I have a question here: If a person is purchasing a property for own personal residential usage with no intentions of selling it. A person purchased property in 10mn (market value) whose fbr value is 4mn. The advance tax 236k was paid at 4mn (fbr value). The 4mn payment was paid by purchaser via bank account and remaining 6mn paid in cash. The agreement made b/w buyer and seller is of 10mn (market value) with information written that 4mn paid through chq#1234 and 6mn paid in cash. Now the person declared the fbr value in tax return. That is 4mn In the above scenario the agreement in your record says you purchased a property in 10mn but you declared its value 4mn in tax return. So who can we justify if fbr asked us to furnish a sale/ purchase agreement?
Actual price be recorded in tax return. If ur annual income is 2 million and ur personal expenditure are shown 1m in the return, so it means ur assets have increased by 1m. Say u purchased plot of1 m with this saving. If u show plot value as 0.6m then where u will show the remaing 0.4m amount. Ur return will not reconcile. So actual value be entered in return.
Ek plot jis ki value 90 lakh return me show ki hoi he,,ab isko sale kia he to is ka dc rate 30 lakh he or tax b dc rate par diya he ,,,ab return me recording kesy hogi ,,amount ager 90 jis par sale hoi he , wo record kary gy to fbr tax dc waly tax say zyada calculate kary ga?
Please ek vedio bnaien k wo log jo sales tax mai registered nhe tou uski local sale aur purchases kesy bnien. Also refund aur admited tax ko kesy devide kerty hain to add or less income mai. JAZAKALLAH
Agr mein apni first return 2022 mein file kr rha hon but mery pas properties and other assets 2015 se hein Tu mein wealth statement mein assets 2022 mein kis value per likho ga? 2015 mv 2022 mv 2015 dc 2022 dc ?????
Last Year tak tou capital gain tax return mein after 4 years zero capital gain tax tha ... Iss saal se return mein ye period barha ky 6 years kar diya hy. Kia 6 Years ka period Open Plot aur House ky liye same hy?
Good afternoon sir. If we declare property at dc or FBR rate u/s 236 k like 1 million for one Marla and FMV u/s 68 (4) is higher than FBR rate like we Rs 2 million for buying, so on which value 236 k would be paid. Thanks and Regards
Sir it is very informative video. I sold a house whose FBR (Fair market value) is Rs 1crore and 30 lakhs which is higher than the actual sale value which is Rs 1 crore. I paid Advance tax on FBR value. Which value I should write in the return? Thanks.
Please respond, In case of sale of property and we have to pay Advance Tax as 236c. In which we can calculate tax amount on DC rate or Actual sale price?
Bhai ap ne seller ka case ni btaya. Agr property 6 years ke bd sale kr rhe ha to capital gain tax 0 ho ga. Ab agr fbr value 5 million ha n ma us pr 236 c pay kr deta hn. Actual sale 10 million ki hui ha. Jb ma 10 million return ma show krn ga to fbr notice de skta k ap ne 10million pe kyun ni tax pay kia?
Aoa. Sir capital gain tax ( fbr rate at time of sale - actual amount declared at time of purchase ha) ya phr ( Actual sale amount - actual amount at purchase ha). Because ap ne sale krte waqt fbr value li ha example ma
property buy in 2010 now while filling the 1st income tax return which amount should need to be mentioned purchase value or the value mentioned in registry or current market value please answer @
Good topic and you explained very well. My question if we will show in fbr1.5 million and dc rate was 1 million and advance tax was also paid on 1 million. Will we pay more tax in fbr with tax return.
Assalamualaikum, I am a tex filer. Bought a plot on instalment. Builder said to pay half of total on cross cheque and remaining can be paid on cash. Is it right. Please advise Sir.
We are bound to enter that amount on which tax deducted. If we have paid extra amount than that of amount in Maloomat then what should we deal with the difference amount. Reply us thanks
Property bought at 20M & Paid 100% transaction via BANK, sale agreement also at 20M. FBR value is 10M & at the time of sale deed tax paid u/s 236k at 10M What amount should be declared for the property ?? Either 2M or 1M ??
Agr father ki death ho jae r property apny nam register na ho r property KO sale krna ho to kon kon se tax lge gy . Agr registery krwaen to taxes SE kese bacha ha Sakta h
I bought my flat 9 years ago. But If I sell it today, I have to pay CGT regardless of holding period, according to new law. This is the law in Karachi as of 2023.
