Income Tax

EXAMPLES ..
SALARY
Example 1
Mr. A is the employee of M/s ABC Ltd. Mr. A provided following particulars.
Compute his tax able income and tax liability for the Tax Year 2010
Basic salary 300,000

Bonus 20,000
House Rent Allowance 150,000
Conv eyance Allowance 12,000
Utilities Allowance 30,000
Medical Allowance 36,000
Tax deducted by the employer u/s 149 18,000
SOLUTION
Mr. A
M/s ABC Ltd.
Salaried Individual
Tax Year: 2010
COMPUTATION OF TAXABLE INCOME

Description Gross Exempt Taxable
Basic Salary 300,000 300,000 -
Bonus 20,000 20,000 -
House Rent Allowance 150,000 - 150,000
Conv eyance Allowance 12,000 - 12,000
Utilities Allowance 30,000 - 30,000
Medical Allowance 36,000 30,000 6,000
Total 548,000 518,000 30,000
Total Income 518,000
Less: Zakat -
Taxable Income 518,000
Notes:
1. Medical allowance is exempt upto 10% of Basic Salary. (Clause 139, Part I, 2nd Schedule)
COMPUTATION OF TAX LIABILITY

Taxable income 518,000
Tax payable 18,130
Less: Tax deducted by the employer u/s 149 (18,000)
Net Tax payable / (refundable) 130
1
Example 2
Mr. B is the employee of M/s BCD Ltd. Mr. B prov ided following particulars.

Bonus 20,000
Commission 125,000
Furnished accommodation with annual v alue 150,000
Life insurance premium paid by the employer 12,000
SOLUTION
Mr. B
M/s BCD Ltd.
Salaried Individual
Tax Year: 2010

Basic salary - 300,000 300,000
Bonus - 20,000 20,000
Commission - 125,000 125,000
Furnished accommodation 150,000 - 150,000
Utilities allowance 30,000 - 30,000
Medical allowance 36,000 30,000 6,000
Life insurance premium paid by the employer 12,000 - 12,000
Total 30,000 673,000 643,000
Less: Zakat -
Notes:
1. Annual v alue of accomodation is higher than 45% of Basic salary, so actual is taken. (Rule 4)
3. Life insurance premium paid by the employer is taxable.

Tax payable 28,935
Net Tax payable / (refundable) (6,065)
2
Example 3
Mr. C is the employee of M/s CDE Ltd. Mr. C prov ided following particulars.

Bonus 20,000
Commission 125,000
Furnished accommodation with annual v alue 130,000
Conv eyance provided for personal use (Cost Rs. 400,000) -
Tax paid on mobile phone u/s 236 800
Mr. C
M/s CDE Ltd.
Salaried Individual
Tax Year: 2010

Basic salary - 300,000 300,000
Bonus - 20,000 20,000
Commission - 125,000 125,000
Furnished accommodation 135,000 - 135,000
Conv eyance provided for personal use 40,000 - 40,000
Total 30,000 686,000 656,000
Less: Zakat -
Notes:
1. Annual v alue of accomodation is less than 45% of Basic salary, so 45% of BS is taken. (Rule 4)
2. Vehicle prov ided f or personal use, so 10% of the cost of v ehicle is taken. [Rule 5(ii)]

Tax payable 31,050
Less: Tax paid on mobile phone u/s 236 (800)
3
Example 4
Mr. D is the employee of M/s DEF Ltd. Mr. D prov ided following particulars.

Bonus 30,000
Un-furnished accommodation with annual v alue 160,000
Conv eyance provided for partial use (Cost Rs. 400,000) -
Leave Fare Assistance 20,000
Recognized Provident Fund .. Employer's contribution 40,000
Tax paid on mobile phone u/s 236 1,200
Tax paid with Motor v ehicle tax 1,000
SOLUTION
Mr. D
M/s DEF Ltd.
Salaried Individual
Tax Year: 2010

