Income Tax Studio
Income Tax Studio
  • Видео 86
  • Просмотров 45 126
Section 73. Certain transactions not admissible
www.incometaxstudio.com
incometaxstudio.com/sales-tax-module-1/
In this video, we will learn Section 73 of the Sales Tax Act, 1990, covering essential points. Here's what you need to know:
Invoice Payments: If a single invoice exceeds Rs. 50,000, payments must be made through the buyer's declared business bank account using a banking channel.
Adjustments Between Registered Businesses: Registered businesses can adjust amounts payable and receivable with the same party if both have charged and paid sales tax, and prior approval from the Commissioner has been obtained.
Input Tax Credit: Buyers cannot claim input tax credit, adjustments, or refunds if payments are not made from business bank accou...
Просмотров: 258

Видео

Sales Tax Registration Criteria in Pakistan: Who Needs to Register?
Просмотров 326Месяц назад
In this session, we will explore who qualifies as a "registered person" and who is liable to register for sales tax with the Federal Board of Revenue (FBR). We will discuss the three essential conditions that determine the requirement for sales tax registration: 1- The individual or entity must be engaged in making taxable supplies. 2- The person must be conducting a business. 3- The individual...
Foreign Remittance encashed from Open Market
Просмотров 673Месяц назад
Summary of Case Law Regarding Foreign Remittance Background 1. Muhammad Salman Farooq, deriving income from business and salary, was audited, revealing an unexplained wealth increase of Rs. 141.4 million. 2. The DCIR assessed his income based on this increase, which was partially upheld by CIR(A) at Rs. 105.9 million, rejecting the taxpayer's explanation regarding foreign remittances. 3. The ta...
Module 3 Practical guidance on managing FBR notices - Class 01
Просмотров 407Месяц назад
In this video, we'll explore the critical aspects of filing and non-filing income tax returns under the Income Tax Ordinance. We'll break down: Filing of Return of Income: - Voluntarily filing of return of income (Section 114(1)). - Issuance of a deemed assessment order (Section 120(1)). - Revision of return of income (Section 114(6)). - Issuance of deemed amended assessment order (Section 122(...
Handling FBR Notices - Module 3
Просмотров 2582 месяца назад
Gain practical guidance on handling FBR notices, drafting effective replies, and confidently attending tax proceedings. incometaxstudio.com/module-3/ for enrollments 0345 8547682
Understand the Definition of Relative with ChatGPT
Просмотров 1572 месяца назад
Welcome to Income Tax Studio! In this video, we explore the definition of a 'relative' in the context of tax regulations and legal frameworks. Using the capabilities of ChatGPT, we provide a comprehensive explanation to help you understand the nuances and implications of this term. Whether you are a tax professional, a legal expert, or someone looking to broaden your knowledge, this video will ...
Understanding Section 4AB with ChatGPT
Просмотров 1912 месяца назад
Welcome to Income Tax Studio! In this video, we delve into the details of the new Section 4AB. Using insights and information from ChatGPT, I will walk you through the key aspects and implications of this new section. Whether you are an accounting professional, a tax consultant, or simply interested in staying updated with tax regulations, this video will provide you with the necessary understa...
Drafting Replies to FBR Notices Using ChatGPT - 1st Session
Просмотров 6662 месяца назад
In this video, I will demonstrate how to efficiently draft a reply to a Federal Board of Revenue (FBR) notice using ChatGPT. By leveraging the right prompts, you can streamline the process of responding to tax notices, ensuring accuracy and compliance. Key Focus Areas: Clarity 📌: How to ensure your reply is clear and easily understood. Background 📝: How to provide relevant context and backgroun...
Mastering ChatGPT: for Accountants and Tax Professionals - Part I
Просмотров 5252 месяца назад
In this comprehensive lecture, we delve into the essentials of effectively using ChatGPT to enhance your interactions and achieve better results. Here's what you'll learn: 1. Why It Is Important That ChatGPT Knows You: Understand the significance of personalized interactions and how it can improve your experience. 2. How to Deal with Customized Instructions: Tips and strategies to tailor ChatGP...
Section 181E Record of Beneficial Owners
Просмотров 2813 месяца назад
Every company and Association of Persons must electronically submit details of their beneficial owners in the prescribed form and manner. According to Section 182, Serial 30, any company or Association of Persons that violates Section 181E will be subject to a penalty of Rs. 1,000,000 for each default.
Section 22 - Depreciation - Part - 4
Просмотров 794 месяца назад
www.incometaxstudio.com Complete Income Tax Training Program 0345 8547682 In this last part of the Depreciation series, we will conclude section 22.
Section 22 - Depreciation - Part - III
Просмотров 774 месяца назад
www.incometaxstudio.com Complete Income Tax Training Program 0345 8547682 In this third part of the Depreciation series, we will learn how to work out tax gain and loss on the disposal of depreciable asset.
Section 22 - Depreciation - Part - II
Просмотров 564 месяца назад
www.incometaxstudio.com Complete Income Tax Training Program 0345 8547682 In this second part of the Depreciation series, we will mainly learn how to prepare a tax depreciation schedule using a spreadsheet.
Section 22 - Depreciation - Part - I
Просмотров 1234 месяца назад
www.incometaxstudio.com Complete Income Tax Training Program 0345 8547682 In this first part of the Depreciation series, we will learn the basics of depreciation claims and how to calculate using a spreadsheet.
Section 21 Deductions not allowed Part - II
Просмотров 1675 месяцев назад
www.incometaxstudio.com Complete Income Tax Training Program In this session we will learn Clase (l) to Clause (j) of Section 21 of the Income Tax Ordinance, 2001
Revenue Receipts Vs Capital Receipts - Part II
Просмотров 1385 месяцев назад
Revenue Receipts Vs Capital Receipts - Part II
Introduction to Income Tax Law - Part II
Просмотров 2095 месяцев назад
Introduction to Income Tax Law - Part II
Revenue Receipts Vs Capital Receipts - Part I
Просмотров 2225 месяцев назад
Revenue Receipts Vs Capital Receipts - Part I
Section 21 Deductions not allowed Part - I
Просмотров 1865 месяцев назад
Section 21 Deductions not allowed Part - I
Introduction to Income Tax Law - Part I
Просмотров 3645 месяцев назад
Introduction to Income Tax Law - Part I
Section 61 Tax Credit on Charitable Donations
Просмотров 4336 месяцев назад
Section 61 Tax Credit on Charitable Donations
Accounting & QuickBooks - Class 7
Просмотров 2276 месяцев назад
Accounting & QuickBooks - Class 7
Section 39 Income from Other Sources Part - I
Просмотров 3606 месяцев назад
Section 39 Income from Other Sources Part - I
Section 68. Fair market value - FBR Values for Immovable Properties
Просмотров 5776 месяцев назад
Section 68. Fair market value - FBR Values for Immovable Properties
Salary Income - Employee Tax Computation
Просмотров 3087 месяцев назад
Salary Income - Employee Tax Computation
Accounting & QuickBooks - Class 6
Просмотров 1157 месяцев назад
Accounting & QuickBooks - Class 6
Business Structures - Registration and Taxation
Просмотров 5037 месяцев назад
Business Structures - Registration and Taxation
Sec 9 . Taxable income & Sec 10 . Total income
Просмотров 1977 месяцев назад
Sec 9 . Taxable income & Sec 10 . Total income
Section 221. Rectification of mistakes
Просмотров 2527 месяцев назад
Section 221. Rectification of mistakes
Section 12 . Salary ( Income from Salary )
Просмотров 3147 месяцев назад
Section 12 . Salary ( Income from Salary )

