Property Income Tax Latest updates | 7E new Rules and SOP | 236C | 1% Income Tax Payment |
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- เผยแพร่เมื่อ 7 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/92300757...
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
بہترین اور آسان الفاظ میں وضاحت 🎉
👍
(FOR OFFICIAL USE OF COMMISSIONER INLAND REVENUE) It is certified that the taxpayer has duly complied with the provisions u/s 7E as applicable to the taxpayer for TY 2022 in respect of aboye mentioned immovable property or the taxpayer is not required to pay tax u/s 7E due to exemption in law or stay order of the Competent Authority/Court of Law. or stay order of the Competent Authority/Court of Law.
Excellent way of delivery 👍🏻
👍
Very Nice and comprehensive VDO
Well explained...👍
Recommended for Comprehensive understanding of the concept...👍
سر فرعون بھی ٹیکس لینے والی قابلیت کی وجہ سے فرعون بنا تھا، ہمارے پاس پہلے ہی کافی ورائٹی ہے فرعونوں کی
😄
Very very well explained
Love u bro great explanation. JazakAllah
propty ab tabha ho gye h ab buy ho ga doller doller jaye ga uper hi upr aur pakistan ka bera gark hona me dair nhi
Yes agreed
Informative
Sir please make a lecture on the calculation for fair market value of the property for section 7E. And also share the rates for the calculation of fair market value
Gud sir jee.form kpk kohat.
Well explain sir
Very informative lecture
nam to is ka ishaq hey per log isy saaqa kenjr k nam sy janty hey
😄, Finance minister
Exactly bilkul such,Dalla
Thanks.
Sir plz muje ye btay mera plot js ki dc value 515,000 ha or plot marla ka ha. Meiny isko bech dia ha muje ye btay kya muje b 7E wala form lena hoga? Plot ki market value 30 lac ha
Same question
Well explained, thanks
Sir please make a new video about 7E as per updated policy and procedures. Now i hope by the time things have been cleared.
Case still pending from court side
Noted.
بھائ آسان لفظوں میں رشوت کا ریٹ بڑھ گیا ہے زلت اور بڑھ گئ ہے
😄
As per my understanding, purpose of the certificate from commissioner is that registry office cant determine exemptions...
Yes this method is abit ajeeb e ghareeb... hopefully by the time changes will be brought.
😄
Ioog zaleel hngy filer ban ky.isk bajaye ab non filer rho extra paisy do mazy kro
😄
Sir thanks for updating this information.
I purchased a residential plot in December 2015 and sold in January 2023. Should I have to Tax U/S 7-E? Kindly clear. I hv declared this plot in all my Returns since 2015. At the time of sale I paid 236C Tax being a Filer. I didn't mentioned in 7E in Tax Year 2022. What should I do?
Same Question....
7E kitni value wali property ki sale pr dena hoga 2 caror say ziyada pr
25 Million
Sir as per my understanding, Lahore High Court already struck down 7E. What would be the implication of that Order?
Supreme Court decision prevailed, as superior court
Very informative vlog. Is 236c tax adjustable tax in tax year 2024. What about the tax on holding period in 2024 tax year. I mean capital gain tax on immovable properties in tax year 2024. Fbr withdraw the holding period in 2024 tax year????
Other all adjustable, same treatment,
Excellent ❤❤❤❤
👌
Thankyou for the latest informative video on current issue.
What about if we already filed tax return of 2022 and did not fill form 7E in it, should we revise our return and then apply to get the 7E form?
Fill annex A and file application to FBR office manually
How to calculate the fair market value of the property, for section 7E?please guide.
FBR valuation rates,
@@faheempracticallearning ok, can you share video lecture on it.
@@faheempracticallearninghow to calculate the value in case of residential, commercial property and also share the relevant SRO and rates for calculation purpose
Sir hum return ma kosi value report krengey cost ya fbr. Ek proprty purchase ki ha 7000000 ki aur 236k 20000dia ha
It's against the personal human rights
😂 😂
Sir kitni Markit value per 7 E tax lagta ha . Aghar 25 m sa Kam value ho gi to 7e tax Nahi Dana ho gha.
