ROOT Question Calculation of rent chargeable to tax. Poceiek ou ke eh au cua sua nnCnis Cee ee Ue es ea eee ane Clue ato si Ce Re Cue Maa Cue k Sis mei ued sera OEE eee eS ue CRU CCC eGo eau CC Cu lar kmucens cc matter, promote critical thinking, and ensure that all relevant aspects of the topic are ProTifol tteCalculation of rent chargeable to tax. 1. The property was let out at a monthly rent of Rs. 150,000 from 1st July 2021 with a 10% annual rent increase. An advance of Rs. 1,500,000 was received as a non-adjustable advance. The property was vacated on 30th September 2024. Calculate the rent chargeable to tax for all relevant tax years ending on 30th June. 2. The property was let out at a monthly rent of Rs. 200,000 from ist October 2021 with a 15% annual rent increase. An advance of Rs. 1,200,000 was received as a non-adjustable advance. The property was vacated on 30th September 2024. Calculate the rent chargeable to tax for all relevant tax years ending on 30th June. 3. The property was leased at a monthly rent of Rs. 150,000 from July 1st, 2021, with a 10% annual rent escalation clause. A non-adjustable advance of Rs. 1,500,000 was received. The property was vacated on September 30th, 2024, and the non-adjustable amount was refunded. A new tenant leased the property at a monthly rent of Rs. 200,000 and provided a non-adjustable advance of Rs. 2,000,000. Determine the rent chargeable to tax for the tax years 2022 through 2026. 4, The property was leased at a monthly rent of Rs, 150,000 effective from July 1st, 2021, with a 10% annual rent escalation clause. A non-adjustable advance of Rs. 1,500,000 was received. The property was vacated on September 30th, 2024, and the non-adjustable amount was refunded, Later, on 1st November 2024, the landlord entered into a contract, for the sale of the property with a buyer who paid an advance of Rs. 2,500,000. However, due to the buyer's default, the contract was canceled on 31st December 2024, and the advance was forfeited. The property was leased to anew tenant at a monthly rent of Rs. 200,000 effective from January 1st, and @ non-adjustable advance of Rs. 2,000,000 was received. Determine the rental income chargeable to tax for the tax years 2022 through 2026. 5. The property was leased at a monthly rent of Rs. 100,000 effective from July 1st, 2021, with a 5% annual rent escalation clause. A non-adjustable advance of Rs. 500,000 was received. Fair Market value of rent was 150,000 with a 10% rent escalation and Rs 1000,000 non-adjustable advance. The property was vacated on September 30th, 2024, and the non-adjustable amount was refunded, The property was leased to a new tenant at a monthly rent of Rs. 250,000 effective from January 1st, and a non-adjustable advance ‘of Rs. 2,000,000 was received. Determine the rent chargeable to tax for the tax years 2022 through 2026. 1]Pa By: ZAHID QAVI FoA only0321.70317036. Mr. A owns a commercial property that is rented out to a company at a monthly rent of Rs, 100,000, The lease agreement specifies 2 5% increase in rent every year. An advance of Rs. 500,000 was received by Mr. A at the start of the lease. The company vacated the property on September 30th, 2022 and the non-adjustable amount was returned to them, Mr. A found a new tenant and the property was leased out at a monthly rent of Rs. 120,000 starting from 1st November 2022. The new tenant paid a non-adjustable advance of Rs. 800,000. However, the tenant defaulted on rent payments and vacated the property on 30th April 2023. Mr. A forfeited Rs. 240,000 from non-adjustable advance against unpaid rent and refunded the balance amount as per the terms of the lease agreement. Mr. A then leased the property to another tenant at a monthly rent of Rs. 130,000 starting from 1st June 2023. The new tenant paid a non-adjustable advance of Rs, 1,300,000. The property was again vacated on 30th September 2024, and the non- adjustable amount was returned to the tenant. Calculate the rent chargeable to tax for the tax years 2022 to 2025. 21P 0 By: ZAHID QAVI FoA only0321.7031703