Faheem bhai, aik video Property Sale ki return filing ke oper bhi bana dein. Example is: Property Sold after 8 Years of acquisition. No CGT applicable. FBR Value of Property is: 1 crore, sold @ 1.5 crore. Amount received in Bank Account. 236-C paid @ 3% of 1 crore (FBR Value) and Sale Deed registered @ 1 crore (FBR Value).
I think your videos are the best explained guides in Pakistan for tax purposes. Please keep up the good work! There is some confusion over the tax slabs for rental income. The slabs you that you have mentioned in the video are withholding tax slabs, but income tax slabs in IRIS are different. Can you please clarify this issue?
Very informative video. Please make a video on Agriculture income tax and if someone is Salary, agriculture and services income . Waiting for your video
Your videos are highly recommended and very explanatory. I have humble request. I am government Contractor and have company account. I own many government contracts from different departments. When I receive a cheque from any department for my contract. The department deducts the Income Tax and Sindh Revenue Board tax. Kindly make a video on how a government Contractor can submit their annual income tax returns. I will be very thankful.
sir... rent ki ager gross amount wealth statement me likh deyein aur jo 1/5th allowed hey wo exempt/final me likh ker reconciliation ker saktay hain ? ... property per sometimes 20% se kam expense bhi hotay hain ya kabhi zayada bhi... tou just asking for filling WS
Sir, when 1/5th deduction available, if we never utilised any expense against tear and wear, then the amount of 1/5th become the part of cash inflow and become the part of wealth?
All your videos are very helpful and provide full guidance to newbies. I have a question for you if you kindly reply, does this procedure is also for salaried person? And if a govt employee himself drawing hiring payment of house rent (self hiring), the same procedure would also be applied in his salary return? Please do reply. Thanks
How you calculate tax of 12000 when income is 760000 and kindly also guide whether property tax is deducted as deduction from property income or it is deducted from final income tax calculated.
Fahim Bhai the way you explain and cover everything is highly impressive... Please make a video on business income for distributors and commercial importers Besides, Can you share this excel file to me
Very informative video, I have a small question, I have purchased property via bank and also given on rent, I have to pay to bank including rental income and insurance, would this amount is also deducted from the rental income which is more than I have to received.
Faheem Sahib ... I am a salaried person and need ur advise . After entering total rental amount and 20% deduction; how to enter 300000 expemption in the IT form ... Then I drew DP fund (non-refundable) twice to pay children College fee ... how these advances will be entered in the return where they don't appear as taxable income ... Kind regards
I have rental income from property and I pay property tax around 32000 yearly. But property tax PT10 Challan is on other person’s name I bought property from. Can I still adjust this property tax in property expenses because I pay this tax using my bank account?
appreciated and informative please guide us on kp excise property tax they charge us 15 percent on gross rent and don't give us deduction like income tax is that fair
Aoa, If a house / property value is reduced, under what head reduction in property value is shown in FBR tax return? (Property is still owned by the person).
As.salamolikm Sir, 1/5 repair wala deduction agr mai minus na karun rent sy and baqi deduct kr k reconciliation mey ly jaun as a inflow then ? q k actual mey zaruri to nhi utna hi mera expense repair py laga ho so agr nhi laga to mai q apna wealth kam karun us expense ki waja sy jo actual mey huwa hi nhi ... kindly apni qeemti rai share ki jiye ga
A Salaried person (Govt Employee) may also receive Hiring Amount i.e. Rent for the property he owns and is living in. That amount is received after being taxed at source @ 5% and certificate is issued. But when the rent amount is added in property in the return, it calculates a much higher tax than 5%. what's the solution?
@faheempracticallearning sorry for disturbing you but there is fbr circular no 01 of 2024-25 dated 29th July 2024 the slabs mentioned there is different and too high as compared to previous FY I am confused
@@fragileheart9640 IRIS reporting all about law, every box, have some history of law, without understanding how we can put? This is proper way to file tax return, otherwise even for me it's easy to just explain directly on IRIS, whatever right or wrong.
@@faheempracticallearning sir na tu payment mery bank account aai. parents ny properly mery nam buy ki, maery nam he fee pay ki, ab wo property and peroperty ki amount kkisy addd krni
Is property income tax is separate slab or have to add property & salary income together to calculate income tax if some one have salary from income also .
Aoa Sir kindly guide me how can I submit IT return I am a doctor and work in private hospital with No fixed salary . They pay us on daily basis in some months I work for 15 days some times 21 days in a month. How I have to proceed. Pl guide
Excellent sharing the valuable information. ❤
👍
MashAllah .faheem bhai u really explain comprehensively
@@Adnanbhatti788 👍
Masha allah good
@@khansaab3244 👍
Faheem bhai, aik video Property Sale ki return filing ke oper bhi bana dein. Example is: Property Sold after 8 Years of acquisition. No CGT applicable. FBR Value of Property is: 1 crore, sold @ 1.5 crore. Amount received in Bank Account. 236-C paid @ 3% of 1 crore (FBR Value) and Sale Deed registered @ 1 crore (FBR Value).
