Profit pr to to bank already 15% tax deduct kr leta ha, to Kya salary par b deduct hoga ku k annual income total 13 lac ban gayi ya phr salary 6 lac se kam honay ki wajah se salary par koi b tax nai lgay ga?
Sir mera HBL men value savings account hy.... Dec 2023 tak Isky profit py 15%tax cut hota raha... Aur jan 2024 sy onwaed 30% deduct ho raha hy. Men non filer hon. Ab dec 2023 tak ky profit py 15% mazeed tax dena ho ga ya nahen? Tax on debt jo bank ki responsibility hy jo banta tha cut ho gya ya mazeed mujy khud sy b jama kerna ho ga? Kindly reply.
Pls clarify whether fee charged by the bank on preparation of pay order and fee charged by bank on transfer of Amount from one account to another account is included in tax or not, if yes where it is included
Hi Sir, Hope you are fine and thank for sharing this video. I have one question about, it would be my pleasure if you answer it. JazakAllah. If we would like to adjust "Carry forward business loss" against "Profit on debt income" then where we feed loss amount in IRIS?
Good information brother. I understand that, it is necessary to entered income from bank profits in which Tax has been already deducted in 1) Other sources > Other receipts (5028) 2) Income Attributable to Receipts, etc. Declared as per Return for the year subject to Final / Fixed Tax (7033)’’ in section ‘’Reconciliations of net assets’’ (Wealth statement). Its means other incomes in which tax has not deducted yet ( Profit from Behbood certificates and rental income) will treat as a normal income and need to enter in section ‘’ Income Declared as per Return for the year subject to Normal Tax (7032). Please advice. Thanks
wrong - jo tariqa bataya hai over 5 million ka wo ghalt bataya hai app nay . iski aik entry hogi under OTHER SOURCES main hi under 500312 (profit on debt if amount is exceeding 5 million under section 7b) jis say sahi tax nikal k ayey ga - app walay tariqay main tax zada deduct hoga .
Very well explained, I've a query, FBR Maloomat excell sheet shows Profit on Debt (Bank Savings Account) u/s 151(1)(b), then if it is good to show/enter it in Final Tax u/s 7B. Why we are not showing it in Adjustable Taxes....? Amount is less than 5 million...
tax deducted on salary (accordining to rule} 59000 (Tax Deducted) on investment @15 % 905000 now the question is that profit on investment increase more than 50 lac say 6035000 .than what is the position of tax payable plz calculate the tax payable and informed thanks
Thank you Nasrullah bhai for the guidance, Kindly make a video on "how to enter capital gain on immovable property?" and for stock exchange gain/loss related video. Regards
Nicely explained, I have one doubt, do all income Subjected to final tax will have to reflect in other receipts or only share income and profit on debit. Please explain.
Very nicely explained for RDA and 0% tax deducted profit... And same confusion i have ..other receipts me sab add kr k likhna parrega... Like naya pakistan certificate ka profit (10% tax deducted) aur RDA saving account ka profit (0% tax deducted) dono plis kr k other receipts me reflect karna parrega.. and whole amount will be in expemted section in other receitps?
What about deduction under section 28 of income tax ordinance.if no profit on Debt is received in cash but invested in business of National savings again.
I think IRIS is not calculating correct WHT for 'profit on debt'. I put 6,000,000 as profit on debt and the correct tax should be 1,095,000 but it shows something like 1,333,000
Brother how have you worked out 1095000 WHT on 6000000 profit? Please if you could explain how much percent tax is charged if profit is more than five million ?
Very nicely explained specially for RDA and 0% tax deducted profit, subscribed for that😊... And confusion i have ..other receipts me sab add kr k likhna parrega... Like naya pakistan certificate ka profit (10% tax deducted) aur RDA saving account ka profit (0% tax deducted) dono plis kr k other receipts me reflect karna parrega.. and whole amount will be in expemted section in other receitps? Reply if you know and understand my confuaion Thanks in advance
AoA Honorable sir meray pass cash in hand 1500000 hain iss main say kuch main nay saving account main rakhni hay to us ka leay ap ki koi video hay. Kindly guide me
Sir, i have bank profit of 6 million and national savings profit of 7 million. Where do I enter national savings profit? This profit was for DSC and special savings certificates. Thanks a lt
I have multiple accounts & received total profit above 5 millions but not from one account, still i have select profit above 5 millions and i have rda accounts too how about that profit, shall be included and select above 5 millions row, kindly update me about it. Thanks
Thx for explaining regarding prize bonds, can you pls explain in your next video how to add premium bonds profit and tax plus if we pay tax on mobile phone how to add that one too
AOA sir and sir Mai ntn holder ho 4 years se and koi return nai abi tak and koi property, asset nai and Maine suna Hai ke ager return file na karain toh wo khud se assessments ker ke lakho Mai tax dala dety Hain and sir Kiya aisa hota Hua and ap ke pas Kabi is tarah ke cases aye ho assessment ke and Meri income taxable nai kindly reply in detail
Salam As per FBR tax rate on profit above 5.0M mention as minimum tax What rate will charge upto profit 20M from bank for an individual FY-23-24 Kindly confirm
Kuch tax advisor prize bond prize ko other reciept me enter nai krty or us ko ghalt practice samajhty he ,,,wo just final account me enter kar k us k tax ko ecpense me taxes me enter karty he
Very good explanation brother
Stay blessed
You are a true gem
Profit pr to to bank already 15% tax deduct kr leta ha, to Kya salary par b deduct hoga ku k annual income total 13 lac ban gayi ya phr salary 6 lac se kam honay ki wajah se salary par koi b tax nai lgay ga?
