If a business individual has income less than 1million in the current year which is less than the last year , Please confirm whether we have to pay advance tax or Total tax by the end of year .
If after 3 years maturity, profit on National saving certificate more than 5 million, will be treat in normal tax, it will also be paid advance tax next time ? it will only one time after 3 years
@Faheem Mehboob sahib, according to Circular in 2017 on Bahbood savings/Pensioners benefit account , tax is to be paid at the time of filing of return not in advance , you have said in your lecture tax will be paid in advance how do you justify this. Explain
Sir kia karachi yani outside Punjab main bhi 7e yani deem income form main fair market value kia cost he likhi jaye jee karachi main out side punjab? Thanks sir
Assalamualaikum Sir ap ne kaha tha abi IT file na kren kuch din wait kren date extend ho gi. Lekin ap ne dobara is topic pr video nai banai... Kindly is baray mn video banaye return jama krayen ya wait kren aur portal pe mazeed koi masla hai ya nahi.. thanks
Ma salaried hun lekin mere stormfiber bill ma advance income tax b kata hai aur sales tax bhi. To ye kis codes ma enter hongay? Salaried ky lea advance income tax refund hojata hai?
As already discussed on whatsapp regarding advance tax .........kindly explian.....1- how to calculate advance tax for 2nd qtr (individual tax payer)...e.g latest tax =50000....using formula 50000/4=12500-B (tax already paid)....so in 2nd qtr ...the amount of Rs.12500 is already paid in 1st qtr ( july to sep 2023,for tax year 2024). will it be zero for 2nd qtr ? kindly explain.......regards Ali.
Dear Faheem Sb, I have seen your videos. MashAllah you explain very well. I have one question and I will appreciate it if you can respond: I have received notice u/s 147 and it shows total tax liability for the year Rs.80,000 and for this quarter is Rs.20,000. However, I have paid tax Rs.33,000 (deduction at source) for this quarter. Now I will put 33,000 in adjustments or just 20,000. When I put 33,000 it does not show 13,000 excess paid it just makes tax liability zero. instead. Please guide. Many thanks
What will the status of WH Tax deducted by the customer during the quarter. Is this deduction will consider as advance tax or not for that respective quater calculation.
Sir need clarification on sales tax on contractors/construction conyracts? Is 50M is the the lower limit to charge sales tax? Is it a provicial subject after 18th ammendment?
Sir, If tax deducted on supplies (sales) u/s (153 1(a)) then also we have to pay advance income tax (147). And if it is, what is its working to calculate. Regards,
AoA Thanks for the highly informative vlog. My question is why assesses not falling under Adv Tax section are being constantly served notices ( profit of Behbood and Pension Accounts with income less than 5 mn)
w.salam, actually this notice received all person, even salary person, because it is system generated document, so if not applicable, just reply online, that it is not applied on us
Good work bro, My question is Suppose, if a withholding agent miscalculate the tax of employee on income by mistake. please explain about this situation. who pay the tax difference withholding agent or employee and what is the consequences.
AOA- Received a notice of Advance Tax u/s 147, In PLS Saving Account Tax deducted after every six month along with bank profit, in that case how can we calculate/estimate Advance Tax u/s 147 in this scenario . Thanx
Aoa sir As I had asked earlier also in coments of your video lec about Punjab High Court decision in which you clarified that cost value & fair market value are to be filled same in the property of 7E form. Can we use this formula for Islamabad plots also or otherwise. Requested for reply.
Sir my saving account and NSC profit last year was more than 5 million, and FBR sent me advance tax 147 notice in December and March which I paid. So far no notice for June. Do I pay advance tax for june? For this year my profit on debt income will be more than 5 million. Please advise.
Sir, my income from profit on debt (bank savings account and NSC certificates) in 2023 was more than 5 million, so I paid under normal tax. I have received a notice under secion 147. How should I reply to the notice? Please guide
Asslamolaikum I am retired person. My source of income is only BEHBOOD CERTIFICATE .Yesterday i received notice U/S 147 to pay advance income tax.please guide whether i have to pay the same or not? Thanks
Sir, I have sold a property file ,declared as property asset in previous returns, with a Gain of 5 lakh, is this gain taxable? And where to show this gain in returns?
Sir Kayya 236 C Or 236 K Ko Next Year Jis Mayn Property Purchase Ke Ha Ya Sale Ke Ha Os Ko 2nd Year Ya 3rd Year Mayn Adjist Kayya Ja Saktha Ha Plz As Par Agar Koi Video Ha To Plz Woh Send Kar Dayn
@@faheempracticallearning Sir Agar Os Ko Pahley Saal Mayn Report He Nhi Kayya Patta He Nhi Taha Kay Ya Adjist Hota Ha To Os Par Next Ya 3rd Year Mayn Clim Kayya Ja Saktha Ha Ya Sawal Ha
Bast lecture faheem bahi
👍 👍
If a business individual has income less than 1million in the current year which is less than the last year , Please confirm whether we have to pay advance tax or Total tax by the end of year .
