BAF 4215 LEGAL AND TAX ISSUES FOR VENTURES INSTRUCTIONS Attempt all questions QUESTION ONE a) Mr. Ndiba is an employee of Panda limited received salaries for 2021 as follows: • Basic salary of Kshs 650,000 p.a. • A day and night watchman whose salaries were 5,000 and 6,500 respectively • Furniture was also provided at a cost of 180,000 • A car of 2000 cc that had an initial cost of Kshs 1,400,000 was also provided for his personal use i) The company paid his telephone bills that averaged Kshs 4000 per month • He was granted free company products valued at 3,500 p.m. Compute his taxable income for the year (10 marks)​