Good informative video,also give information about capital gain/(loss)
Thank you for your time.
Sir mera HBL men value savings account hy.... Dec 2023 tak Isky profit py 15%tax cut hota raha... Aur jan 2024 sy onwaed 30% deduct ho raha hy. Men non filer hon. Ab dec 2023 tak ky profit py 15% mazeed tax dena ho ga ya nahen? Tax on debt jo bank ki responsibility hy jo banta tha cut ho gya ya mazeed mujy khud sy b jama kerna ho ga? Kindly reply.
VERY WELL EXPLAINED KEEP IT UP SIR LEARNED A LOT FROM YOU PLATFORM KEEP GROWING
So nice of you
Pls clarify whether fee charged by the bank on preparation of pay order and fee charged by bank on transfer of Amount from one account to another account is included in tax or not, if yes where it is included
Good video
Hi Sir, Hope you are fine and thank for sharing this video. I have one question about, it would be my pleasure if you answer it. JazakAllah.
If we would like to adjust "Carry forward business loss" against "Profit on debt income" then where we feed loss amount in IRIS?
Wrong question. Profit on debt pe loss nae hota
Good information brother. I understand that, it is necessary to entered income from bank profits in which Tax has been already deducted in
1) Other sources > Other receipts (5028)
2) Income Attributable to Receipts, etc. Declared as per Return for the year subject to Final / Fixed Tax (7033)’’ in section ‘’Reconciliations of net assets’’ (Wealth statement).
Its means other incomes in which tax has not deducted yet ( Profit from Behbood certificates and rental income) will treat as a normal income and need to enter in section ‘’ Income Declared as per Return for the year subject to Normal Tax (7032).
Please advice. Thanks
Yes
wrong - jo tariqa bataya hai over 5 million ka wo ghalt bataya hai app nay . iski aik entry hogi under OTHER SOURCES main hi under 500312 (profit on debt if amount is exceeding 5 million under section 7b) jis say sahi tax nikal k ayey ga - app walay tariqay main tax zada deduct hoga .
Ok brother noted with thanks
Informative vedio.
سر اگر ایک salary والا بندہ گھر کے لیے زمین خریدتا ہے۔ تو وہ اس کو کس طرح درج کریں گا۔ اس پر ایک ویڈیو بنا لو
Property may add KR Len brother
Appreciate your help ❤❤❤
Very well explained, I've a query, FBR Maloomat excell sheet shows Profit on Debt (Bank Savings Account) u/s 151(1)(b), then if it is good to show/enter it in Final Tax u/s 7B. Why we are not showing it in Adjustable Taxes....?
Amount is less than 5 million...
Sir as per my opinion jesy may ne ki he wesy better he . Baqi apki marzi
tax deducted on salary (accordining to rule} 59000
(Tax Deducted) on investment @15 % 905000
now the question is that profit on investment increase more than 50 lac say 6035000 .than what is the position of tax payable plz calculate the tax payable and informed thanks
Thank you Nasrullah bhai for the guidance,
Kindly make a video on "how to enter capital gain on immovable property?"
and for stock exchange gain/loss related video.
Regards
Sure I will insha'Allah
Sir kindly ye bata dey ke profit on debt tax deduction ke bad milta he tou kya yearly tax return me us profit pr again koi tax lage ga
No
We records income in FTR and not in other source. what will be the impact.
Just presentation ki error ho g
Nicely explained, I have one doubt, do all income Subjected to final tax will have to reflect in other receipts or only share income and profit on debit. Please explain.
Jo income separate wahn mentioned hen wo separate kren baqi other may club KR len
Very nicely explained for RDA and 0% tax deducted profit...
And same confusion i have ..other receipts me sab add kr k likhna parrega... Like naya pakistan certificate ka profit (10% tax deducted) aur RDA saving account ka profit (0% tax deducted) dono plis kr k other receipts me reflect karna parrega.. and whole amount will be in expemted section in other receitps?
Well explained, I am non resident have pakistan source of income, do I need to submit wealth statement? with tax return.
Yes
What about deduction under section 28 of income tax ordinance.if no profit on Debt is received in cash but invested in business of National savings again.
I think IRIS is not calculating correct WHT for 'profit on debt'.
I put 6,000,000 as profit on debt and the correct tax should be 1,095,000 but it shows something like 1,333,000
Yes iris now updating
Aoa bhai apka 15 percent k hisab se tax laga ya zyada laga kyun k mera bhi yearly tdr ka profit around 60 lac hai
OK updating but what about paid challan amount
Brother how have you worked out 1095000 WHT on 6000000 profit? Please if you could explain how much percent tax is charged if profit is more than five million ?
