as investment 2,000,000, Acquisition cost, shares held as inventory 1,000,000, Acquisition cost, shares held as investment 1,500,000, Other Income, shares held as inventory 200,000. How much is the output tax using 12% rate?

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Q: What is Professional Tax and give examples?

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