Check previous, lecture of 7e
Well explained all the points.
Can you also explain what is the Town tax? and where it is implemented? I recently encounter an estate agent and he told me that the Town tax will be paid by the seller. Can you please confirm whose is liable to Pay the town Tax?
Sir agar property 40 lack me sale karte he tu kya us k lea bhi section 7E certificate Dena ho ga ya 25 million property value per Lago he, kindly reply
Whats about Inherit property?
Aik se ziadata properties ki market value aggregate karni ha ya just jo property sale karni ha us ki market fair price workout karni ha.
Yes accumulated
Thank you for this useful information and guidance. Question: is this applicable on CDA and Federal government employees housing AUTHORITY (FGEHA) sectors in Islamabad as in this case CDA and FGEHA transfer the title and registrar is not involved. Please help. Thanks
Aoa sir kia agr hum apne plot ki construction krte ha to us ki amount hum property me add krte jae ge ya aik invest wale colom me super construction as le kr chale ge? ya jaha plot ki value thi usi me add krte jae hum?
Does this apply if a property is being transferred from a deceased person to his children and wife, after that all the siblings and mothers are transferring it to one brother/son .. kindly help
Yes
@@faheempracticallearning but what if it's transfered as gift it's not a financial transaction and it's value is under 25 million
@@ahm3r180 when transferred from Property office, original ownership changed, thn need to pay
Can you pls advise as my property in Karachi and I live in Islamabad, do I have to go there or the Land commissioner in Islamabad can do this?
Where your are registered in FBR?
کمشنر آفس میں کون یہ چاہے گا کہ اسکی فائل کمشنر کی ٹیبل پر آئے ، پھر تو 1 پرسنٹ سے کہانی کہیں اور ہی جائیگی
😄
Inherited gifted property lands in the name of non filer rules 7e applicable & tax measures explain please 🙏
What about society transfers??
For file transfer, still no clear rules.
TeX will be calculate at fair market value or FBR value
Fbr value
1percent on property value which is being sold?? Or 1percent 7E wala??
1% 7E tax
Jin ke plot 2018 may buy ki aye un per b implementation ho ge ?
Yes
@@faheempracticallearning 1 plot per b ho ga ya us per tax exempt ho gà !
Check previous, lecture of 7E
ایک پراپرٹی جولائی 2022 میں سیل کی ہو اور سیلر نان فائلر ہو ۔اگست 2022 میں فائلر ہو گیا اس نے جو گین ٹیکس ادا کیا ہو 4%کےحساب سے اسے 2023کی ریٹرن میں کیسے فائل کرے گا اور کیا یہ ٹیکس ریفنڈ ایبل ہے
Sir if anyone have more than one property and both of them are declared in the return but one of them is declared in the tab of "others name". In that case, shall we consider both properties for calculation of tax liability under section 7E?
at the time of sale need to get certificate, commissioner will verify.
I have not purcased or sell any property since last 5 years. I have only one house on my namme presently on Rent. Also I am paying Installments of 3 plots and may installments are remaining. Will I have to pay Tax even now as per new rules F 7E??
jab ma overses ma tha hamaray abai ghr ko bogus documents jo fransic report se b proove ho geya do party ko sell kr dea geya. Mamla court ma ha ab aik party kuch compansation krnay ko ready ha. Amount kuch zeyada to ni kia muje b is koi tax dena hoga as seller. Thank you.
Are non resident exempted if she sell bahria property
No
Sir, is this certificate from FBR under section 7E is required for transmission of inherited properties to legal heirs of
deceased?? Is section 7E applicable on properties of deceased person if the properties of deceased are under sussession and have aggregate value of more than PKR 25 Million?? Sir for your
information deceased is still a income tax return filer and on active tax payer list. Details and values of properties of deceased were mentioned in section 7E section of income tax return and wealth statement of tax year 2022. Properties are still in the name of deceased.
