(a) Mr. Hari disclosed the following incomes and expenditures for the previous year. Dividend from resident company Rs. 25,000 Income from natural…
BBS Taxation in Nepal · 2081 · Solved Question with Answer
(a) Mr. Hari disclosed the following incomes and expenditures for the previous year.
Dividend from resident company Rs. 25,000
Income from natural resources Rs. 340,000 (net)
Royalty income Rs. 170,000 (net)
Interest from private money lending transactions Rs. 210,000
Interest from fixed deposit Rs. 9,500
Rent from house let out Rs. 180,000
Rent received by letting an asset Rs. 90,000 (after TDS)
Compensation received relating to investment Rs. 50,000
Dividend from foreign company Rs. 85,000
He claimed the following expenses for deduction:Donation to Pasupati Area Development Trust Rs. 50,000
Collection cost of natural resources income Rs. 1,000
Interest collection charge relating to money lending transactions Rs. 2,000
House rent collection charges Rs. 500
Collection cost of fixed deposit Rs. 400
Tax paid to foreign government Rs. 15,000
a. Assessable (Net) income from profession
b. Statement of taxable income
c. Tax liability
(b) Mention the conditions for an assesses to be resident person in case of natural person, partnership firm, trust and company.