Tax Book 2023

Chapter 21 ___ Solved Past Papers Income Tax Numericals of CA Module C - (2001 to 2022)

Expenses borne by company to move the household items 100,000 2,800,000

Basic salary (Rs.500,000 x 9 months) 4,500,000

Medical allowance (Rs.45,000 x 9 months) 405,000

450,000 -

Cost of TV and VCR (Rs.40,000 x 20%) 8,000

Interest free loan (Rs.5,000,000 x 10% x 9 / 12) 375,000

Family’s housing cost in Dubai (Rs.30,000 x 12 months) 360,000

270,000

SALARY FROM PAKISTAN SUBSIDIARY

Less: 10% of basic salary (Rs.4,500,000 x 10%)

Imran’s travelling and related cost borne by the Pakistan

(^560) ____ _ _Conceptual Approach to Taxes
270,000
Share option scheme
34,800
34,200 69,000
Total Income 8,382,000
Imran’s travelling and related cost borne by the Pakistan
subsidiary (Rs.30,000 x 9 months)
Benefit on acquisition of shares (300 shares x 2 x 58) (Note 1
attached)
Benefit on sale of share options (200 options x 171)
(^560) __ ___ _Conceptual Approach to Taxes