Комментарии

  • @Noorulain-v2r
    @Noorulain-v2r 2 дня назад

    best lecture on income tax .....loved it

  • @sohailahmad5715
    @sohailahmad5715 3 дня назад

    السلام وعلیکم Sir, your channel provides enough information to learn tax complications, I have a very important question regarding the annual income tax return. If the company deduct salary tax but doesn't deposit it and the company banned in this situation, the employee whose tax deducted who he can return file do he has to submit application befor the FBR authority or Commissioner about this situation or this is not required by law.

    • @incometaxstudio
      @incometaxstudio 2 дня назад

      Employee can file return and claim tax which was deducted by the employer. But sec 61 or 62 provide power to fbr that the tax can be recovered from withholding agent and withholding both. So in whose situation Employee will be required to pay. But the chances are very least as in salaried cases fbr don't conduct audit and inquiries .

    • @sohailahmad5715
      @sohailahmad5715 2 дня назад

      Thanks a lot sir for complete and detailed answers.

  • @HMalikTaxPractitionerFBR
    @HMalikTaxPractitionerFBR 7 дней назад

    Zabardast Junaid sb

  • @HMalikTaxPractitionerFBR
    @HMalikTaxPractitionerFBR 7 дней назад

    Junaid Bhai great 👍

  • @TheUmaiz
    @TheUmaiz 13 дней назад

    Agar Donation ki payment Cross Cheque k bajae Online Transfer (Bank to Bank ha) or Registraed idarae ko ha, to b Section 61 ka credit milae ga? Or is ko FBR k Portal m ks code pr report kahan kren gae?

