Showing posts from February, 2014

How the income tax is recovered from the defaulters and refunded

Write a note on the following 1.Return of income in assessment 2.Ammendment in assessment 3.Provisional assessment 4.Assessment if return is not finished 5.Assessment of disputed property

Define the term Assessment and explain the procedure of filling the return under the income tax ordinance. Who should file the return and when it should be submitted

Explain the term Income from other sources with examples or What are the allowable deductions from Income from other sources

Define the term Capital gains and capital assets or What is the procedure of computing the capital gains also explain the deductions and exemptions

Explain the various types of depreciation allowances or Explain the conditions and rates regarding the depreciation 1. Initial depreciation 2. Normal depreciation

Explain the term depreciation or Discuss those conditions which are laid down under the ordinance for depreciation allowance

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