Basic salary - 400,000 400,000
Bonus - 30,000 30,000
Unfurnished accommodation 180,000 - 180,000
Conv eyance provided for partial use 20,000 - 20,000
Conv eyance allowance 36,000 - 36,000
Leave Fare Assistance 20,000 - 20,000
Provident Fund Employer's Contribution 40,000 40,000 -
Total 80,000 816,000 736,000
Less: Zakat -
Notes:
1. Annual v alue of accomodation is less than 45% of Basic salary, so 45% of Basic salary is taken. (Rule 4)
2. Vehicle prov ided f or partial use, so 5% of the cost of v ehicle is taken. [Rule 5(i)]
4. Employer's contribution in Recognized provident fund is ex empt upto 10% of Salary (excluding
perquisites & allowances) or Rs. 100,000 whichever is less. [Rule 3(a) Part I, 6th Schedule]
Tax payable 44,160
Less: Tax paid on mobile phone u/s 236 (1,200)
Less: Tax paid with motor vehicle tax (1,000)
4
Example 5
Mr. E is the employee of M/s EFG Ltd. Mr. E provided following particulars.

Bonus 30,000
Un-furnished accommodation (provided within factory premises of the employer) -
Conv eyance provided for business use (Cost Rs. 400,000) -
Qualification Pay 60,000
Recognized Provident Fund .. Employee's contribution 45,000
Interest credit on Provident Fund Account Balance Rs. 500,000 75,000
Tax deducted on cash withdrawal from bank u/s 231A 1,500
SOLUTION
Mr. E
M/s EFG Ltd.
Salaried Individual
Tax Year: 2010

Basic salary - 400,000 400,000
Bonus - 30,000 30,000
Conv eyance provided for business use - - -
Qualification pay 60,000 - 60,000
Provident Fund Employer's Contribution 45,000 40,000 5,000
Provident Fund Employee's Contribution - - -
Provident Fund Interest 75,000 75,000 -
Total 155,000 916,000 761,000
Less: Zakat -
Notes:
1. Annual v alue of accomodation is not given, so 45% of Basic salary is taken as minimum value. (Rule 4)
2. Vehicle prov ided only for business use, so nothing should be taken in the income of employee.
perquisites & allowances) or Rs. 100,000 whichever is less [Rule 3(a) Part I, 6th Schedule]
5. Provident fund employee's contribution, no treatment.
5
6 Interest on recognized provident fund contribution. "Interest credit on the balance is ex empt upto 1/3rd of
the salary or is allowed at the rate fixed by Federal Government in this behalf (i.e. 16%). If interest credited
exceed 1/3rd of the Salary or is allowed at a higher rate, the amount exceeding the salary of the said rate
shall be taxable". [Rule 3(b), Part I, 6th Schedule]

Tax payable 48,300
Less: Tax deducted on cash withdrawal from bank u/s 231A (1,500)
Net Tax payable / (refundable) 3,800
6
Example 6
Mr. F is the employee of M/s FGH Ltd. Mr. F provided following particulars.

Bonus 50,000
Un-furnished accommodation (provided within factory premises of the employer) -
Conv eyance provided for partial use (Cost Rs. 500,000) -
Medical reimbursement according to the terms of employment 145,000
Zakat paid under Zakat & Ushr Ordinance, 1980 5,000
SOLUTION
Mr. F
M/s FGH Ltd.
Salaried Individual
Tax Year: 2010

Basic salary - 500,000 500,000
Bonus (Treatment as separate block of income) - - -
House rent allowance 250,000 - 250,000
Conv eyance provided for partial use 25,000 - 25,000
Medical reimbursement 145,000 145,000 -
Provident Fund Employer's Contribution 52,000 50,000 2,000
Provident Fund Interest 115,000 112,000 3,000
Total 307,000 1,404,000 1,097,000
Total Income 1,097,000
Less: Zakat (5,000)
Taxable Income 1,092,000
Notes:
2. Vehicle prov ided f or partial use, so 5% of the cost of v ehicle is taken. [Rule 5(i)]
3. Medical reibursement according to the terms of employment is ex empt. (Clause 139, Part I, 2nd Sch.)
perquisites & allowances) or Rs. 100,000 whichever is less [Rule 3(a) Part I, 6th Schedule]
7
7. Zakat paid under Zakat & Ushr Ordinance, 1980 is deductible allowance (Section 60), so directly deducted
from total income of the taxpayer.
8. Bonus amount shall be treated as separate block of income and tax ed @ 30%. [Prov iso section 12(2)(a)]
Provided that any bonus paid or payable to corporate employees receiving salary income of one million
rupees or more (ex cluding bonus) in tax year 2010, shall be chargeable to tax at the rate provided in
paragraph (2) of Div ison I of Part I of the First Schedule (i.e. 30%)

Taxable income 1,092,000
Tax payable 109,200
Tax on bonus @ 30% 15,000
Total Tax payable 124,200
8
Example 7
Mr. G is the employee of M/s GHI Ltd. Mr. G provided following particulars.