  • @ziacompany8023
    @ziacompany8023 17 дней назад

    I have two questions 1. If for any reason bank don't deduct 1% tax then I can adjust any other tax like 236k during furnishing the tax return? 2. The person who sell the goods outside the country on amazon. Can he use section 154A to file tax return?

  • @muhammadsajid7070
    @muhammadsajid7070 18 дней назад

    Is it applicable to SMC?

  • @Artandcrafttheartist
    @Artandcrafttheartist 19 дней назад

    سلام Sir I am filer I received Rs. 3 lac through cross check from my non filer sister.Is it taxable? though it is less than 6 lac.Remember I have no other income source except bank profit. If I give gift of 3 lac to non filer sister then what will be the result and treatment.

  • @shahzadqurashi3942
    @shahzadqurashi3942 19 дней назад

    سلام میری نان فائلر بہن نے مجھے 3لاکھ روپے چیک کے زریعہ گفٹ کئے میں فائلر ہوں میری آمدن بینک انوسٹمنٹ کا پرافٹ ہے اور کوئ زریعہ آمدن نہیں کیا اس 3 لاکھ پر ٹیکس کٹے گا؟ اگر میں بہن کو 3لاکھ دوں تو اس کا کیا ہوگا؟ میں فائلر بہن نان فائلر.

  • @naumanayub1348
    @naumanayub1348 21 день назад

    In case you are 1st allottee of a house from Dha, then do you have to pay 236 c or 236 k. Kindly reply.

  • @Adnanbhatti788
    @Adnanbhatti788 22 дня назад

    junaid bhai thanks a lot kya app koi online course krwate hain

    • @incometaxstudio
      @incometaxstudio 22 дня назад

      @@Adnanbhatti788 yes. Please visit www.incometaxstudio.com

  • @syedwaqarshah2983
    @syedwaqarshah2983 24 дня назад

    Best interpretation

  • @QamarMickle
    @QamarMickle 25 дней назад

    Current ststus ???

  • @fragileheart9640
    @fragileheart9640 27 дней назад

    Under which section in IRIS, PF has to be declared?

  • @soazkhwani
    @soazkhwani 27 дней назад

    Thank you so much for the clarification and explanation.

  • @asadmustafa1178
    @asadmustafa1178 28 дней назад

    Nice Topic: Sir, you have mentioned that we have to show the employee portion in our annual wealth statement, and what about the employer portion and dividend in case it is invested let's say in the Meezan Mutual fund ??? Still, do we only have to mention the employee portion and not worry about the employer portion and the dividend ???? I would greatly appreciate your response.

  • @Asgharkhan-of6bc
    @Asgharkhan-of6bc 29 дней назад

    Sir one question, Employer leased car for me from bank on his name after payment of all lease instalment he transfer the ownership of car to me ,Now how i will declare this car in my Tax return please guide me

  • @saleemjaved6607
    @saleemjaved6607 Месяц назад

    kamal ha sir , you have a deep teaching and communication skills with a powerful grip on your topics..

  • @groomingprofessionalsaccou4186
    @groomingprofessionalsaccou4186 Месяц назад

    AOA sir I have two questions. Q1. If any person submit cash in my register bank Account with out issuing any invoice to him what will be do, Q2. Will be create sales tax invoice against cash deposit in regester bank account if he does not provide any CNIC no.

  • @fatimasheikh574
    @fatimasheikh574 Месяц назад

    sir Part 2 kahan se milyga?

  • @muhammadsalim6008
    @muhammadsalim6008 Месяц назад

    is gold received in dowry a Gift? What conditions must be fulfilled to make it tax free?

  • @qaziqaisir2344
    @qaziqaisir2344 Месяц назад

    Bro Rental Income Inflow main nahi lee

  • @khalidramzan1650
    @khalidramzan1650 Месяц назад

    Sir. I received 2 million as inheritance money after 3 years of death of my father. We sold some property which was not registered on my father name and he also had some investments with his friends. Now i have received that money as inheritance but don't have and documentary proof. How to treat that in tax return

  • @shahzadqurashi3942
    @shahzadqurashi3942 Месяц назад

    جناب آپ ڈائرکٹ قیمت نکال رہے ہیں پورے پلاٹ کی جبکہ fmv کے لئے پر اسکائر یارڈ ویلیو کو کورڈ ایریا سے ضرب دینا ہوتا ہے. ہر اضافی منزل کی قیمت گراؤنڈ کا %25 ہے اور اگر بلٹ اپ پراپرٹی 20 سال سے زیادہ پرانی ہے تو fmv اوپن پلٹ کے برابر ہوگی.

