Assignment GDB Solution: FIN623 Taxation Management


FIN623 GDB 1 Solution Spring 2018

Total Marks 5 Starting Date: Thursday, May 17, 2018 Closing Date : Wednesday, May 23, 2018 Status: OpenQuestion Title: Definitions and Scope of Income Question Description Alfa – a debtor of Beta sent a check of Rs. 15,000 on Beta’s advice to one of its creditors – Gamma. Later, Beta duly received receipt confirmation form Gamma. Briefly describe the tax treatment of this amount in the hands of Beta? […]

FIN623 GDB 1 Solution Spring 2017

1. Mr. Khurram will receive PKR 100,000 as income from salary on 30 April 2017. This amount would be chargeable to tax on 1 April 2017. Should this amount be taxed after receiving on 30 April 2017? Justify your answer in the light of the relevant section of the Income Tax Ordinance 2001 modified till […]

FIN623 Taxation Management Assignment 1 Solution Fall 2014

After going through this assignment, the students should be able to: 1. Calculate the gross total income 2. Differentiate the sources of income according to residential status 3. Differentiate between taxable and non-taxable income of a person Mr. Ali furnishes the following particulars of his income earned during tax Year 2014-15: 1. Income from agriculture in […]

FIN623 Taxation Management Assignment 1 Solution Spring 2014

Nasir Foods Limited is famous for its food products. The company is engaged in both agricultural as well as industrial activities. It has its own farms where fruits, tomatoes, etc., are cultivated. These items along with those purchased from the market are used in manufacturing Ketchup, Jams, Jelly and Marmalade. Following information is available for the tax year 2014. […]

FIN623 Taxation Management Final Paper March 2014

Total 60 questions 52 MCQs (Each carrying 1Mark) 3 Short Questions (Each carrying 3Mark) 5 Short Questions (Each carrying 5Mark) Some of the Questions from Today’s paper. Question:- How the registration is made and what are the requirements under sales tax act 1990(5). Question:- Tax treatment of non-adjustable amount f rent with e.g(3) Question:- Depreciation under section 22 […]

FIN623 Taxation Management GDB 2 Solution Spring 2013

Taxation plays major role in development and stabilization of any economy in long run irrespective of prevailing economic infrastructure. Tax collection in developing countries has always been a problem, which has manifold issues i.e. lower tax-to-GDP ratio, political interests of politicians, tax dodging, and FBR policies matter, unsuitability of some specific tax and ad-hockcollection of taxes. Pakistan has also been facing many […]

FIN623 Taxation Management Assignment 2 Solution Fall 2012

Mr. Ijaz is an employee of Regional International Airline (RIA). Following is the detail of his salary received and other receipts during the year ended on 30th June 2012: Particulars                                                         Rs. Basic salary             […]

FIN623 Taxation Management Assignment 1 Solution Fall 2012

SCENARIO 1 I. Mr. Akram has a piece of agriculture land located outside the metropolitan area of City. He has given this land on annual rent of Rs. 50,000 to Mr. Bashir for growing flowers and different kinds of pulses. Mr. Akram has received rent of Rs. 50,000 during the tax year 2012. II. Mr. Akram has a […]

FIN623 Solution GDB No. 1 Fall 2012

FIN623  Solution GDB No. 1 Fall 2012  Scenario Energy crisis is one of the burning issues for government, media, people and businesses of Pakistan. The situation of electricity has been so exacerbated that industry had to face the toughest time now a days. Shortage in electricity production and keen interest of government for energy projects […]