(a) Regmi furnished you following particulars of income and expenses for the previous income year. Particulars Amount a. Rent from building let out…
BBS Taxation in Nepal · 2082 · Solved Question with Answer
(a) Regmi furnished you following particulars of income and expenses for the previous income year.
| Particulars | Amount |
| a. Rent from building let out after TDS | Rs. 180,000 |
| b. Rent from subletting of building let out after TDS | Rs. 450,000 |
| c. Interest received from financial institution | Rs. 100,000 |
| d. Interest received from unrecognized sector after TDS | Rs. 340,000 |
| e. Dividend received from resident company after TDS | Rs. 150,000 |
| f. Dividend received from foreign country after TDS | Rs. 200,000 |
| g. Mining rent from natural resources after [TDS Rs. 90,000] | Rs. 510,000 |
| h. Rent from plant and machinery let out after TDS | Rs. 90,000 |
| i. He received gain on sales of non-listed share in NEPSE | Rs. 200,000 |
Regmi claimed the following expenses to deduct.
a. Collection charge of building let out Rs. 10,000
b. Rent paid to subletting of building Rs. 120,000
c. Allowable depreciation of plant and machinery Rs. 10,000.
d. Life insurance premium Rs. 50,000
e. Previous year cumulative investment loss Rs. 50,000
Required:
a. Net assessable income from investment.
b. Statement of total taxable income
(b) Described the provision of withholding method of tax collection as per the Income Tax Act, 2058 with example.