  • @muhammadazam9650
    @muhammadazam9650 Месяц назад

    Best explanation ❤🎉

  • @shahzadqurashi3942
    @shahzadqurashi3942 Месяц назад

    سلام جناب کراچی کے لئے جب ہم رہائشی مکان کی ویلیو نکالتے ہیں تو اس میں گراؤنڈ کے کورڈ ایریا کو دی گئ fbr کی فی اسکوائر یارڈ ویلیو سے ضرب دیتے ہیں.اور ہر اضافی منزل کے لئے گراؤنڈ ویلیو کا %25 اضافہ کرتے ہیں.آپ نے یہ بات نہیں بتائ دوسرے یہ کہ اگر. مکان بے ہوئے 20 سال سے شیادہ ہوگئے ہیں تو SRO کے ٹیبل میں لکھا ہے کہ fmv. اوپن پلاٹ کی قیمت کے برابر ہو گی تو کیا اسطرح کریں کیونکہ میرا مکان 50 سال پرانا ہے.

  • @kmzi101
    @kmzi101 Месяц назад

    in clause 9A of part III of second schedule , sales of plot being a first allotte is exempt only for armed force this reduction is applicable on everyone. pls explain.

    • @incometaxstudio
      @incometaxstudio Месяц назад

      please post your question at incometaxstudio.com/community/

  • @theshamsi
    @theshamsi Месяц назад

    What about income tax deducted from Commercial importer at import stage as Minimum Tax?

    • @incometaxstudio
      @incometaxstudio Месяц назад

      @@theshamsi dis not get your question

    • @theshamsi
      @theshamsi Месяц назад

      @@incometaxstudio I mean that as a commercial importer we pay minimum tax at import. This tax is deducted as expenses or not?

    • @incometaxstudio
      @incometaxstudio Месяц назад

      @@theshamsi this is advance tax and adjust it with your final tax liability which is calculated in annual tax return. In books Tax chargeable Dr And advance tax Cr.

    • @theshamsi
      @theshamsi Месяц назад

      @@incometaxstudio We are commercial importer and on import stage we paid Rs.500,000 income tax while our taxable income is 1.2M still IRIS demand for more income tax payment. Due to Difference of minimum tax chargeable. How to handle it?

    • @incometaxstudio
      @incometaxstudio Месяц назад

      @@theshamsi pls contact 0345 8547682

  • @saleemshaukat1500
    @saleemshaukat1500 Месяц назад

    thank you for the explanation. aik individual ko b PRA me register honi zarorat ha? aur withholding file krni chahye wo nill ki file kre? ya indivbidual pr applicable ni ye condition? jab k wo PSEB se register ha.

    • @incometaxstudio
      @incometaxstudio Месяц назад

      please post your question at incometaxstudio.com/community/

  • @yahyahussaini
    @yahyahussaini Месяц назад

    I have given loan to a friends before june 2023 through banking channel.. he sent me back after july 2023 now how i will show this money or in what head? @income tax studio

    • @incometaxstudio
      @incometaxstudio Месяц назад

      @@yahyahussaini this is wealth statement item show on June 30, 2023 in other assets as loan receivable from friend paid through banking channel, And in next year delete this line item as your cash of bank will be increased as he has paid loan

  • @msraza9503
    @msraza9503 Месяц назад

    Assalam O Alaikum Sir can I add my PBA profit in Aunity Pension colum while filing my return

  • @AhmadKhayyam
    @AhmadKhayyam Месяц назад

    kitni pyari batain krty hain Junaid bhai ap.

    • @incometaxstudio
      @incometaxstudio Месяц назад

      @@AhmadKhayyam bus app doston ne acchi acchi batein sekha dein hein

  • @syedasiftanveer
    @syedasiftanveer Месяц назад

    For a contractor rendering IT services abroad from Pakistan, what is imputive tax and how does it apply for the contractor. Thanks in advance

    • @incometaxstudio
      @incometaxstudio Месяц назад

      @@syedasiftanveer visit my website www.incometaxstudio.com and post your question there will respond there.

  • @ShakeelAhmad-mq9do
    @ShakeelAhmad-mq9do Месяц назад

    Plz guide if inherited property sold in the same year of aquision than how subsection 3 of 79 apply

    • @PakPunjabi
      @PakPunjabi Месяц назад

      Looks like nobody knows about this. So far, I'm beating my head to find the answer to this question. If you know, please comment.