Bonus 60,000
Fee for professional services 120,000
Accommodation prov ided with annual v alue 250,000
Entertainment Allowance 24,000
Conv eyance provided for personal use (Cost Rs. 750,000) -
Children Education Allowance 42,000
Medical reimbursement not in accordance with terms of employment 145,000
Interest free loan for daughter's marriage Rs. 300,000 -
Donation paid to recognized institution 45,000
SOLUTION
Mr. G
M/s GHI Ltd.
Salaried Individual
Tax Year: 2010

Basic salary - 600,000 600,000
Bonus (Treatment as separate block of income) -
Fee for professional services 120,000 - 120,000
Accommodation prov ided 270,000 - 270,000
Entertainment allowance 24,000 - 24,000
Children Education allowance 42,000 - 42,000
Medical reimbursement not in TOE 145,000 - 145,000
Provident Fund Employer's Contribution 60,000 60,000 -
Provident Fund Interest 210,000 144,000 66,000
Interest free loan (Bench mark rate 12%) 36,000 - 36,000
Total 204,000 1,647,000 1,443,000
Less: Zakat -
Notes:
2. Vehicle prov ided f or personal use, so 10% of the cost of v ehicle is taken. [Rule 5(ii)]
3. Medical reibursement not in accordance with the terms of employment is taxable
(Clause 139, Part I, 2nd Schedule)
4. Employer's contribution in Recognized provident fund is ex empt upto 10% of Salary (excluding perquisites
& allowances) or Rs. 100,000 whichev er is less [Rule 3(a) Part I, 6th Schedule]
9
7. Loan is made by an employer to an employee without prof it or the rate of prof it is less than the benchmark
rate (i.e. 12% for TY 2010), the amount of prof it at benchmark rate or the difference between the amount of
profit paid by the employee and the amount of profit computed at the benchmark rate as the case may be
shall be included in the income of the employee.

Tax payable 158,730
Less: Tax credit on donation Tax / Taxable income x Donation (4,950)
Tax payable 153,780
Tax on Bonus Rs. 60,000 @ 30% 18,000
Tax payable 171,780
Notes:
1. Donation paid to recognized charitable organization. Tax credit is av ailable u/s 61.
10
Example 8
Mr. H is the employee of M/s HIJ Ltd. Mr. H prov ided following particulars.

Leave pay 24,000
Payment in lieu of leaves 40,000
Ov ertime 38,000
Sales commission 80,000
Cost of Living Allowance 40,000
Subsistence allowance 24,000
Trav el allowance (Personal) 36,000
Reimbursement of Children Education ex penses 100,000
Vehicle transferred to employee on book value Rs. 200,000 (FMV: 275,000) -
Loan for construction of house Rs. 1,000,000 @ 5% pa 50,000
Amount receiv ed against 5 years job agreement 200,000
Tax paid on mobile phone u/s 236 800
Tax paid on residential telephone u/s 236 300
SOLUTION
Mr. H
M/s HIJ Ltd.
Salaried Individual
Tax Year: 2010

Basic salary 600,000 600,000 -
Leave pay - 24,000 24,000
Payment in lieu of leaves 40,000 - 40,000
Ov ertime - 38,000 38,000
Sales Commission 80,000 - 80,000
Cost of liv ing allowance 40,000 - 40,000
Subsistance allowance 24,000 - 24,000
Trav el allowance (Personal) 36,000 - 36,000
House rent allowance 275,000 - 275,000
Utilities allowance 60,000 60,000 -
Reimbursement of Children Education ex p. 100,000 - 100,000
Vehicle transferred on book value 275,000 200,000 75,000
Profit of loan (Benchmark rate) 70,000 - 70,000
Received against job agreement 200,000 - 200,000
Total 260,000 1,968,000 1,708,000
Less: Zakat -
11
Notes:
2. Loan is made by an employer to an employee without prof it or the rate of prof it is less than the benchmark
rate (i.e. 12% for TY 2010), the amount of prof it at benchmark rate or the difference between the amount of
profit paid by the employee and the amount of profit computed at the benchmark rate as the case may be
shall be included in the income of the employee.
3 Amount received on job agreement is tax able in the hands of employee[Section 12(2)(e)(i)]
4 Vehicle transferred to employee on book v alue Rs. 200,000 but the FMV was Rs. 275,000,
the difference of Rs. 75,000 will become taxable [Ref. Section 13(11)]

