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Minimum Tax Chargeable Calculation

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in Income Tax – Companies by
Receipts (FTR/Minimum) 2239080/-

Tax Collected 123149/-

Attributable Taxable Income 290832.4595

Tax on Attributable Taxable Income 12328

Difference on Minimum Tax Chargeable 110821/-

Can any one explain me the formula used by iris to calculate these figures

Thanks in Advance

1 Answer

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by (25.1k points)
It is apportioned between minimum taxes and adjustable taxes based on income sources.
Always make your own computations, as iris can glitch sometimes.

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