    • @incometaxstudio
      @incometaxstudio Месяц назад

      please post your question at incometaxstudio.com/community/

    • @incometaxstudio
      @incometaxstudio Месяц назад

      please post your question at incometaxstudio.com/community/

  • @EijazShah-f6o
    @EijazShah-f6o Месяц назад

    Sir ap quickbook training kerwaty hn???

    • @incometaxstudio
      @incometaxstudio Месяц назад

      @@EijazShah-f6o yes. For details contact 0345 8547682

  • @theshamsi
    @theshamsi Месяц назад

    When entering income tax value on IRIS on page "Final / Fixed / Minimum / Average / Relevant / Reduced Tax" we should enter assessed value + CD+ST+AST in the receipts / value column? if we not add the taxes the income tax deducted amount will not tally.

  • @TheTopperDoctor27
    @TheTopperDoctor27 Месяц назад

    Handmade reciept having institutions name is acceptable or not?

    • @incometaxstudio
      @incometaxstudio Месяц назад

      @@TheTopperDoctor27 acceptable

    • @TheTopperDoctor27
      @TheTopperDoctor27 Месяц назад

      @@incometaxstudioin video Ur saying k cross cheque is acceptable sirf?

    • @incometaxstudio
      @incometaxstudio Месяц назад

      @@TheTopperDoctor27 handmade means not printed what u understand from your text, donation must be paid through banking channel.

    • @incometaxstudio
      @incometaxstudio Месяц назад

      0345 8547682

  • @formanauto6034
    @formanauto6034 Месяц назад

    Aoa sir. Business taxable income one million means after deducting all direct and indirect expenses ? And difference on 1000000 - 6000000 in tax year 23 would be taxable. Please verify. Thanks and Regards Raja Aurangzeb from Lahore. Your WhatsApp number or email please if possible

  • @formanauto6034
    @formanauto6034 Месяц назад

    Aoa sir. Please explain section 147 ITO , 2001 in case of individual and Aop, company. Sir as individual taxable income limit is one million for paying advance tax u/s 147(4). Sir taxable income means. Total turnover minus cogs= GP Minus All indirect expenses. PBT or taxable income? Please verify above query? Thanks and Regards Raja Aurangzeb from Lahore. Your WhatsApp number or email please.

  • @asadullahpanhwar7447
    @asadullahpanhwar7447 Месяц назад

    sir income meine khud apne account mein dollar mein daali hai to hum kese enter karein phir return mein ? Kya dollar ko rupees mein convert karke likhein ?

    • @incometaxstudio
      @incometaxstudio Месяц назад

      @@asadullahpanhwar7447 asad can you pls send your question in audio to my WhatsApp 0345 8547682

    • @asadullahpanhwar7447
      @asadullahpanhwar7447 Месяц назад

      @@incometaxstudio done sir

    • @incometaxstudio
      @incometaxstudio Месяц назад

      @@asadullahpanhwar7447 let me check and revert

  • @UMAIRGULZARVOHRATAX
    @UMAIRGULZARVOHRATAX Месяц назад

    Very professional way of explaining thanks

  • @munakhan100
    @munakhan100 Месяц назад

    Very informative video.

  • @sohaibahsan5168
    @sohaibahsan5168 Месяц назад

    AOA Do you have WhatsApp? How I can contact you? Email or Mobile?

  • @524Mohsin
    @524Mohsin Месяц назад

    Thank you so much for the insightful content! You're a great mentor, and your guidance is truly appreciated.

  • @ahsanulhaqhashmi9408
    @ahsanulhaqhashmi9408 Месяц назад

    Sir tax return mein sholarship ki entry kahan hogi 50000 received from hamdarad foundation. For education

  • @sherkhan5148
    @sherkhan5148 2 месяца назад

    Sir, if minimum tax is applicable on me, can it be adjusted against with holded tax already deducted and deposited. Eg minimum tax is Rs 100 and withheld tax is Rs 200, should I still deposit Rs 100.

  • @ubaidullah3965
    @ubaidullah3965 2 месяца назад

    Great

  • @ghulammurtaza-zr8gj
    @ghulammurtaza-zr8gj 2 месяца назад

    excellent explanation, first time aisa hua ha k koi video dekhny k baad mere pass koi sawal ni ha sirf salute ha

  • @NoorulHassan-n1r
    @NoorulHassan-n1r 2 месяца назад

    Very much useful information

  • @shafeeqahmadchaduhary2946
    @shafeeqahmadchaduhary2946 2 месяца назад

    Thankyou for helpful information. please let me know where to enter extra income earned by part time job other than salary.