Tax payable 215,700
Less: Tax credit on loan for construction of house Tax / Taxable income x total profit (15,155)
Tax payable 200,545
Less: Tax paid on mobile phone u/s 236 (800)
Less: Tax paid on residential telephone u/s 236 (300)
Notes:
1. Profit paid on loan for construction of house. Tax credit is av ailable u/s 64. Total amount taken f or credit
(Actual Paid + added into the income of the employee on the basis of benchmark rate)
(Actual paid Rs. 50,000 added due to benchmark rate Rs. 70,000 total Rs. 120,000 av ailable for credit)
12
Example 9
Mr. I is the employee of M/s IJK Ltd (Unlisted company) and terminated on April 30,2009 under Golden
Handshake sheme. Mr. I prov ided following particulars. Compute his taxable income and tax liability for
the Tax Year 2010
Basic salary 1,000,000

Leave pay 60,000
Consideration for change in conditions of employment 150,000
Golden handshake payment 2,000,000
Interest credit on Provident Fund Account Balance Rs. 2,000,000 340,000
Pension receiv ed from former employer 240,000
Conv eyance provided for personal use (10 months) Cost Rs. 1,000,000 -
Accommodation prov ided (Annual Value Rs. 400,000) -
Medical re-imbursement according to the terms of employment 80,000
Medical allowance 100,000
Utilities allowance 100,000
Arrears f or Tax Year 2009 received (Opted to add in current year's income) 60,000
Driv er prov ided by the employer with monthly salary 6,000
Shares issued under Employee share scheme (FMV Rs. 90,000) Cost = 40,000 -
Received balance of prov ident fund 2,340,000
Gratuity received under unapprov ed gratuity scheme 800,000
Last three years av erage rate of tax 14%
Tax paid on residential telephone u/s 236 800
13
SOLUTION
Mr. I
M/s IJK Ltd.
Salaried Individual
Tax Year: 2010

Basic salary 1,000,000 1,000,000 -
Leave pay - 60,000 60,000
Change in conditions of employment 150,000 - 150,000
Golden handshake payment (as separate block of income) - -
Provident Fund Employer's contribution 100,000 100,000 -
Provident Fund Employee's contribution - - -
Interest on prov ident fund 340,000 320,000 20,000
Pension 240,000 240,000 -
Medical allowance 100,000 - 100,000
Arrears f or TY 2009 60,000 - 60,000
Driv er's salary - 60,000 60,000
Shares under Employee share scheme 50,000 - 50,000
Provident Fund Balance receiv ed 2,340,000 2,340,000 -
Gratuity received (as separate block of income) - -
Total 3,080,000 5,213,333 2,133,333
Less: Zakat -
Notes:
1. Consideration paid for any change in conditions of employment is taxable u/s 12(2)(e)(ii).
2. Golden handshake payment - option is avaialable with tax payer to add in the current year income or to be
taxed at an av erage rate of tax for preceeding three years. Section 12(6)
6. Pension received from former employer is exempt from tax under clause 8, Part I of second schedule.
7. Vehicle prov ided f or personal use, so 10% of the cost of v ehicle is taken for 10 months, because he
worked for 10 months. [Rule 5(ii)]
Basic salary is for 10 months so the v alue of accomodation is not apportioned to number of months
occupied.
9. Medical reibursement in accordance with the terms of employment is ex empt from tax .
10. Facility of medical actual reimbursement is prov ided in accordance with terms of employment, therefore
medical allowance is tax able.
14
11. Arrear received by a taxpayer .. Option is av ailable to the taxpayer to add in the current year's income
or add in the relev ant year for which arrears are paid, it depends on the tax liability. Section 12(7)
12. Driver or any other serv ant provided by the employer, the salary of the servant should be added to the
income of the employee. Section 13(5)
13. Shares issued under Employee Share Scheme, Section 14. The diff erence between Fair Market Value
of the share and the cost borne by the employee should be added to the income of the employee.
14. Balance amount receiv ed from Recognized prov ident fund is exempt. (Rule 4, Part I, 6th schedule)
15. Gratuity received from unapprov ed gratuity scheme is exempt upto Rs. 75,000 or 50% of the amount
of gratuity, whichev er is less. Remaining should be taxed at an av erage rate of tax for the preceeding
three years or added in the current year's income. Option is with the tax payer.

