income tax payable/(repayble)

This topic has 4 replies, 3 voices, and was last updated 10 years ago by sabahat.

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May 29, 2015 at 11:27 am #250161
sabahat
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income tax liability is 100
tax deducted from source on dividend is 1100
dividend gross amount is 11000
why is it not repayble…..kit shows the answer is nil
if it is negative then 1000 should be repayble? clear the doubt please
May 29, 2015 at 12:43 pm #250203
Hareem sikandar
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Dun know , but a negative figure could be created , repayment is possible in this case
There isnt any examiner comment aur tutorial note ??
May 30, 2015 at 8:10 am #250422
sabahat
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but kit showsss the nil answer
May 31, 2015 at 8:45 am #250816
Tax Tutor
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See OT course notes page 7, Chapter 2, section 2.4
moavia94 has the right answer but you can read more detail in above reference
May 31, 2015 at 3:05 pm #250985
sabahat
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thnx a lot for being there whenever i need u guys……
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