@@hasanmunir7330 yes sure
I think your videos are the best explained guides in Pakistan for tax purposes. Please keep up the good work!
There is some confusion over the tax slabs for rental income. The slabs you that you have mentioned in the video are withholding tax slabs, but income tax slabs in IRIS are different. Can you please clarify this issue?
Withholding and chargeable different, for income business rates applicable
Nice one
👍 👍
Very informative video. Please make a video on Agriculture income tax and if someone is Salary, agriculture and services income . Waiting for your video
@@umarhayat8429 yea sure
Your videos are highly recommended and very explanatory. I have humble request. I am government Contractor and have company account. I own many government contracts from different departments. When I receive a cheque from any department for my contract. The department deducts the Income Tax and Sindh Revenue Board tax. Kindly make a video on how a government Contractor can submit their annual income tax returns. I will be very thankful.
Yes sure
Very informative video sir instalment pr lia plot ko kese deal krengay ispr video banao
Yes sure
Great work sir,thanks
@@mehboobalam6447 👍
Please make a video on final fixed of trading and services waiting for your video 😊
@@UsamaHussain95 yes sure
sir... rent ki ager gross amount wealth statement me likh deyein aur jo 1/5th allowed hey wo exempt/final me likh ker reconciliation ker saktay hain ? ... property per sometimes 20% se kam expense bhi hotay hain ya kabhi zayada bhi... tou just asking for filling WS
Well Explained. Please make a video for 236C & 236K for Non-Residents
@@DilshadRVirk yes sure
Sir, when 1/5th deduction available, if we never utilised any expense against tear and wear, then the amount of 1/5th become the part of cash inflow and become the part of wealth?
Yes report in exempt same
Match total
All your videos are very helpful and provide full guidance to newbies.
I have a question for you if you kindly reply, does this procedure is also for salaried person? And if a govt employee himself drawing hiring payment of house rent (self hiring), the same procedure would also be applied in his salary return?
Please do reply. Thanks
Sir ager plot purchase kiya he out advance tax and stamp duty etc diya he to us ko kese show kerain gain?
Advance tax under adjustable and stamp duties all part of expenses
How you calculate tax of 12000 when income is 760000 and kindly also guide whether property tax is deducted as deduction from property income or it is deducted from final income tax calculated.
Fahim Bhai the way you explain and cover everything is highly impressive...
Please make a video on business income for distributors and commercial importers
Besides, Can you share this excel file to me
@@rizwanchandiwala yes sure
@@rizwanchandiwala 👍
Faheem last year car add ki thi to is year bhi usko show Karna pary ga
Very informative video, I have a small question, I have purchased property via bank and also given on rent, I have to pay to bank including rental income and insurance, would this amount is also deducted from the rental income which is more than I have to received.
insurance is deductible, if really related to property
Agriculture heredity land only capital assets m likh do or surcharge submit kr do done ho jye ga ya or b kch likhna h
@@Samyyy631 for this pls watch 7E lecture for complete understanding
@@faheempracticallearning Alright thank you
@@Samyyy631 👍
Sir business ki return ki video bnaye.
Yes sure
Faheem Sahib ... I am a salaried person and need ur advise . After entering total rental amount and 20% deduction; how to enter 300000 expemption in the IT form ... Then I drew DP fund (non-refundable) twice to pay children College fee ... how these advances will be entered in the return where they don't appear as taxable income ... Kind regards
I have rental income from property and I pay property tax around 32000 yearly. But property tax PT10 Challan is on other person’s name I bought property from. Can I still adjust this property tax in property expenses because I pay this tax using my bank account?
Business income tax return first time return and assets declaration in 2024 pe video bna dein ?
Yes sure.
@@faheempracticallearning thanks
@@MuhammadBilal-km1ki 👍
appreciated and informative please guide us on kp excise property tax they charge us 15 percent on gross rent and don't give us deduction like income tax is that fair
dedution available
@@faheempracticallearning i studded their bylaws online they have no provision if any please inform in video for the benefits of others also
I am a filler.
I had purchased a plot of 5 marla in 8 lakh kia mujhy ab koi salana tex pay krna hoga
Sir property value agr tab m na likhi jae tb b chalan form submit ho jye ga?
But we must have some property, otherwise how to take and report rental income
@@faheempracticallearning Okay
@@Samyyy631 👍
@@faheempracticallearning Thank you🙂
@@Samyyy631 👍
Can we adjust children's university fees in our income tax return?
A.o.A I will fill un ballot plot Dha Lahore but statement shown Dha Islamabad pH 13 kindly resolve
AOA..Thanks for the useful information...Could we deduct, previous financial year extra tax paid..Thanks
w.salam in relevant period we can adjust the tax paid
Aoa, If a house / property value is reduced, under what head reduction in property value is shown in FBR tax return?
(Property is still owned by the person).