Tax payable on current year's salary 319,950
Tax on Golden handshake payment (Amount x 3 years' average rate) 280,000
Tax on Gratuity payment [(Amount-75000) x 3 years' average rate) 101,500
Total Tax payable 701,450
Less: Tax paid on residential telephone u/s 236 (800)
Notes:
1. Tax on Golden handshake payment is computed on the basis of preceding three years average rate
i.e. 14% as giv en in the question, if this amount is added in the current year's income then applicable tax
rate will be 22.08%. Section 12(6)
2. Tax on Gratuity payment from unapprov ed gratuity scheme is computed on the basis of preceding three
years average rate i.e. 14% as giv en in the question, if this amount is added in the current year's income
alongwith golden handshake payment then applicable tax rate will be 16.1%. (Circular # 17 of 1959,
Circular # 16 of 1967, C. # 4(23)-IT-3/77, 30/10/77)
15
Example 10
Mr. J is the employee of FBR under pay scale 25,000-3,000-35,000

Mr. J provided following particulars. Compute his taxable income and tax liability for the Tax Year 2010

Statutory Prov ident Fund .. Employer's contribution 40,000
Statutory Prov ident Fund .. Employee's contribution 40,000
Car prov ided for personal use Cost Rs. 500,000, Running & Maintenance cost borne
by the employer 30,000
Accommodation prov ided (Annual Value Rs. 150,000) -
Medical re-imbursement according to the terms of employment 80,000
Medical allowance 40,000
Utilities provided 48,000
Driv er prov ided by the employer with monthly salary 4,500
Sav ing out of TA/DA 40,000
Special additional allowance 20,000
Special allowance for official duties 50,000
SOLUTION
Mr. J
Central Board of Rev enue
Salaried Individual
Tax Year: 2010
Pay scale: 25,000 - 3,000 - 35,000

Basic salary - 372,000 372,000
Provident Fund Employer's contribution 40,000 40,000 -
Interest on prov ident fund 108,000 108,000 -
Medical allowance 40,000 40,000
Utilities provided 48,000 - 48,000
Driv er's salary - 54,000 54,000
TA/DA (Sav ing) 40,000 40,000 -
Special additional allowance 20,000 - 20,000
Special allowance for official duties 50,000 50,000 -
Total 318,000 1,052,000 734,000
Less: Zakat -
Notes:
1. This is Statutory Prov ident Fund for Government Departments. Amount received from this fund is ex empt
from tax under clause 22 of Part I of 2nd schedule. Therefore, no treatment is required during the y ear on
contribution and credit of interest.
2. Vehicle prov ided f or personal use, so 10% of the cost of v ehicle is taken. As well as running and
maintenance expenses are concerned no treatment is available in the rules, therefore not taken into account.
16
3. Accomodation provided - 45% of Basic salary is Rs. 167,400, but MTS is given so, 45% of MTS will be
taken and 45% of MTS i.e Rs. 135,000 is less than the actual value. So, actual value is taken.
5. Facility of medical actual reimbursement is provided in accordance with terms of employment, therefore
medical allowance is taxable.
6. Driv er or any othe serv ant provided by the employer, the salary of the servant should be added to the
7. TA/DA is exempt from tax, because it is paid for official duties. Reference Circular # 12 of 1980.
8. Special allowance for official duties is ex empt from tax under clause 39, Part I of 2nd schedule.

