Tax Book 2023

Income From Other Sources Chapter- 13 PRACTICE QUESTIONS WITH SOLUTIONS Q # 1 Mr. C incurred following transactions during the y ...

Income From Other Sources Chapter- 13 ICMAP PAST PAPERS THEORECTICAL QUESTIONS Q. NO. 3(b) Autumn 2016 Exemption from tax is pro ...

Income From Other Sources Chapter- 13 CA CAF- 6 PAST PAPERS THEORECTICAL QUESTIONS Q. NO. 2 (a)(iii) Spring 2022 Under the provi ...

Losses Chapter- 14 Section Topic covered Topic covered Section Rule Chart of set off and carry forward of losses 104 Foreign los ...

Losses Chapter- 14 income, if so allowed under the Ordinance. INCOME FROM BUSINESS – NON SPECULATION BUSINESS Loss can be set ...

Losses Chapter- 14 FOREIGN LOSSES Foreign loss can be set off only against the income under the same head of income only. Unad ...

Losses Chapter- 14 off the loss against the taxable income under any other head of income except salary income for the year. Whe ...

Losses Chapter- 14 The loss attributable to deductions allowed depreciation, initial depreciation, first year allowance, acceler ...

Losses Chapter- 14 Carry forward of losses of export procession zone units [u/c 2 Part IV, second schedule] – This clause has be ...

Losses Chapter- 14 Income before setting of losses 400,000 Required: Compute the tax payable by the amalgamated company, rate of ...

Losses Chapter- 14 is no “income from business” for that year, be set off against 50% of the person’s income chargeable under th ...

Losses Chapter- 14 unadjusted during the last tax year. Required: Calculate KL’s total tax payable and foreign tax losses to be ...

Losses Chapter- 14 (C) The application shall be signed by the respective Chief Executive Officer of the Holding Company and Subs ...

Losses Chapter- 14 Computation of tax liability: Higher of: Tax on Rs. 400,000 @ 29 % 1 16, 000 OR Tax on total turnover Rs. 7,0 ...

Losses Chapter- 14 (4) Where the losses surrendered by a Subsidiary Company are not adjusted against income of the Holding Compa ...

Losses Chapter- 14 From the above it is evident that an entity may set-off it losses incurred prior to the change in underlying ...

Losses Chapter- 14 Any loss u/s 37A on a 'Security chargeable to tax' can only be set off against income on another security cha ...

Losses Chapter- 14 Income from speculation business C 110,000 Loss from speculation business D (230,000) Loss on 'Speculation bu ...

Losses Chapter- 14 Loss on Sale of antique – holding period 6 years (Not to be recognized) - Gain on disposal of capital assets ...

Losses Chapter- 14 MULTIPLE CHOICE QUESTIONS Q.1 Loss from the speculation business may be set off against___________. (a) Incom ...