Hi, I received a 147 Notice for July-September 2023, I’m a salaried person and have some properties on which I’m getting rental income, rental income itself is more than 1 million/year that’s why I received a notice to submit advance tax. The issue is that the amount they mentioned in 147 notice contains the calculation of whole income(Salary+Rent), Tax is already deducting from my Salary each month so I’m not eligible for Salary part but for the rental income, the yearly tax is hardly 3 lacs which I can pay at the end of the year… how can I reply to this notice as I received to pay around 3 lacs just for first quarter of 2023 which will make 12 lacs at the end of year but technically I just have to pay 3 lacs in total for rental income, please send me a draft for this notice. Thanks
@@faheempracticallearning But as you mentioned in other videos that if Data tab contain values then it’s eligible to pay, my notice contain values in Data tab… Also, I pay the tax of rental income at the end of year, my tenants doesn’t pay during the year…
Sir mujhe 147 ka notice aya hai hard copy mein aur us mein tax liability calculate Ki Hui hai only tax paid in advance ka column blank tu puri calculation aap ke lecture ke according Karon ya only tax paid in advance show jo meri company ne pay KIA hau
@@faheempracticallearning thank you for reply. I have seen that video but our issue is that we are transferring our money through payoneer and bank is unable to deduct 1% or .25% because there is some temporary channel between them like jazz microfinance etc. So what to do in that case
I always file annual return for AOP, and never received any notice. But now i have received notice to file advance tax return for Q1 2021...... In last year (2020) return, total tax paid was 4000, but in tax notice of Q1 2021, they have estimated tax of just 1 quarter PKR 20000, please guide
Faheem bhai please guide in case of individual commercial importer if he pays advance tax as per working in quarters and at the year end if tax amount is paid more can he show that anount is refund or not? Wheter it will shown in refund amount or it will considered part of minimum tax?
Sir, In 2023 my profit on debt ( bank saving account and NSC certificates) was more than 5 million so I paid under normal tax. Now I have received advance tax notice 147. Do I have to pay advance tax?
Sir, please advise if a pensioner gets a notice to pay advance tax under 147 despite he/she has only source of income is NSC along with pension. Thanks
Sir what could be the reason for that notice when advance tax is exempt for NSC and pension income. Do we have to reply by giving relevant reference or just ignore. Please advise
Sir! I received a notice for submission of advance tax under section 147 and I have submitted a reply to this notice after depositing of advance tax. But the answer to the notice is still shown in the outbox. Now the amount paid is nowhere to be seen in the 2021 return. Please guide how the advance tax amount will be adjusted.
Sir remove confusion about difference between Advance Tax and With holding adjustable tax . 2nd question : under section 236K purchase of property which tax is require Advance or WHT adjustable?
Sir, If a commercial importer received a notice U/S 147 . He already paid the Minimum Tax at the time of import which is already greater than the normal tax liability. He didn't purchase anything domestically. Do he need to pay this advance tax ?
thank you sir. one person is demanding 5K just for this reply. very nice.
Jazak Allah khair sir. You saved consultant fee sir 🤲🤲🤲 even my seniors didn't guide in CA firm. Thank you. 🤲🤲🤲🤲🤲🤲
😉
Excellent breifing on advance tax reply
Jazak Allah
VERY NIC FAHEEM SB
Jazak Allah
Excellent teaching,. جزاک اللّہ
Respect & Love 😍
Stay Blessed Sir!
Jazak Allah
Very informative.Thankyou
Jazak Allah
hello sir ,why refundable income tax is not adjusting this year.
Check channel latest lecture already have on this topic
Very much helpful video. Thanks
Jazak Allah
Salary person ko bhi received horahe hain sir ... Notice uska kia reply kerain?
Dear sir,
Hard copy bhi share karni hai kia, commissioner ko,....?
Online reply is ok, but better to share hard copy also
Sir application submit ki ha tw outbox ma agyi ha tw completetax ma kb tk ajti ha? Or ye application RTO ma bi submit ki jaye?
Assalam o alaikum brother, kindly guide Kijiay ga, Kia aik NGO Ka 147 , turnover pa Jama krwain gy Kia, thanks alot, agr 100c ki approval na ho to
Hi, I received a 147 Notice for July-September 2023, I’m a salaried person and have some properties on which I’m getting rental income, rental income itself is more than 1 million/year that’s why I received a notice to submit advance tax.
The issue is that the amount they mentioned in 147 notice contains the calculation of whole income(Salary+Rent), Tax is already deducting from my Salary each month so I’m not eligible for Salary part but for the rental income, the yearly tax is hardly 3 lacs which I can pay at the end of the year… how can I reply to this notice as I received to pay around 3 lacs just for first quarter of 2023 which will make 12 lacs at the end of year but technically I just have to pay 3 lacs in total for rental income, please send me a draft for this notice. Thanks
147 not applicable on salary and rental income, just reply that
@@faheempracticallearning But as you mentioned in other videos that if Data tab contain values then it’s eligible to pay, my notice contain values in Data tab…
Also, I pay the tax of rental income at the end of year, my tenants doesn’t pay during the year…
@@waqasshahid9151 now rules changes
@@faheempracticallearning Thanks. One last question, I only have to reply on that notice, is there any other step I need to do?