Tax payable 44,040
Net Tax payable / (refundable) (960)
17
Example 11
Mr. K is a full time teacher working with KLM College, a recognized educational institution
Mr. K prov ided f ollowing particulars. Compute his taxable income and tax liability for the Tax Year 2010

Payment in lieu of leave 30,000
Fee 124,000
Pension receiv ed from former employer 240,000
Conv eyance allowance 60,000
Accommodation prov ided within College premises -
Medical re-imbursement not in accordance with the terms of employment 90,000
Utilities provided by the employer 60,000
Home serv ant provided by the employer 60,000
SOLUTION
Mr. K
KLM College
Salaried Individual
Tax Year: 2010

Basic salary - 800,000 800,000
Payment in lieu of leaves 30,000 - 30,000
Fee - 124,000 124,000
Provident Fund Employer's contribution 100,000 80,000 20,000
Interest on Prov ident Fund 90,000 90,000 -
Pension 240,000 240,000 -
Conv eyance allowance 60,000 60,000
Accomodation provided 360,000 - 360,000
Medical reimbursement 90,000 - 90,000
Utilities provided 60,000 - 60,000
Home serv ant salary 60,000 - 60,000
Total 410,000 2,014,000 1,604,000
Less: Zakat -
Notes:
4. Pension received from former employer is exempt from tax under clause 8, Part I of second schedule.
18
6. Medical reibursement not in accordance with the terms of employment is exempt upto 10% of Basic
Salary. (Clause 139, Part I, 2nd Schedule)
7. Home serv ant provided by the employer, the salary of the servant should be added to the

Tax on salary 200,500
Less: Tax rebate (75%) Full time teacher [Clause (2) Part III, 2nd Schedule] (150,375)
Tax payable 50,125
Notes:
1. 75% tax rebate is available to full time teachers and researchers. Clause 2, Part III, 2nd schedule.
19
Example 12
Mr. L (Age 68 years) is a full time teacher working with LMN University, a recognized gov ernment owned
educational institution. Mr. L provided following particulars. Compute his taxable income and tax liability
for the Tax Year 2010

Fee 40,000
Conv eyance allowance 24,000
Medical re-imbursement in accordance with the terms of employment 68,000
Utilities allowance 20,000
SOLUTION
Mr. L
LMN University
Salaried Individual
Tax Year: 2010

Basic salary - 250,000 250,000
Fee - 40,000 40,000
Provident Fund Employer's contribution 30,000 25,000 5,000
Interest on Prov ident Fund 48,000 48,000 -
Conv eyance allowance 24,000 24,000
Total 141,000 480,000 339,000
Less: Zakat -
Notes:
20
Tax on salary 2,543
Less: Tax rebate (50%) Senior Citizen [Clause (1A), Part III, 2nd Schedule] (1,272)
Tax af ter 1st rebate 1,272
Less: Tax rebate (75%) Full time teacher [Clause (2) Part III, 2nd Schedule] (954)
Tax payable 318
Net Tax payable / (refundable) (937)
Notes:
1. 50% tax rebate is available to Senior Citizen age 60 years or more. Clause 1A, Part III, 2nd schedule.
2. 75% tax rebate is available to full time teachers and researchers. Clause 2, Part III, 2nd schedule.
21

Income Tax

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EXAMPLES ..

Basic salary 300,000

COMPUTATION OF TAXABLE INCOME

COMPUTATION OF TAX LIABILITY

Basic salary 300,000

COMPUTATION OF TAXABLE INCOME

COMPUTATION OF TAX LIABILITY

Basic salary 300,000

COMPUTATION OF TAXABLE INCOME

COMPUTATION OF TAX LIABILITY

Basic salary 400,000

COMPUTATION OF TAXABLE INCOME

Basic salary 400,000

COMPUTATION OF TAXABLE INCOME

COMPUTATION OF TAX LIABILITY

Basic salary 500,000

COMPUTATION OF TAXABLE INCOME

COMPUTATION OF TAX LIABILITY

Basic salary 600,000

COMPUTATION OF TAXABLE INCOME

COMPUTATION OF TAX LIABILITY

Basic salary 600,000

COMPUTATION OF TAXABLE INCOME

COMPUTATION OF TAX LIABILITY

Basic salary 1,000,000

COMPUTATION OF TAXABLE INCOME

COMPUTATION OF TAX LIABILITY

Mr. J is the employee of FBR under pay scale 25,000-3,000-35,000

Basic salary 372,000

COMPUTATION OF TAXABLE INCOME

COMPUTATION OF TAX LIABILITY

Basic salary 800,000

COMPUTATION OF TAXABLE INCOME

COMPUTATION OF TAX LIABILITY

Basic salary 250,000

COMPUTATION OF TAXABLE INCOME

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