Binod is presumptive taxpayer has total turnover and income amount Rs. 3 million and Rs. 3 lacs respectively. Firm is situated in Pokhara Metropolitan City. What will be the tax payable of such…

Step-by-Step Calculation:

1. Turnover: Rs. 3,000,000 (given).
2. Presumptive Profit Rate (Service Sector): 32% of turnover. $3,000,000\times 0.32=\text{Rs. }960,000$.
3. Taxable Income: Turnover - Presumptive Profit = $3,000,000-960,000=\text{Rs. }2,040,000$.
4. Income Tax (25% of Taxable Income): $2,040,000\times 0.25=\text{Rs. }510,000$.
5. Municipal Tax (1% of Turnover for Pokhara Metropolitan City): $3,000,000\times 0.01=\text{Rs. }30,000$.
6. Total Tax Payable: $510,000-30,000=\text{Rs. }480,000$.

Final Answer: Rs. 480,000.