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Should Income Tax be applicable on gain or loss on a Sale & Leaseback Arrangement ? if applicable give the reason

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Question added by Sahebzada Muhammad Saqib , Manager Finance , Suzuki Riaz Motors
Date Posted: 2015/11/22
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Muhammad Tayyab Akhtar SYED
by Muhammad Tayyab Akhtar SYED , Assistant to Finance Manager , Gulf Coverage Insurance and Reinsurance Brokers

Well as per my knowledge 

 

Income tax is based on sales less returns . As If sales has tax x% and return is -X%. so tax will be the difference payable to legals.

regards

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