Case Study 1: CORPORATE TAX PLANNING - Dr.

Shahrukh Saleem Section-2

Compute tax liability from the following details

Amount
Roll No: 19691E00G1 (Rs.)
Particulars
Income from house property A 5,000
Loss from house property B -8,000
Income from interest on securities 20,000
Loss from a cycle business -20,000
Profit from speculation business 20,000
Loss from short-term capital asset 21,000
Long-term capital loss -6,000
Long-term capital gains from investments 21,000
Total Taxable Income
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

5,100 5,200 5,300 5,400

-3,000 -8,200 -3,100 -8,400 -3,200 -8,600 -3,300 -8,800 -3,400
20,200 20,400 20,600 20,800
-20,200 -20,400 -20,600 -20,800
20,200 20,400 20,600 20,800
21,000 21,000 21,000 21,000
-6,000 -6,000 -6,000 -6,000
21,000 21,000 21,000 21,000
-3,000 -3,100 -3,200 -3,300 -3,400
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

5,500 5,600 5,700 5,800 5,900

-9,000 -3,500 -9,200 -3,600 -9,400 -3,700 -9,600 -3,800 -9,800
21,000 21,200 21,400 21,600 21,800
-21,000 -21,200 -21,400 -21,600 -21,800
21,000 21,200 21,400 21,600 21,800
21,000 21,000 21,000 21,000 21,000
-6,000 -6,000 -6,000 -6,000 -6,000
21,000 21,000 21,000 21,000 21,000
-3,500 -3,600 -3,700 -3,800
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

6,000 6,100 6,200 6,300

-3,900 -10,000 -4,000 -10,200 -4,100 -10,400 -4,200 -10,600 -4,300
22,000 22,200 22,400 22,600
-22,000 -22,200 -22,400 -22,600
22,000 22,200 22,400 22,600
21,000 21,000 21,000 21,000
-6,000 -6,000 -6,000 -6,000
21,000 21,000 21,000 21,000
-3,900 -4,000 -4,100 -4,200 -4,300
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

6,400 6,500 6,600 6,700 6,800

-10,800 -4,400 -11,000 -4,500 -11,200 -4,600 -11,400 -4,700 -11,600
22,800 23,000 23,200 23,400 23,600
-22,800 -23,000 -23,200 -23,400 -23,600
22,800 23,000 23,200 23,400 23,600
21,000 21,000 21,000 21,000 21,000
-6,000 -6,000 -6,000 -6,000 -6,000
21,000 21,000 21,000 21,000 21,000
-4,400 -4,500 -4,600 -4,700
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

6,900 7,000 7,100 7,200

-4,800 -11,800 -4,900 -12,000 -5,000 -12,200 -5,100 -12,400 -5,200
23,800 24,000 24,200 24,400
-23,800 -24,000 -24,200 -24,400
23,800 24,000 24,200 24,400
21,000 21,000 21,000 21,000
-6,000 -6,000 -6,000 -6,000
21,000 21,000 21,000 21,000
-4,800 -4,900 -5,000 -5,100 -5,200
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

7,300 7,400 7,500 7,600 7,700

-12,600 -5,300 -12,800 -5,400 -13,000 -5,500 -13,200 -5,600 -13,400
24,600 24,800 25,000 25,200 25,400
-24,600 -24,800 -25,000 -25,200 -25,400
24,600 24,800 25,000 25,200 25,400
21,000 21,000 21,000 21,000 21,000
-6,000 -6,000 -6,000 -6,000 -6,000
21,000 21,000 21,000 21,000 21,000
-5,300 -5,400 -5,500 -5,600
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

7,800 7,900 8,000 8,100

-5,700 -13,600 -5,800 -13,800 -5,900 -14,000 -6,000 -14,200 -6,100
25,600 25,800 26,000 26,200
-25,600 -25,800 -26,000 -26,200
25,600 25,800 26,000 26,200
21,000 21,000 21,000 21,000
-6,000 -6,000 -6,000 -6,000
21,000 21,000 21,000 21,000
-5,700 -5,800 -5,900 -6,000 -6,100
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

8,200 8,300 8,400 8,500 8,600

-14,400 -6,200 -14,600 -6,300 -14,800 -6,400 -15,000 -6,500 -15,200
26,400 26,600 26,800 27,000 27,200
-26,400 -26,600 -26,800 -27,000 -27,200
26,400 26,600 26,800 27,000 27,200
21,000 21,000 21,000 21,000 21,000
-6,000 -6,000 -6,000 -6,000 -6,000
21,000 21,000 21,000 21,000 21,000
-6,200 -6,300 -6,400 -6,500
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

8,700 8,800 8,900 9,000

-6,600 -15,400 -6,700 -15,600 -6,800 -15,800 -6,900 -16,000 -7,000
27,400 27,600 27,800 28,000
-27,400 -27,600 -27,800 -28,000
27,400 27,600 27,800 28,000
21,000 21,000 21,000 21,000
-6,000 -6,000 -6,000 -6,000
21,000 21,000 21,000 21,000
-6,600 -6,700 -6,800 -6,900 -7,000
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

9,100 9,200 9,300 9,400 9,500

-16,200 -7,100 -16,400 -7,200 -16,600 -7,300 -16,800 -7,400 -17,000
28,200 28,400 28,600 28,800 29,000
-28,200 -28,400 -28,600 -28,800 -29,000
28,200 28,400 28,600 28,800 29,000
21,000 21,000 21,000 21,000 21,000
-6,000 -6,000 -6,000 -6,000 -6,000
21,000 21,000 21,000 21,000 21,000
-7,100 -7,200 -7,300 -7,400
Amount Amount Amount Amount Amount Amount Amount Amount Amount
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)

9,600 9,700 9,800 9,900

-7,500 -17,200 -7,600 -17,400 -7,700 -17,600 -7,800 -17,800 -7,900
29,200 29,400 29,600 29,800
-29,200 -29,400 -29,600 -29,800
29,200 29,400 29,600 29,800
21,000 21,000 21,000 21,000
-6,000 -6,000 -6,000 -6,000
21,000 21,000 21,000 21,000
-7,500 -7,600 -7,700 -7,800 -7,900