ALLAMA IQBAL OPEN UNIVERSITY, ISLAMABAD

(Department of Commerce)

WARNING

1. PLAGIARISM OR HIRING OF GHOST WRITER(S) FOR SOLVING THE ASSIGNMENT(S) WILL DEBAR THE STUDENT FROM AWARD OF DEGREE/CERTIFICATE, IF FOUND AT ANY STAGE.
2. SUBMITTING ASSIGNMENT(S) BORROWED OR STOLEN FROM OTHER(S) AS ONE’S OWN WILL BE PENALIZED AS DEFINED IN “AIOU PLAGIARISM POLICY”.

Course: Taxation Management (8531) Semester: Spring, 2025

Level: M. Com/BS

Total Marks:100 Pass Marks: 50

ASSIGNMENT No. 1

(Units: 1–4)

Q. 1 Discuss in detail the taxation of income from property under the Income Tax Ordinance 2001. (20)

Q. 2 (a) What is withholding tax? Explain the legal provisions as per the Income Tax Ordinance 2001. (10)

(b) Compute the tax liability of a registered firm XY where X & Y equal partners are working. (10)

Additional information:

Q. 3 (a) Calculate the tax liability of M.Y Ltd from the following records: (10)

Additional Information:

(b) What are the requirements for the income tax return filing under the Income Tax Ordinance 2001. Explain in detail. (10)

Q. 4 Mr. Raheem has reported the following transactions for the tax year 2018. (Tax rates are given at the end of the assignment): (20)

Q. 5 (a) Calculate Sales Tax Due/Refundable in each case: (10)

GEE Ltd a registered manufacturer has reported the following transactions for December for the calculation of sales tax:

(1) Supplies to registered person Rs. 12,00,000.

(2) Supplies to an NGO Rs. 100,000.

(3) Supplies to non-registered persons at a discount (5%) Rs.80, 000.

(4) Supplies to registered government supplies Rs. 100,000.

(5) Purchases from registered persons Rs. 500,000.

(6) Imports of raw materials Rs. 40,000.

(7) Purchases from non-registered persons on discount (10%) = Rs.50, 000

(8) Sales tax refund due

(b) Explain in detail the key features of the Customs Act 1969. (10)

Total Marks:100 Pass Marks: 50

ASSIGNMENT No. 2

Select one of the following topics according to the last digit of your roll number/ID. For example, if your roll number/ID is P-3427180 then you will select issue # 0 (the last digit): -

Topics:

1. Do indirect taxes contribute to inflation in Pakistan?
2. Key features of the Federal Excise Duty Act 2005
3. Is taxation in Pakistan regressive in nature?
4. Tax evasion in the companies of Pakistan
5. Super tax on the incomes of banking companies in Pakistan
6. The future of property taxation in Pakistan
7. FBR, a facilitator or a hurdle in the revenue collection?
8. Alternate tax dispute resolution mechanism and its effectiveness in Pakistan
9. The prospects of tobacco taxes (sin tax) in Pakistan
10. The benefits of the E-Filing system of the FBR

The report should follow the following format:

1. Title page
2. Acknowledgements
3. An abstract (one-page summary of the paper)
4. Table of contents
5. Introduction to the issue (brief history & significance of issue assigned)
6. Detailed arguments with supporting data
7. Conclusion (one-page brief covering important aspects of your report)
8. Recommendations (specific recommendations relevant to the issue assigned)
9. References (as per APA format)
10. Annexes (if any)

GUIDELINES FOR ASSIGNMENT # 2:

• 1.5 line spacing
• Use headers and subheads throughout all sections
• Organization of ideas
• Writing skills (spelling, grammar, punctuation)
• Professionalism (readability and general appearance)
• Do more than repeat the text
• Express a point of view and defend it.

Schedule of Income Tax Rates for the Tax Year 2024-25

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