| |
| Plz Help Us! |
| I and my friends have failed to pass the Taxation paper 2 times will anyone help us how to study. Some of us got refered & some failed. plzzzzzzzzzzz Help usssssssssssssssssss............
Webmaster |
| |
| |
| Trade Discount |
| Whether or not Trade Discount will mention on the Invoice , and if Invoices are prepared on Net Basis what Implications will arises with relation to the Income Tax and Sales Tax laws.
If any Case Law Decided on this Issue, Please refer......
Edited by - ayub on Feb 18 2003 7:18:33 PM
Edited by - ayub on Feb 19 2003 11:41:31 AM |
| |
| |
| Input Tax Adjustment |
|
on which payments a Service sector company can claim input tax adjustments against its out put tax liability.
Particularly when it is very difficult to ascertian the cost of services/ direct cost of the services.
Could any one specify the case laws, on which basis for input tax adjustments could be clear.
|
| |
| |
| Withholding Tax Deduction |
| Is the withholding tax under S50 of the Income Tax Ordinance to be deducted from the amount payable including Sales Tax? Or should it be deducted on the amount of Invoice net of Sales Tax?
|
| |
| |
| Losses Carried Back & Carried Forward |
| My name is Khawer Javed Qazi.I m a student of ACCA.I was studying the Subject of Business Taxation.In this subject I got a
problem which I would like to share with you.I was studying the topic of "Relief for Trading Losses" , in which I faced a
problem.I hope you will help me.
...............................Year to----6 months to----Year to------Year to
...............................30.9.00-----31.3.01------31.3.02-------31.3.03
...................................£................£..................£...................£..
Tra.P/(L)....................14,000........(10,000).......23,500..........(25,000)
Sch.A...........................800............400.............800...................800
Chargeable
Gains............................-...............700...............-.................1,900
Charges On Income
Gift Aid.........................200............200............200....................200
There was a loss brought forward under S393(1)ICTA 1988 at 1 October 1999 of £7000.
Calculate the Profits Chargeable to Corporation Tax assuming that Loss Relief is claimed as early as possible.
This was the whole question.For me it seems to be a simple question but there are figures in the answer that might be miss printed but to get another Opinion I would like to show you the Answer.
For confusing Figure I m using "*".If it is an apportionment then please tell me the basis for apportionment.
...............................Year to----6 months to-------Year to----------Year to
...............................30.9.00-----31.3.01----------31.3.02-----------31.3.03
...................................£................£..................£...................£..
Tra.P/(L)....................14,000...........-..................23,500....................-
S393(1)Relief..............(7,000)
Sch.A...........................800............400................800.....................800
Chargeable
Gains............................-...............700...............-............................1,900
...............................--------------- ------------- ----------- -------------
................................7,800...............2900*...........24.300...............5100*
S393A Relief..............*(7,100)............(2900)*..........(19900)*............(5100)*
Charges On Income
Gift Aid.......................(200)................Nil..............(200)....................Nil
..........................-------------.....................------------
................................500................................4200
Please Tell me the reason for the confusing figure which are in (*).on what basis the S393A Relief is given.
And why the figures of "2900" and "5100" are added in the place of losses as profits.
Edited by - khawerjavedqazi on Aug 07 2003 07:19:16 AM
Edited by - khawerjavedqazi on Aug 07 2003 07:24:13 AM |
| |
| |
| Sec 73 & SRO 507 of the Sales Tax |
| It has been reported in the press that the requirements of Sec 73 & SRO 507 has been held in abeyance till Aug 31, 2003.
The same fact has not been reported on the CBR website. If anyone has any evidence from CBR. Pl respond[url][/url] |
| |
| |
| Sales Tax Wrongly Deposited |
| How can Sales Tax deposited wrongly adjusted in next period , for example if an invoice wrongly generated and sales tax has been deposited to Govt. treasury, subsequently client has refused to accept the invoice cos it didn,t avail the services.
How can a service provider adjust the above GST in his subsequent sales tax return.
Edited by - ayub on Aug 21 2003 12:20:10 PM |
| |
| |
| TAX ON PROPERTY PURCHASE AND RESALE |
| A salaried person purchases a house for own residence and then re-sells it after a few months as a good offer is received.Is this Profit on reselling considered as taxable income?. If YES under what section/clause?.If NO then further consider the following example.
The same person buys a new house and a few months latter he again receives a good offer for the second home and re-sells it at a handsome profit. In this situation as he has resold 2 properties at profit wikk this be considered as business ets? and chargeable to tax along with the profit from first transaction?.
|
| |
| |
|
|