Very nice, as usual bro
AoA
Honorable sir aik fbr account say dosray fbr account main money transfer karain gay. Ya ap apni koi video suggest kar dain kon c daikho
Shukria
Ap k swal ki samjh nae aey plz Thora explain KR den
Very nicely explained specially for RDA and 0% tax deducted profit, subscribed for that😊...
And confusion i have ..other receipts me sab add kr k likhna parrega... Like naya pakistan certificate ka profit (10% tax deducted) aur RDA saving account ka profit (0% tax deducted) dono plis kr k other receipts me reflect karna parrega.. and whole amount will be in expemted section in other receitps? Reply if you know and understand my confuaion Thanks in advance
Yes other receipt may total aey ga. Reconciliation may separate kren gay
What about Bahbood and Pension
Agar kisi ki commitee nikle , jis pr kio tax nahi hota, use kis head m entry karna ha. thank you
Cash in hand
Aoa sir 2 banks ma account ha, aik bank ka profit less than 5 million ha aur dosry bank ka more than 5 million profit ha, phr entry kesy kre ge
Normal income treat ho g
Is there any benefit for those tax payers who submit there filing well before due date...
No
AoA Honorable sir meray pass cash in hand 1500000 hain iss main say kuch main nay saving account main rakhni hay to us ka leay ap ki koi video hay. Kindly guide me
Watch my video on profit on debt
Sir, i have bank profit of 6 million and national savings profit of 7 million.
Where do I enter national savings profit? This profit was for DSC and special savings certificates.
Thanks a lt
Discussed in video
I have multiple accounts & received total profit above 5 millions but not from one account, still i have select profit above 5 millions and i have rda accounts too how about that profit, shall be included and select above 5 millions row, kindly update me about it. Thanks
Thx for explaining regarding prize bonds, can you pls explain in your next video how to add premium bonds profit and tax plus if we pay tax on mobile phone how to add that one too
Mobile Ka tax yahn add nae ho ga wo mobile ki cost Ka part HOTA he
Aoa brother can you plz tell me the calculation on tax to be paid on 7million profit on debt. regards
Simple Osy final tax may na likhh other sources may normal income treat kren
AOA sir and sir Mai ntn holder ho 4 years se and koi return nai abi tak and koi property, asset nai and Maine suna Hai ke ager return file na karain toh wo khud se assessments ker ke lakho Mai tax dala dety Hain and sir Kiya aisa hota Hua and ap ke pas Kabi is tarah ke cases aye ho assessment ke and Meri income taxable nai kindly reply in detail
No normally esy nae hta. But agr ap ne return file krny he to thk krni he warna nae krni
Kindly make a video on how to make entries for Capital Gains/(Loss) and Dividents on mutual funds.
Yes in process brother. Plz stay with us
AMOUNT JO UNRECONCILED AMOUNT KO KAYSE ADJIST KARNA HA BHAI
Watch my video carefully brother
How to treat income/profits on defense savings after 10 yrs maturity similarly amount from life insurance maturity
insha'Allah I will upload video on this topic. Plz stay in touch
Your assistance is highly admired
WHT deducted by bank on profit on debt less than 5 million @ 15% should be entered either in Adjustable Tax tab or Final fixed Tab..please assist
Bai aisy kerna pls jis jaga jo cheez likhni hai sath mai name b batye is jaga yeh likhna hai or video close kr k likh k batye
AoA. Sir plz make a video how to enter insurance maturity money in fbr return. Thanks
Walaikum salam. Ok brother
Please make a video for house who have funds in savings account from her parents and she is getting profit jn saving account
Same treatment dear. Jesa is video may explain kia
Salam
As per FBR tax rate on profit above 5.0M mention as minimum tax
What rate will charge upto profit 20M from bank for an individual FY-23-24
Kindly confirm
Normal income ho g
What do you mean by normal Sir if you can give what percentage will be charged if profit is 10 to 20 Million in a financial year?
@@nadeemakhtar-bh7ni fbr charge Extra tax as amount ratio inc .mostly example .6millon.24%.so20 m. May bi36 to 38 %
AoA sir, mjy saving account say 20000 profit mila tha lakin m return m likhna bhool gia tha is koi issue ya fbr mjy koi notice bhajay ga?
No need to worry
koo issue hua bro? 1 saal myn?
@arslanawan4247 no issue bro...
My bank deduct 30 % in july 2022 because i was inactive and in jan 2023 bank deduct 15% because i become active how to add this deduction on profit
Bus total pory sal ki deduction add KR Len
The new version of IRIS still not giving the right tax amount for 6,000,000 profit on debt.
Can anyone help me?
6m normal income from other sources show krni he jesy may ne video may explain kia he
Kuch tax advisor prize bond prize ko other reciept me enter nai krty or us ko ghalt practice samajhty he ,,,wo just final account me enter kar k us k tax ko ecpense me taxes me enter karty he
In my opinion wrong treatment
But if you joint account and saving account profit is more than 5 million that want do
Pay normal tax
Or aik time itna kuch kha sumj ati hai naraz nai hona