Assalamualaikum
Faheem bhai
Kya private limited company ki annual return or form every year secp mai deposit hotey hain ?
Bohat achi video❤
👍
AOA sir
May ny aik chez pochna ta k capital value tax on vehicles (CVT) adjustable ha k nh agr ha to IRIS may hum ny kaha py adjustment krni ha
If after 3 years maturity, profit on National saving certificate more than 5 million, will be treat in normal tax, it will also be paid advance tax next time ? it will only one time after 3 years
@Faheem Mehboob sahib, according to Circular in 2017 on Bahbood savings/Pensioners benefit account , tax is to be paid at the time of filing of return not in advance , you have said in your lecture tax will be paid in advance how do you justify this. Explain
@@hassanshahzad2484 tax need to pay in advance each quarter, as per section 147, if income received
Please reply at what stage tax has to be paid??
Sir g tax credit Kon sy lengy individual ki case man
150 151 152 154 155 section ki ly saky hy k nai
watch tax credit lecture, already explained
Sir kia karachi yani outside Punjab main bhi 7e yani deem income form main fair market value kia cost he likhi jaye jee karachi main out side punjab? Thanks sir
Assalamualaikum
Sir ap ne kaha tha abi IT file na kren kuch din wait kren date extend ho gi. Lekin ap ne dobara is topic pr video nai banai... Kindly is baray mn video banaye return jama krayen ya wait kren aur portal pe mazeed koi masla hai ya nahi.. thanks
Yes, wait extension will come
@@faheempracticallearning thanks sir...
Sir Ye confirm baat hai k date extend hogi?
Yes
I replied notices of quarterly advance tax but all are in the outbox please suggest what should i do ?
اگر مجھے بطور پر چیزر کسی سپلائر کو ایڈوانس پے منٹ کرنی ہو تو ایڈوانس دیتے ہوئے کون کون سے ٹیکسز چارج کرنے ہونگے؟ وڈ ہولڈ کرینگے یا نہیں؟
Ma salaried hun lekin mere stormfiber bill ma advance income tax b kata hai aur sales tax bhi. To ye kis codes ma enter hongay? Salaried ky lea advance income tax refund hojata hai?
Better to share the evidence, with your employer and adjust the income tax againt your salary deduction
As already discussed on whatsapp regarding advance tax .........kindly explian.....1- how to calculate advance tax for 2nd qtr (individual tax payer)...e.g latest tax =50000....using formula 50000/4=12500-B (tax already paid)....so in 2nd qtr ...the amount of Rs.12500 is already paid in 1st qtr ( july to sep 2023,for tax year 2024). will it be zero for 2nd qtr ? kindly explain.......regards Ali.
Jo hmara refundable prha Huwa Woh kidher jana phir ? In ko bhe abhe day day filer r refund bhe prha Huwa
Dear Faheem Sb,
I have seen your videos. MashAllah you explain very well. I have one question and I will appreciate it if you can respond:
I have received notice u/s 147 and it shows total tax liability for the year Rs.80,000 and for this quarter is Rs.20,000. However, I have paid tax Rs.33,000 (deduction at source) for this quarter.
Now I will put 33,000 in adjustments or just 20,000. When I put 33,000 it does not show 13,000 excess paid it just makes tax liability zero. instead. Please guide. Many thanks
All 33K, because it is actual, just report this, and in this case it is refundable, and to be adjust in next qtr
@@faheempracticallearning thanks..much appreciated
What will the status of WH Tax deducted by the customer during the quarter. Is this deduction will consider as advance tax or not for that respective quater calculation.
yes advance
Sir need clarification on sales tax on contractors/construction conyracts? Is 50M is the the lower limit to charge sales tax? Is it a provicial subject after 18th ammendment?
Sir,
If tax deducted on supplies (sales) u/s (153 1(a)) then also we have to pay advance income tax (147). And if it is, what is its working to calculate.
Regards,
147 pay Advnace tax notice for a salaried person, should we ignore?
Falt purchase Kiya year 2020 secoend flat sale kiya 2020 ma per return ma likh na bhol gaya ap year 2023 ma return ma kasa likh please guide karh
AoA
Thanks for the highly informative vlog. My question is why assesses not falling under Adv Tax section are being constantly served notices ( profit of Behbood and Pension Accounts with income less than 5 mn)
w.salam, actually this notice received all person, even salary person, because it is system generated document, so if not applicable, just reply online, that it is not applied on us
7B not applicable
is it also for senior citizens having income only from behbood certificates if income is more than 1.00 M from profit of the said certificate
Good work bro, My question is Suppose, if a withholding agent miscalculate the tax of employee on income by mistake. please explain about this situation. who pay the tax difference withholding agent or employee and what is the consequences.
employee, who received salary
@@faheempracticallearning Is it written in the Income Tax Ordinance? If yes then tell me about it. Page no ?