@@faheempracticallearning make a draft for rental person what we will type. Please make these lines it will help people and your students
Sir mujhe 147 ka notice aya hai hard copy mein aur us mein tax liability calculate Ki Hui hai only tax paid in advance ka column blank tu puri calculation aap ke lecture ke according Karon ya only tax paid in advance show jo meri company ne pay KIA hau
Make your calculations as per rules, and then just reply ignore the auto calculations. Already have lecture on this topic pls check channel
kya bat hai sir
Jazak Allah
Very nice 👍
Jazak Allah
Thanks,
Sir i got above notice but i am a freelancer and all my income is under IT business. How to handle that ?
I am also IT export UT got same message. Have you got any answer?
check latest lecture, uploaded yesterday
@@faheempracticallearning thank you for reply. I have seen that video but our issue is that we are transferring our money through payoneer and bank is unable to deduct 1% or .25% because there is some temporary channel between them like jazz microfinance etc. So what to do in that case
Love you r content
Jazak Allah
Sir,
you said we can adjust the previou year's refund (if any), but please guide us can we adjust the previous quarter's refund too....?
Yes, purpose is our 90% of our actual liability must he paid before last QTR
How to file extension for advance income tax.
Sir agr hum advance income tax pay nhi krty or rply da dety hn srif. Or hum tax return ky sth submit krwa dy tw kia thk ha asy?
As per rules, we need to pay, but if business volume is less, thn you can deposit with annual return
کلائنٹ جو کہ آئس فیکٹری چلاتا ہے اس کو 147 کا نوٹس ملنے پر کیا کریں جبکہ اسکے ماہانہ بجلی کے بل میں بڑا امائونٹ ودہءلڈ ہو چکا ہوتا ہے۔؟؟
sir pls guide me i want your classes. i want to learn more
sir agr chat na fill kry bs wesy hi rply da dyn tw clear ho jaye ga notice?
yes also ok, but better to fill
Excellent
Jazak Allah
Sir plz confirm, jis ko ye notice recieved ho agar woh sales tax main register hi na ho yo bhi person ya company eligible hai 147 ke liye.
I always file annual return for AOP, and never received any notice. But now i have received notice to file advance tax return for Q1 2021...... In last year (2020) return, total tax paid was 4000, but in tax notice of Q1 2021, they have estimated tax of just 1 quarter PKR 20000, please guide
Faheem bhai please guide in case of individual commercial importer if he pays advance tax as per working in quarters and at the year end if tax amount is paid more can he show that anount is refund or not? Wheter it will shown in refund amount or it will considered part of minimum tax?
No.
It will considered as minimum tax?
Yes
It means in the next year excess paid advance tax is no more available because it has become the min tax
Sir g kindly explain whether Late filer of ITR-2020 will be added in up coming ATL.
in coming days i will upload one lecture on this topic
@@faheempracticallearning that was a fast reply sir g, l am honoured.
Sir kindly tell individual s are also applicable to pay advance Tax
not applicable on salary individuals
236H aur 236G Adjust ho jye ga is me ???147 k Notice k reply main
Yes
I am a salaried person. Why I got advance tax notice 147?
@@nadirmunir6372 ignore this
Sir, In 2023 my profit on debt ( bank saving account and NSC certificates) was more than 5 million so I paid under normal tax. Now I have received advance tax notice 147. Do I have to pay advance tax?
did you file income tax? is there amount of refundable income tax?
A construction contractor doing small renovation construction jobs got advance tax notice. Is he required to pay advance tax or minimum tax ?
Sir, please advise if a pensioner gets a notice to pay advance tax under 147 despite he/she has only source of income is NSC along with pension. Thanks
No exempt from tax
Sir what could be the reason for that notice when advance tax is exempt for NSC and pension income. Do we have to reply by giving relevant reference or just ignore. Please advise
Already explained in last lecture. That was auto notice shared to every tax payer.
Thanks again for your help and support
@@faheempracticallearning IF NSC exceeds 1 million pensioner is still exempted from advance tax?
In case, quarterly advance tax is paid, how to attach CPR in reply as there is no tab of payment in notice?
Attached in document tab
How to reply notice if business has done no transaction for the quarter?
Just reply no business, so no advacne tax payable
Thanks!But how to correct auto generated assesed income and tax sent by fbr through this notice?
@@Asp1287 just make reply, that this was bot accurate assessment
@@faheempracticallearning thanks
Legend
Jazak Allah
Sir! I received a notice for submission of advance tax under section 147 and I have submitted a reply to this notice after depositing of advance tax. But the answer to the notice is still shown in the outbox. Now the amount paid is nowhere to be seen in the 2021 return. Please guide how the advance tax amount will be adjusted.
same here its still in the outbox did you find the solution ??
please sir share this reply in word formate
Sir remove confusion about difference between Advance Tax and With holding adjustable tax . 2nd question : under section 236K purchase of property which tax is require Advance or WHT adjustable?
One lecture available on my channel
Pls check
Sir, If a commercial importer received a notice U/S 147 . He already paid the Minimum Tax at the time of import which is already greater than the normal tax liability. He didn't purchase anything domestically. Do he need to pay this advance tax ?
No
@@faheempracticallearning Thanks
For small companies, normal tax rate 23% will be used?
Yes. Used according to tax years
Do you offer class room training in Lahore?
03007574731 for further details
Tax guru
Jazak Allah
U/S 147 ka Notice kis Amount / Income py aa jata ha
10 lakh ya us se ziada profit declare kernay par
Sir please send 147 reply draf
Tnx
Jazak Allah
Sub se pehla tou aapne ghabrana naahi ha :')
yes :)