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What is the taxable income for the tax year 2011?
11-19-2011, 07:50 PM
Post: #1
What is the taxable income for the tax year 2011?
My annual income statement 2011 are as follows

Salary income Rs590490.
Recognized provident fund Employer's contribution Rs28044.
Recognized provident fund Employees contribution Rs28044.
Employer's Rs122834.00 profit rate @ 14%.
Employee's Rs122834.00.
Interest credit on Recognized provident fund account balance Rs877385.82 @14%.

What is the taxable income for the tax year 2011?
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11-22-2011, 08:23 PM
Post: #2
 
Rs590490 [Clause 22 of Part I of 2nd Schedule & Rule 3 of Part I of Sixth Schedule to ITO, 2001]
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11-23-2011, 02:08 AM
Post: #3
 
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by student_of_law</i>
<br />Rs590490 [Clause 22 of Part I of 2nd Schedule & Rule 3 of Part I of Sixth Schedule to ITO, 2001]
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
What is the procedure to calculate the Income Tax on recognized provident fund?
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