W.salam any increase or decrease in value, will report in the form of gain or loss at the time of sale, every year not update
I have a question regarding salary taken as per Section 42. How to show that income during filing tax returns
@@muhammadumaraslam2298 watch salary lecture
I have seen the complete lecture but there is no information mentioned about how to file income as per section 42 in IRIS @@faheempracticallearning
I have seen the complete lecture but there are no details regarding filing income as per section 42 on IRIS. Where should I show it on IRIS?
@@muhammadumaraslam2298 watch salary lecture
1 Month Brokery Fees paid to broker for bringing tenant, Can we deducted in Other deduction against rent.
As.salamolikm Sir, 1/5 repair wala deduction agr mai minus na karun rent sy and baqi deduct kr k reconciliation mey ly jaun as a inflow then ? q k actual mey zaruri to nhi utna hi mera expense repair py laga ho so agr nhi laga to mai q apna wealth kam karun us expense ki waja sy jo actual mey huwa hi nhi ... kindly apni qeemti rai share ki jiye ga
@@JawadKhan-fw7tm report in exempt inflow
@@faheempracticallearning jazakAllah for your opinion Sir
@@JawadKhan-fw7tm 👍
ایک سال کے دوران اگر پراپرٹی خرید کر بیچ بھی دیں۔ٹیکس ریٹرن میں اسکا اندراج کیسے کریں
For this we just need to report gain and loss if any
@@faheempracticallearning That means we should not show this type of property in our assets
A Salaried person (Govt Employee) may also receive Hiring Amount i.e. Rent for the property he owns and is living in. That amount is received after being taxed at source @ 5% and certificate is issued. But when the rent amount is added in property in the return, it calculates a much higher tax than 5%. what's the solution?
It combines rental income with salaried income and calculates the tax. I guess the only solution is to not file for the rental income
and payment of liability treated as income
ground rent elaborate please
It js also part of expenses
Faheem bhai what is the tax slab on rental income Fy 2024-2025?
Withholding same no change
@faheempracticallearning you mean to say it's same as of Fy 2023-2024?
@@hasanjalil8334 yes
@faheempracticallearning sorry for disturbing you but there is fbr circular no 01 of 2024-25 dated 29th July 2024 the slabs mentioned there is different and too high as compared to previous FY I am confused
@@hasanjalil8334 withholding same, chargabilty changed
کرایہ کے علاوہ جو سیکورٹی کی رقم لی ھو وہ کسی جگہ لکھیں؟؟
@@miansaeed2001 in wealth, as advance
@@faheempracticallearningno sir property ma hi 1/10 of amount not adjustable against rent ma entry ho gi
@@miansaeed2001 yes as per law need to pay
❤
@@raheelwaheed8366 👍
Better do it in IRIS from scratch, even if you want to homework in excel. Common person perspective as end product is IRIS form not excel
Law is not common; we need to understand step by step all step/process
@faheempracticallearning law is for everyone :) no use of understanding if values can't be properly incorporated in IRIS
@@fragileheart9640 IRIS reporting all about law, every box, have some history of law, without understanding how we can put? This is proper way to file tax return, otherwise even for me it's easy to just explain directly on IRIS, whatever right or wrong.
Pls share these excel sheet format
@@theskynews2446 👍
4% se zaida rent collection charges ni ho skty?
No
As per law. We can claim maximum 4%
Property TaX deduction kahan show karein
@@muhammadwaqas9787 already explained, pls watch
Sir how to file tax return for a laboure ?
?
@@faheempracticallearning sir mazdoor apni return kesy file kry ga... Wo log jo dehari wegra laga kr kamaty hn
how to gift property or gift amount
Amount must be via banking channel and for property there must be gift deeds, dully signed by both parties
@@faheempracticallearning and if family mamber buy property for you name then and you pay the tax
@@nazaratbranch2851 yes
@@faheempracticallearning sir na tu payment mery bank account aai. parents ny properly mery nam buy ki, maery nam he fee pay ki, ab wo property and peroperty ki amount kkisy addd krni
If a person receives rent 600000 annual
After 20% deduction 120000 = 480000
In wealth reconciliation statement what amount enter 600000 or 480000
@@ziacompany8023 better to report 480K
Some amount will be written in wealth reconciliation statement in inflow section head(ie amount exempt from tax) from property income
@@haroonansari1235 yes we can also mentioned, if actually repairs and maintenance is less
@@haroonansari1235 agreed
Is property income tax is separate slab or have to add property & salary income together to calculate income tax if some one have salary from income also .
Aoa Sir kindly guide me how can I submit IT return I am a doctor and work in private hospital with No fixed salary . They pay us on daily basis in some months I work for 15 days some times 21 days in a month. How I have to proceed. Pl guide
Same process, club all your income in one sheet and report same, as explained in lecture
,1/5 of rent all so in my bank you have not describe this 11:34
amount how to make my wealth part of this well black.
Report in normal and exempt income in wealth
Please share excellent sheet
@@shajaisaleem5909 👍
AOA, thank you for the detailed video. i would like to know whether you can be hired to file tax returns for individuals?
W.salam yes our paid services available
03007574731 pls contact