There's a common misunderstanding between CGT & advance tax in khi they both are being used synonymsly, confusion arose from holding period, previously advance tax was also waived off after a certain holding period (eg: after 4 years) now the holding period is no longer applicable on advance tax you have to pay it no matter the holding period (3% filer) however holding period is applicable on CGT (different for plot, flat etc). To summarize adv tax is applicable ir respective of holding period, CGT is applicable as per holding period (zero after a certain amount of time as per type of property).
@@col.octane1603 So i will be paying advance tax not CGT. I think you are right because the rate was not FBR based too, it was some thing else per square foot. Thanks for clarification.
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Sir Mary mutabiq is lecture main Kafi masly hain jis ko theak karny ki zarorat hy.
You can openly discuss,
Within law you can discuss
I have a question here:
If a person is purchasing a property for own personal residential usage with no intentions of selling it.
A person purchased property in 10mn (market value) whose fbr value is 4mn.
The advance tax 236k was paid at 4mn (fbr value).
The 4mn payment was paid by purchaser via bank account and remaining 6mn paid in cash.
The agreement made b/w buyer and seller is of 10mn (market value) with information written that 4mn paid through chq#1234 and 6mn paid in cash.
Now the person declared the fbr value in tax return. That is 4mn
In the above scenario the agreement in your record says you purchased a property in 10mn but you declared its value 4mn in tax return. So who can we justify if fbr asked us to furnish a sale/ purchase agreement?
Actual price be recorded in tax return. If ur annual income is 2 million and ur personal expenditure are shown 1m in the return, so it means ur assets have increased by 1m. Say u purchased plot of1 m with this saving. If u show plot value as 0.6m then where u will show the remaing 0.4m amount. Ur return will not reconcile. So actual value be entered in return.
میں نے کچھ رقبہ ایک سال بعد مکمل ادائی پر سیل کیا۔ کچھ رقم ایڈوانس لی۔ اسے کہاں شو کروں اور کیا اس پر ٹکیس ہوگا؟؟
Sir agar 3 partner property sell kar rahay hain to sirf 3% tax daina paraiga ya 3 partner kay hisab say 9% tax ada karna paraiga?
Sir agr dc rate ziada ho aur actual rate kam ho to kon saa declare karain
Ek plot jis ki value 90 lakh return me show ki hoi he,,ab isko sale kia he to is ka dc rate 30 lakh he or tax b dc rate par diya he ,,,ab return me recording kesy hogi ,,amount ager 90 jis par sale hoi he , wo record kary gy to fbr tax dc waly tax say zyada calculate kary ga?
Please ek vedio bnaien k wo log jo sales tax mai registered nhe tou uski local sale aur purchases kesy bnien. Also refund aur admited tax ko kesy devide kerty hain to add or less income mai.
JAZAKALLAH
Already have lecture, watch one by one
JazakAllah
Thank you very much. This video solved a lot of confusions.
👍
Agar overseas Pakistani property kharidts hai to is per FBR ka Kitna tax hai aur agar sale karta hai to phir Kitna tax hai
Agr mein apni first return 2022 mein file kr rha hon but mery pas properties and other assets 2015 se hein
Tu mein wealth statement mein assets 2022 mein kis value per likho ga?
2015 mv
2022 mv
2015 dc
2022 dc ?????
Sir
ik bandy ne ager ik property Tax Year 2015 mein purchase ki aur January 2023 mein sale kar di. Uska capital gain tax pay karna parey ga?
Last Year tak tou capital gain tax return mein after 4 years zero capital gain tax tha ... Iss saal se return mein ye period barha ky 6 years kar diya hy. Kia 6 Years ka period Open Plot aur House ky liye same hy?
Non resident per property purchase karne par Kitna tax FBR ka or Sell per?
In case of sale of property, if the sale price is more than the DC rate or FMV, which value we need to Report in Tax Return DC or Actual ?
Good afternoon sir. If we declare property at dc or FBR rate u/s 236 k like 1 million for one Marla and FMV u/s 68 (4) is higher than FBR rate like we Rs 2 million for buying, so on which value 236 k would be paid. Thanks and Regards
Sir it is very informative video. I sold a house whose FBR (Fair market value) is Rs 1crore and 30 lakhs which is higher than the actual sale value which is Rs 1 crore. I paid Advance tax on FBR value. Which value I should write in the return? Thanks.
In karachi my relative has sold prooerty and his agent paid challan on 236k as capital gain by calculation .what should he do ?
Please respond, In case of sale of property and we have to pay Advance Tax as 236c. In which we can calculate tax amount on DC rate or Actual sale price?
Bhai ap ne seller ka case ni btaya. Agr property 6 years ke bd sale kr rhe ha to capital gain tax 0 ho ga.
