2.Which of the following methods of accounting is compulsory to adopt for Firm?
► Accrual Basis
► Cash Basis
► Both Accrual and Cash Basis
► Free to choose any kind of base
3.Which of the following methods of accounting is compulsory to adopt for company?
► Accrual Basis
► Cash Basis
► Both Accrual and Cash Basis
► Free to choose any kind of base
4.Which of the following methods of accounting is compulsory to adopt for aop?
► Accrual Basis
► Cash Basis
► Both Accrual and Cash Basis
► Free to choose any kind of base
--
On Mon, May 23, 2011 at 11:44 AM, Rameen Rameen <preetydoll.rameen6@gmail.com> wrote:
1.Mr.______recieved in agriculture income from dubai, his income shall be treated as……….
► Taxable
► Exempt
► not remember
► None
tell me right--
On Mon, May 23, 2011 at 10:49 AM, Wahid Pasha <mc090402676@vu.edu.pk> wrote:
GOOD LUCK
On Mon, May 23, 2011 at 10:34 AM, LAIBA BUTT <laiba.butt98@gmail.com> wrote:
Under which conditions any profit on debt is treated as Pakistan source income if it is paid by: 3
Resident Person
Non-resident Person
Solution:-
Any profit on Debt will be considered Pakistani source of Income if
Resident Person:-
It is paid by a resident person and except it is not paid in respect of any other outstanding debt used by him for the purpose of business outside of Pakistan through a permanent establishment.
Non-Resident Person:-
It is paid by a non-resident person through permanent establishment in Pakistan.
Explain the concept of 'Permanent Establishment. 3
Permanent establishment means a fixed place through which the business is fully or partly commenced and includes; A permanent place for management, warehouse, sales outlet, factory or workshop, branch office etc.
Define the following under the Income Tax Ordinance 2001 with their respective sections: 5
Resident Individual
Resident Associations of Persons
Solution:
Resident Individual: It pertains to Section 82 of Income Tax Ordinance 2001.
An individual will be resident individual for a tax year if
· The individual is present in Pakistan for a period amounting to 183(One Hundred Eighty Three) days or more in a tax year OR
· Any individual is posted abroad being the employee of the Federal or Provincial Govt; in tax year.
Resident Association of Persons: It pertains to Section 84 of Income Tax Ordinance 2001.
An association of persons will be Resident Association of persons for a particular tax year if its control and management of affairs are situated totally or partly in Pakistan at any time in a tax year.
Determine total income of Mr. Sharif, a non-resident individual for tax year 2009. Relevant data is given below:
· Share of profit received in Singapore from a business controlled through a permanent establishment in Pakistan Rs 200,000.
· Salary income of Mr. Sharif from an employment in Pakistan Rs600,000
· Remittance received from China Rs 400,000
· Profit on debt received on deposits kept with a bank in Pakistan Rs 50,000
Particulars
Gross Income for Non-Resident
Share of Profit Received through PE in Pakistan
200,000/-
Salary
600,000/-
Remittance Received
NIL
Profit on Debt
50,000/-
TOTAL
850,000/-
--
REMEMBER ME IN UR PRAYERS
REGARDS
ADMIN LAIBA BUTT
MBA 4TH SEM ( FINANCE)
VUASKARI TEAM
JOIN US ON
www.vuaskari.com
www.universitiesportal.com
We are the ASKARIANS!!!! A Name of Quality
--
We say, "Be one as Pakistani Nation and grow up for Pakistan's Future". Wish you all the best. Join www.vuaskari.com,
To post to this group, send email to vuaskari_com@googlegroups.com
Visit these groups:
This (Main) Group:http://groups.google.com/group/vuaskari_com?hl=en?hl=en
MIT/MCS Group: http://groups.google.com/group/vu_askarimit?hl=en?hl=en
HRM Group: http://groups.google.com/group/askari_hrm?hl=en?hl=en
Banking Group: http://groups.google.com/group/askari_banking?hl=en?hl=en
Management: https://groups.google.com/group/vuaskari_mgt?hl=en
Marketing: https://groups.google.com/group/vuaskari_mkt?hl=en
MIS Group: http://groups.google.com/group/askari_mis?hl=en
--
We say, "Be one as Pakistani Nation and grow up for Pakistan's Future". Wish you all the best. Join www.vuaskari.com,
To post to this group, send email to vuaskari_com@googlegroups.com
Visit these groups:
This (Main) Group:http://groups.google.com/group/vuaskari_com?hl=en?hl=en
MIT/MCS Group: http://groups.google.com/group/vu_askarimit?hl=en?hl=en
HRM Group: http://groups.google.com/group/askari_hrm?hl=en?hl=en
Banking Group: http://groups.google.com/group/askari_banking?hl=en?hl=en
Management: https://groups.google.com/group/vuaskari_mgt?hl=en
Marketing: https://groups.google.com/group/vuaskari_mkt?hl=en
MIS Group: http://groups.google.com/group/askari_mis?hl=en
preety dollangel4u
preety dollangel4u
--
--
We say, "Be one as Pakistani Nation and grow up for Pakistan's Future". Wish you all the best. Join www.vuaskari.com,
To post to this group, send email to vuaskari_com@googlegroups.com
Visit these groups:
This (Main) Group:http://groups.google.com/group/vuaskari_com?hl=en?hl=en
MIT/MCS Group: http://groups.google.com/group/vu_askarimit?hl=en?hl=en
HRM Group: http://groups.google.com/group/askari_hrm?hl=en?hl=en
Banking Group: http://groups.google.com/group/askari_banking?hl=en?hl=en
Management: https://groups.google.com/group/vuaskari_mgt?hl=en
Marketing: https://groups.google.com/group/vuaskari_mkt?hl=en
MIS Group: http://groups.google.com/group/askari_mis?hl=en
No comments:
Post a Comment
PLEASE COMMENT ABOUT YOUR VISIT AND MY SITE
Note: Only a member of this blog may post a comment.