Re: ::: vuaskari.com ::: FIN623 TODAY'S PAPER

can u tell me ka 3rd semester mba main kitna required courses hota hain or kitna specialization ka laina hota hian?

2011/5/23 ●๋•ιмяαη αℓι●๋• <candle.in.winds@gmail.com>

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

==============================================================

Imran Ali,

MBA 4th (Finance),

"The Hardest Part About Losing Love;  IS FINDING YOUR WAY BACK".

ali_g_sha@yahoo.com

===============================

On Mon, May 23, 2011 at 11:45 AM, Rameen Rameen <preetydoll.rameen6@gmail.com> wrote:

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/-

 

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preety doll

angel4u

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preety doll

angel4u

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