Tax Return & Benefits for Non-Residents | Overseas Pakistani | Why required to file Return | Top 5 |
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- เผยแพร่เมื่อ 20 ก.ย. 2024
- Anyone interested to learn Pakistan taxation including E-Filing of both sale tax and income tax please WhatsApp or call at 03007574731.
Click on below WhatsApp link for further details of Practical Taxation Course
wa.me/message/...
Income tax Includes
1. Section-149 Income from Salary
2. Section-155 Income from Property
3. Section-153 Payment of goods, service and contract
4. Section-147 Advance income tax
5. Section-148 Import
6. Section-231AA and 236P Advance tax on certain banking transection
7. Section-231B Advance tax at the time of registration of private motor vehicle
8. Section-235A Tax collection from domestic electric bills
9. Section-236 Tax collection from telephone users
10. Section-236B Advance tax on purchase of domestic air ticket
11. Section-236F Advance tax on cable operator and other electronic media
12. Section-236G Advance tax on sale to distributor, dealer and wholesalers
13. Section-236H Advance tax on sale to retailers
14. Section-236I Advance tax by educational institutions
15. Section-236U Advance tax on insurance premium
16. Section-236X Advance tax on Tobacco
17. Section-236Y Advance tax on remittance abroad through credit, debit or prepaid cards
18. Fine and penalties
19. Section-177 Audit
20. Treatment of provision for bad and doubtful debts
Sale Tax Includes
1. What is sale tax or indirect tax and concept of VAT
2. Difference between Input and Output tax
3. Further tax and extra tax
4. Calculation of Sale tax
5. Advance sale tax
6. Withholding Sale tax
7. Debit and credit notes
8. Admissible credit
9. Annexure A, B, C, F,H, J and I with practical example
10. Supply and purchase register
11. Stock or consumption sheet
12. Concept of Punjab Revenue Authority (PRA) and Sindh Revenue Authority (SRB)
E-Filing
1. Monthly sale tax return
2. Withholding Statement
3. Reconciliation of sale tax return
4. Reconciliation of wealth
5. Annual income tax return of Salary Individual
6. Annual income tax return of Company
7. Annual income tax return of Business Individual / Retailer or Trader
8. Annual income tax return of AOP
All above section will be cover with practical example and online filing.
Regards,
Faheem Mehboob
ACCA Member
03007574731
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Sir being Student of Taxation, I really appreciate your comprehensive explanation for understanding to all.
@@rifaqatbhatti 👍
Zabardast MashaAllah Good learning lessons
👍
Very Nice.
One question, I think there has been some updates made in definition of non-resident person recently. could you please make a short video explaining it in simple Urdu terms that would be great. Also, if a person left Pakistan on 5 November 2023 on work visa will he be considered non resident in this year's ITR or not?
@@IamAwaisNaseer yes non resident
AoA,
Sir you are doing a great work MAshallah..It is heard that Punjab Govt is enforcing professional tax withholding on salaried class via employers. Please provide your valuable guidance on it..
w.salam Yes sure
Bhai non-resident rate for 236k and 236c is 3% according to finance bill 2024-2025. However these days system is having error. It will resolve soon. 7e is also exempt for overseas.
@@m.imranmusani4758 yes as per laws all things available, but in practical no one accept, did you check the practical market?
@@m.imranmusani4758 to claim the exemption we need to follow certain, rules
@@faheempracticallearning yes, i am practicing lawyer at karachi. Doing registration work. Just need to show concerned registrar nicop card or need to proof 183 days outside pakistan.
Before portal was calculating 236c and 236k at 3% for non-residents automatically, but due to mis-use of it system is considering them as non-filers, however i have emailed fbr and they updating with nicop card holders list with nadra, and then it will automatically calculate same as filers rate.
@@m.imranmusani4758 yes, but now system changed.
Faheem Bhai. If he has no Income in pak then in Income tax return will nil?
Yes to report all assets if any, and also need to report foreign remittance, if any
Sir, please make a one video on workers' welfare fund
@@abdulwahabkhilji5987 yes sure
Informative video
@@munakhan100 👍
Salam Sir please make a video how to do audit in sales tax
@@AbdulHanan-f9u W.salam already on channel, you can check and search
Sir withholding certificates ki amount ko Jama Karen aur amount fbr ki site pur total withholding collected say ziyada nikley tou konsi amount withholding main show Karen humarey withholding certificates ki total Jo fbr account main show Kee Gai say ziyada hai ya fbr ka withholding Jo humari calculation by all certificates say kum hai thanks
Sir ye bata dain agar wealth statement me agar koi cheez add kese hogi??
2024 ki return file kurkay kia 2018 ka audit aa sukta hai sir ya vo 6 years old hai tou nahi thanks,.
Sir Good work.. i want to ask that previous year assets of the non resident person zero by system. even assets was reconciled but when submitted and selected non resident from attribute this problem occured.. what will be the solution.. Please .
please make a video on how to save our carried forward amount in sales tax return as you mentioned in your video that FBR can adjust that amount without intimating us.
@@Salmanfarhat-ub9yo yes sure
Is there any clause in law that non residents must have to declare their foreign assets also in IT Rturns?
@@mustansirujjain later I will upload one lecture on this topic
A person is non resident pakistan origin having no source of income in Pakistan and he select the required return/ statement but there is no treatment of capital gain on property in the said return/statement, so what should we do where the capital gain amount mention in the said return/statement or we select normal return and then treat capital gain. Plz also guide what rule in the Income Tax Ordinance/ Rule about non resident, he is bound to submit wealth statement or income statement and in wealth statement he has to mention about abroad assets he possess thanks
Great video, Bhai kya law ye nai kehta k non resident ke agar final taxation ke income ho to then oss ko wealth statement bhi file kerni pareyge? Like absolute exemption nai hai non residents ko k kuch bi ho WS skip ker saktey hain
@bumblebee9912 yes already same explained in lecture
Aoa. Sir meri june ki sales tax return ka Annex A & Annex C block hai. Ye kyse open ho gi? Plz help.
wrong you can file 7E without prejudice to the fact whether Wealth statement has been filed or not. Please correct me. For Capital gain filing WS is different subject but for 7E not necessary.
pls watch complete lecture, for complete understanding, 7E required at the time of sale of property, otherwise tax need to pay. Its saving for us/you
@@faheempracticallearning exactly but filing 7E is not mandatory or prerequisite for WS, technically
@@farhanulhaq3852 for non resident, not applicable, but we also need to plan for future tax, same explain in lecture
section 08 b is locked for distributors any news on this
Sir mera s status Active (late filer) araha he.. mera question ye he k me ne exam duty ke he.. ab ja mera cheque banega kia mujse filer wala tax deduct hoga or non filer ka . Thank you
@@IlyasKhan-qv2fk filer
Aoa sir
Mera filer status active(late) show ho raha hai, to abi return file kr don ya nahi ?
Please guide sir
@khawarabbas5966 W.salam which last return you have filed
@@faheempracticallearning 1-july-2022 to 30-june-2023
@@faheempracticallearning tax year 2023
Yes tax year 2023
@@khawarabbas5966 now it will be same, on 1st March 2025 your status will be update, if tax year 2024 return also filed within due date.
Its batter to leave from pakistan...
Why non residents purchase property in pakistan?
We nothing gain ...there r all of 100% loss to invest in pakistan