HOW TO TREAT LOANS IN PAKISTANI INCOME TAX|WHAT ARE THE PRERQUISITES FOR SUCESSFUL LOAN IN TAXATION

Section 39(3) Subject to sub-section (4), any amount received as a loan, advance, deposit 9[for issuance of shares] or gift by a person in 10[a tax year]from another person (not being a banking company or financial institution) otherwise than by a crossed cheque drawn on a bank or through a banking channel from a person holding a National Tax Number 11[ ] shall be treated as income chargeable to tax under the head “Income from Other Sources” for the tax year in which it was received.
Section 13(7) Where a loan is made, on or after the 1st day of July, 2002, by an employer to an employee and either no profit on loan is payable by the employee or the rate of profit on loan is less than the benchmark rate, the amount chargeable to tax to the employee under the head “Salary” for a tax year shall include an amount equal to-
the profit on loan computed at the benchmark rate, where no profit on loan is payable by the employee, or
(b) the difference between the amount of profit on loan paid by the employee in that tax year and the amount of profit on loan computed at the benchmark rate,
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[@yourroundabout8391]

i am saleem Aslam tax lawyer and found very effective information and legal reference, Thanks sir JAZAKA ALLAH.

[@taxationistcorporateconsultant]

Thanks 😊

[@ayazahmed399]

Sir mery walid sb sy loan lia hai for investment purpose.. How to show in returns?

[@amirmahmood1895]

very well explained

[@taxationistcorporateconsultant]

Welcome.

[@bossoftwareandtechnologies8731]

Thanks,
Sir, kindly person se loan leny k bare men aik . practical video b bana den.

[@ashrafali-hh7io]

NOT CLEARED. IS THE LONA WILL BE REFLECT IN RECONCILIATION OF WEALTH OR NOT THANK U SIR.

[@AlizaTahir-t3s]

Good video

[@TaxTalks122]

Thank you Sir, very useful post

[@taxationistcorporateconsultant]

You are welcome

[@irfanamjadsheikh7764]

Nice video jazakallah

[@shahzadyousaf5697]

AOA
Sir tax is applicable on loan the year of its withdrawal or till its recovery in future year.
I short this tax is for 1st year or till the recovery of loan?

[@urtaghalkhan6624]

Bank profit treatment and Regular income tax (national saving certificates) ki treatment bhi bataye.

[@asadullahpanhwar7447]

Iris portal par remaining loan balance likhna hai ya last year laon amount paid likhni hai ????

[@refaxpk]

Very informative video.....
I have one question regarding "amount received from brother in law". That how to show that amount in income tax return...? Also if any amount previously taken through bank, than how to return it to brother in law while filing..?
Kindly guide..

[@Abdulahad-by8ss]

my query is let's suppose I am a Government servant & took the amount of (2 million) Loan from NBP against Gold in July & the same was paid in September with interest in the same financial year means within two months I have returned the loan amount with interest to the Bank. where should I have to write the interest amount either PERSONAL EXPENSES or not. OR how many entries, I have to make & where.

[@rmfukt]

Hi
Kindly advise if someone is filer and gave a huge amount pkr 70 lac cash as loan and not declared in his returns then how can claim same.

[@urtaghalkhan6624]

Assalam u alikum. Me ne bc dali thi saving se ab wo majburan bank me deposite karwa diye han. Is ko kistarah treat karu. Loan show karu ya kuch or. Shukria ap k jawab ka intizar ha.

[@muhammadmalik7948]

Personal loan other than company ( from uncle) ka section pata chal sakta kia hai in income tax ordinance

[@taxationistcorporateconsultant]

39

[@muhammadejazthaheem3759]

AoA
Whether CEO can get loan from own company,if yes, in which section of income tax ord.2001 and reference SECP?

[@udharam3402]

I received loan through banking channel but loan lender did not show loan in his books or wealth . Who should be taxed i.e loanee or lender

[@ziasheikh8228]

Pls let me if any person given the loan to friend then interest income will be charged by lender

[@ziarehman902]

Sir please premier a video regarding inherited property taxstion

[@taxationistcorporateconsultant]

Noted

[@perveziqbal1290]

Sir have you made any video regarding CGT on sale of shares in stock exchange?If yes please provide link...If no then please make as son as possible....thanks....

[@miansaeed2001]

جس سے قرضہ لیا جائے وہ فائلر لازمی ھو؟

[@shakeelahmed5109]

Sir, AOA! my salary certificate shows HRA added in my income. Whereas I live in a requisition house. May I minus HRA from salary certificate?

[@TheAxisofRevolution]

Kisi ko loan given hojo next year return hoga? Konsay code me enter karainge?

[@akhlaqfaruqi5155]

Sir I am a govt employees. I received HBA from GOP. It is interest free. How do I show it in returns 23-24. Akhlaq

[@amirbhatti3929]

What is the maximum time for returning the loan

[@taxationistcorporateconsultant]

No time limit.

[@humakanwal7703]

What is the treatment of loan which company pay to Director?

[@taxationistcorporateconsultant]

Same

[@humakanwal7703]

A DCIR ask us that the loan to the director or receivable from director treat as a dividend.

[@saleembaig5104]

I got loan from my son through pay order. how can i concile where to show in return?

[@muhammadbilalsikandar144]

Gift

[@syedhadiali8888]

Any tax on gifts?​@@muhammadbilalsikandar144