This is understood, if employees received salary and tax less deducted, remaining need to pay
@@faheempracticallearning so employee will pay the remaining tax by itself?
Yes, if not deducted
Sir advance tax 147 jama krwa dya tha Ab annual return ma kaisy adjust krain ??
in annual tax return, go to payment tab and press search, relevant CPR will be appeared
@@faheempracticallearning CPR available hai r adjust kaisy krna h
AOA- Received a notice of Advance Tax u/s 147, In PLS Saving Account Tax deducted after every six month along with bank profit, in that case how can we calculate/estimate Advance Tax u/s 147 in this scenario . Thanx
Mashallah jee
👍
AOA,
Sir please provide excel sheets for quarterly advance tax calculation and final tax calculation.
Aoa sir
As I had asked earlier also in coments of your video lec about Punjab High Court decision in which you clarified that cost value & fair market value are to be filled same in the property of 7E form. Can we use this formula for Islamabad plots also or otherwise. Requested for reply.
Sir my saving account and NSC profit last year was more than 5 million, and FBR sent me advance tax 147 notice in December and March which I paid. So far no notice for June.
Do I pay advance tax for june?
For this year my profit on debt income will be more than 5 million.
Please advise.
Sir but in case of AOP/COM notice received from FBR they avoid this A*B/C-D formula and tax compute on accounting profit what is that plz explain
Same explained in lecture, follow this formula
Sir, my income from profit on debt (bank savings account and NSC certificates) in 2023 was more than 5 million, so I paid under normal tax. I have received a notice under secion 147. How should I reply to the notice? Please guide
Make an estimate and reply if tax payable.
Asslamolaikum
I am retired person. My source of income is only BEHBOOD CERTIFICATE .Yesterday i received notice U/S 147 to pay advance income tax.please guide whether i have to pay the same or not?
Thanks
امپورٹر ايڈوانس ٹيکس کيسے ادا کرے گا اور کيسے ايڈجسٹ کرے گا
prepare profit and loss and apply tax rate, (-) tax paid at import stage and remaining need to pay
Sir, I have sold a property file ,declared as property asset in previous returns, with a Gain of 5 lakh, is this gain taxable? And where to show this gain in returns?
Yes taxation, pls watch capital gain lecture
@@faheempracticallearning thanks sir
Faheem Bahi a vehicle of 3 million is purchased for business,can its input be claimed?
What is the nature of business (
Manufacturing
Sir Kayya 236 C Or 236 K Ko Next Year Jis Mayn Property Purchase Ke Ha Ya Sale Ke Ha Os Ko 2nd Year Ya 3rd Year Mayn Adjist Kayya Ja Saktha Ha Plz As Par Agar Koi Video Ha To Plz Woh Send Kar Dayn
report in refundable tax, thn you can claim
@@faheempracticallearning Sir Agar Os Ko Pahley Saal Mayn Report He Nhi Kayya Patta He Nhi Taha Kay Ya Adjist Hota Ha To Os Par Next Ya 3rd Year Mayn Clim Kayya Ja Saktha Ha Ya Sawal Ha
@@sikandarraza7806 thn not claimable
@faheempracticallearning OR AGAR OS KO RETURN MAYN DALL DAYYA OR WOH REFUND BAN JAYE TO JAB TO CLAM HO JAYE GA YA NHI HO GA NEXT YEAR MAYN
@@sikandarraza7806 yes
Dear sir how to become active tax payer list not filed sales tax more than six months
File all returns, within 24 hours your status will be active
How doctors can respond this query. He has 25% salaried income and 75% service income u/s 153 1 (b).
Sir app ka office kha ha
❤
👌
Ye tax un Jahan governments logon ko facilitate kerti hy. Yahan TU awam ko Sirf lota jata hy. Gareeb awam ko mushkil mei Dala Howa hy.
😄
AoA sir Tax Rate is 1.5% or 1,25% ????
W.salam 1.25%
Sir loss wala clear nhi howa concept, please thora examples se samjae ge?
Assalamualaikum
Faheem bhai
Kya private limited company ki annual return or form every year secp mai deposit hotey hain ?
Sir g tax credit Kon sy lengy individual ki case man
150 151 152 154 155 section ki ly saky hy k nai
watch tax credit lecture, already explained
Sir g tax credit Kon sy lengy individual ki case man
150 151 152 154 155 section ki ly saky hy k nai
watch tax credit lecture, already explained
Sir g tax credit Kon sy lengy individual ki case man
150 151 152 154 155 section ki ly saky hy k nai
watch tax credit lecture, already explained
Sir g tax credit Kon sy lengy individual ki case man
150 151 152 154 155 section ki ly saky hy k nai
watch tax credit lecture, already explained