01-29-2011, 03:35 AM
Add Annual Salary = 4,56,000/-
Add Conveyance Allowance = 120,000/=
Add 5% of Car Value = 36,250/-
Less Zakat Paid = 12,000/-
Taxable Income for the year 2010 = 6,00,250
Tax Rate = 4.5%
Tax Liability = 27,011/-
Less (Annual Mobile consumption = 72000/-) , IT withhold = 6545/=
Less Tax withheld by Employer = ????????
Tax Payable/Receivable = ---------------
Add Conveyance Allowance = 120,000/=
Add 5% of Car Value = 36,250/-
Less Zakat Paid = 12,000/-
Taxable Income for the year 2010 = 6,00,250
Tax Rate = 4.5%
Tax Liability = 27,011/-
Less (Annual Mobile consumption = 72000/-) , IT withhold = 6545/=
Less Tax withheld by Employer = ????????
Tax Payable/Receivable = ---------------