For any transection or movement, we need this certificate
@@faheempracticallearningany property? Even if it is 30 lac or less?
سوال ۔1 - سر کیا 25 میلین سے اوپر کے رقم پے 1 فیصد ہے یا کہ مجموعہ رقم پر ٹیکس ہے۔
سوال 2 - اگر کوئی پراپرٹی 25 میلین سے کم ہے اس پر بھی یہی رولز ہونگے؟
شکریا
Pls check 7E 1st lecture, already explained these
اورسیز پاکستانی زیادہ تر ملک میں پراپرٹی میں انویسٹ کرتے ہیں اگر اسی طرح انہیں ٹیکسوں کے چکر میں حکومت لوٹنےکابندوبست کرتی ہےتو کون اپنا سرمایہ پاکستان بھیجےگا
Agar Fair market value 25 million se kum hai tu b 1% tax barhna hai?
No
Very difficult to understand this puzzle.there should be a simple rule.
Yes, law is always like this,
Simply yoy have to pay it rehardless of everything..
Agreed
Pakistan Real Estate Market has Crashed. PAKISTAN's REAL ESTATE INDUSTRY HAS COLLAPSED IN 2023.Truely Speaking, Pakistan After 2017 Joker MUFTAH's FINANCE Minister Influenced Bad Decisions Causing A LITTLE BIT SLOW DECLINE. BUT ESPECIALLY AFTER 2023, A VERY MASSIVE, Real State INDUSTRY CRASH Has HAPPENED for At least 10 Years. GOD SAVE REAL ESTATE IN PAKISTAN
Yes
Salam sir if you have only one inherited property you need is there any tax
At the time of sales or transfer, need to get certificate or need to pay tax
mera plot aik hey me wo sale krna chahta hu. approx 70 lac me sale ho ga. 6 saal sy ziada ho gya khredy vy. kia bta skty k mjy in hramio ko kia kia dena pry ga. phl to suna tha k 6 sal sy oper gain tax maf ho jata hey
Ab khtm Hai g 70 lac py 7% tax
Agr ap ke pas srf aik ye hi property ha to srf fbr value pr 3% tax dena ha for filer. Agr ap ki original value 70 lac ha to fbr value almost 50 percent less ho gi
ni mery pas aik r plot b hey dono ko sale kr k aik gher lena chahta hu mera gher koi ni. gher km sy km b cror tk ilta aam sa b@@ahmadafzal5109
Sir ya film mery sar k opar sy ja rahi hy
Yes very deep concept pls check previous lectures
If property valuation is below 25mil then will this 7E apply on this?
Same question ❓
No, but still we need to get certificate at the time of sale
@@faheempracticallearning what about portion sale on builder file?
Same rule
@@faheempracticallearning
Thanks for information.
Sir mere mama k naam pe plot hai 32 saal pehle liya tha. Ab main bechna chahta hon to mujhe tax dena parega plz reply me.
Yes
Your mother filer?
@@faheempracticallearning nahi
File return to save 3%,
For service whatsapp or call at 0300-7574731
@@faheempracticallearning
Jis walida ka inteqaal ho chuka usko Filer kesay bana saktay hein....?
Succession Certificate mil gaya to phir to beta beti waaris bun gaeye...
Ab marhooma walida ko bhee Filer banana ho ga kya????
کچھ بھی ۔۔۔۔ رشوت کا ریٹ بڑھ گیا ۔۔۔۔
😂
Laanat ho FBR per
😄
Sir plez reply whether 7E in case of sale of Agriculture land is applicable on Non Filers or not.
Yes applicable
AOA. I am a tax filer and my name is in ATL. I sold a property in Aug 2022 and paid 1%. Am I required to do anything like paying extra tax or how to handle it in my tax return 2023.
Well explained...👍
Recommended for Comprehensive understanding of the concept...👍
What about for sale of warasti property, inherited from parents side
Same