FIN623 - Taxation Management Assignment No. 01 Solution Spring 2013

by Victoria333 Sun May 12, 2013 5:59 pm

DUE DATE: 14TH MAY, 2013
MARKS: 20(16+4)
ASSIGNMENT:

Keeping the taxation mechanism of Pakistan into consideration, you are required to ascertain either the income in the given scenarios is exempt or not? Support your answer with solid reasons in the light of Income Tax Ordinance (I.T.O) 2001. (First answer is being provided in the table for better understanding and presentation of answer.)
IMPORTANT:
24 hours extra / grace period after the due date is usually available to overcome uploading difficulties. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.

OTHER IMPORTANT INSTRUCTIONS: DEADLINE:
• Make sure to upload the solution file before the due date on VULMS.
• Any submission made via email after the due date will not be accepted.

FORMATTING GUIDELINES:
• Use the font style “Times New Roman” or “Arial” and font size “12”.
• It is advised to compose your document in MS-Word format.
• You may also compose your assignment in Open Office format.
• Use black and blue font colors only.
RULES FOR MARKING
Please note that your assignment will not be graded or graded as Zero (0), if:
• It is submitted after the due date.
• The file you uploaded does not open or is corrupt.
• It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.
• It is cheated or copied from other students, internet, books, journals etc.
Note related to load shedding: Please be proactive

Dear students!
As you know that Pre Mid-Term semester activities have started and load shedding problem is also prevailing in our country. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.

by Victoria333 Mon May 13, 2013 4:58 pm

Question:1
1: sect 46 exempt profit on debt
2: sec 41 exempt agriculture income
3: sec 51 exempt Foriegn source of income of returning expatriates
4: sec 47 exempt scholarships
5: sec 48 exempt support payment under agreement on live apart
6: sec 44 exempt under international agreement
7: ???????????????????????
8: sec 49 fedral & provincial govt and loal authority income
7: sect 43 exempt Foreign government also grants similar exemptions to employees of Federal Government.

FIN623 - Taxation Management Assignment No. 01 Solution Spring 2013

FIN623 - Taxation Management Assignment No. 01 Solution Spring 2013

Re: FIN623 - Taxation Management Assignment No. 01 Solution Spring 2013