Ab agr fbr value 5 million ha n ma us pr 236 c pay kr deta hn. Actual sale 10 million ki hui ha. Jb ma 10 million return ma show krn ga to fbr notice de skta k ap ne 10million pe kyun ni tax pay kia?
what if DC rate is more that sale price
Yrr koi bhi ya msla solve ni kr paraha sir g. Kya krnnn hm ny bhi ghr lyna ha bt yahi issue araha ha ky kya krn..plz help me
What if property actual value is less than dc rate? I have one such scenario.
Gift ke bad kesay file kerni hai ?
salam faheeem sahab, aap ka kehna hai ka purchase actual par hai declare ki jaey, yani 15 lakh as per your example!
yes
so that we can save capital gain tax
and its also more logical
Wow great video Sir thanks for my clarification
Sir! How to add property value if we are making construction on it slowly in each year?
@@iftikharhussainshah6915 increase value, based on actual construction, every year
Aoa. Sir capital gain tax ( fbr rate at time of sale - actual amount declared at time of purchase ha) ya phr ( Actual sale amount - actual amount at purchase ha).
Because ap ne sale krte waqt fbr value li ha example ma
Which value reported
In which category a salaried person will fall to file income tax return after his retirement?
@@ZafarIqbal-mw4oe normal return, same as previous
agar dc value return main mentioned ker di to kia ab change ker sakte hain. If yes, how?
@@TariqAziz-jy4gq if in previous return now cab
Sir please if properly purchase
And cash balance not available in return so now position is over weath not reconciliation plz advise
If no source how to purchase, report actual data, real things, pay tax follow rules
Jin loggo nay 5 sal se phele declare ki ho un per b implementation hai ?
Yes
اگر غلطی سے asset ڈالتے وقت زیرو ویلیو ڈال دی ہو تو کیسے درست کر سکتے ہیں۔
Yes
@@faheempracticallearning kia matlab?
property buy in 2010 now while filling the 1st income tax return which amount should need to be mentioned purchase value or the value mentioned in registry or current market value please answer @
Registry value
thanks@@faheempracticallearning
Good topic and you explained very well.
My question if we will show in fbr1.5 million and dc rate was 1 million and advance tax was also paid on 1 million.
Will we pay more tax in fbr with tax return.
Because on dc rates already paid, as required by FBR
Thanks for quick reply.
What I understand, 1.5M can be shown in fbr return and not to pay any more tax.
Is my understanding correct?
@@IkramAli-w4z if capital gain not paid, after some time your will receive notice to pay
Assalamualaikum,
I am a tex filer.
Bought a plot on instalment.
Builder said to pay half of total on cross cheque and remaining can be paid on cash.
Is it right. Please advise Sir.
file your return to save income tax, ask him what is the benefit
of this?
We are bound to enter that amount on which tax deducted. If we have paid extra amount than that of amount in Maloomat then what should we deal with the difference amount. Reply us thanks
No,
For taxation, DC rates are ok.
Property bought at 20M & Paid 100% transaction via BANK, sale agreement also at 20M.
FBR value is 10M & at the time of sale deed tax paid u/s 236k at 10M
What amount should be declared for the property ?? Either 2M or 1M ??
The sale deed should be Rs.20M and 236K to be on Rs.20M.
It will keep you safe in all aspects but to pay more stamp duty & 236K amount.
Gain tax adjustable or final ?
236C adjustable, gain tax in liability,
Dc rate kaha sa mila ga?
@@AnabiaYusrakid from land record office
Agr father ki death ho jae r property apny nam register na ho r property KO sale krna ho to kon kon se tax lge gy . Agr registery krwaen to taxes SE kese bacha ha Sakta h
In that case, all non filer tax rates
What is gain tax rate in 23-24
Watch gain tax lecture
Jazzak Allah
@@muhammadimran-hr9bc 👍
I bought my flat 9 years ago. But If I sell it today, I have to pay CGT regardless of holding period, according to new law. This is the law in Karachi as of 2023.
There's a common misunderstanding between CGT & advance tax in khi they both are being used synonymsly, confusion arose from holding period, previously advance tax was also waived off after a certain holding period (eg: after 4 years) now the holding period is no longer applicable on advance tax you have to pay it no matter the holding period (3% filer) however holding period is applicable on CGT (different for plot, flat etc).
To summarize adv tax is applicable ir respective of holding period, CGT is applicable as per holding period (zero after a certain amount of time as per type of property).
@@col.octane1603 So i will be paying advance tax not CGT. I think you are right because the rate was not FBR based too, it was some thing else per square foot. Thanks for clarification.
7E Tex khtam ho gya ha
NO
50% FBR mey dain aur 50% bacha lain
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