How to save Income tax on Salary Income | Exemption | Logic | Practice | Within Law | FBR |
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- Опубликовано: 20 сен 2024
- WhatsApp link for further details of Practical Taxation Course
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Anyone interested to learn Pakistan taxation including E-Filing of both sale tax and income tax please WhatsApp or call at 03007574731.
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
#saletaxincometax
I have worked in numerous organizations and the same happen there. In the absence of adjustment claims, employers deduct taxes aggressively. One thing which I persuade to employers specially the tax managers there that they should counsel the employees as they are lay man so do not assume them tax experts and do not expect that they will come and claim themselves if any. Anyhow, You have covered very good area and I must say all of your videos are from practical side.
Good information 👍
@@malikshukat7287 👍
bhai provident fund per bhi tax deduction hoti hai.
My employeer is deducting one part of the PF
PF = employee part + employeer part
they are deducting on 1 part and not mentioned which part in salary slip
is this correct to deduct tax on any part
Yes, on some certain part, check lecture of PF for complete understanding
Increments or bonus per kis tarha tax calculate kia jata he ?
Agr Kisi ki payslip per already medical allowance available ho to us per 10% medical exemption hoga Yan nai ???
Asalam o alikum,
First, if an employee joins in December with a salary of 100,000, should we apply tax on his income?
Second, if an employee's salary was 40,000 in November but has now increased to 75,000 in December, should we apply income tax on his salary?
Thank you.
Sir 1 important baat pochni ha k sary banks , telecom companies tax certificate year end pr issue krty hen or tab tak employer complete tax deduct kr chuka hota ha us waqat wo kehty hen k ab ham adjust nhn kr sakty ap FBR sy claim kr len...........jo k hamary jaisy aam bandy k liey impossible ha ..........is sourt-e-hal men kia kren .........please guide
@@shaam1511 any time, you can take, from telecom companies
Brother as per rules medical allowance is exempt upto 10% of basic salary and any medical allowance in excess of 10% of basic salary will be considered for addition in taxable salary right, But you are are directly deducted 10% of basic salary in respect of exemption of medical allowance from basic salary which need clarification for better understanding. Kindly explain
Yes same, maximum 10%
Ager ap switch kro company 15 days aik jaga 15 days dusri jaga in a year then woh salery kesy add karein gy total yearly salary main
Please guide
For example
1 company main salary thi 1 Lac
Dusri main 1.5 lac
15 din apny 1 lac main kaam kiya 15 din 1.5 lac wali main kaam kiya
Toh yearly salary main 1.5 lac wali count hogi ya 1 lac ya dono ki half half
New company will calculate salary tax, based on actual payments, if amount is taxable thn they will deduct
if the employer is not subtracting the 10% medical exemption, do we have any allowance or credit for this, when we are doing our own individual tax filing.
In tax return, you can claim 10% , and this is adjustable, again any other income, if taxpayers have:
Good info
👍
Ager company se loan laty hn farz ho 200,000 or salary haa 52000 + incentive 30,000 ab loan ki installments cut rai ha or basic salary transfer ho 52k ki bjye 32k tu tax ma salry 52k laiin gy ya 32k? Monthly basis deduction ho rai haa
@faheempracticallearning
I have different opinion like 100 k can not be set as basic salary.
Basic salary can be upto 60% or total salary, it can not be increased or reported more than this
Yes, agreed, for internal HR or company side we can make like this, but for taxation side if basic salary is more than more benefits, in the form of medical exemption
AS Salamu alikum sir Life Insurance k treatment pey koi vedio hai tu link mansions kar dain,
Yes sure, in future
Great sir. 👍
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Sir gross pay total krn ya net salary ? For tax return
Gross salary
Assalaam o alaikum Sir hum is medical allowance ki amount ko return me kahan record kerenge?
in salary income tax, exempt 10%
Pension, gratuity and provident fund per tax exemption he?
Kia property purchase krty waqt jo tax pay kia jata hy tu wo adjustable hy??
Yes
Sir hamry han consudilated salary milty hy to kia ham consudilated pr 10% lysakty hrn
Yes if not separate, mentioned on salary slip
Bohat ALA ,....
In case of any leave without pay, on what amount will the tax calculated? An amount after deduction of leaves or the actual monthly gross pay of 30 days ?
Yes, on actually amount, after deduction
@@faheempracticallearningSir, remaining taxable salary after deduction of leaves?
@@irtikhan2602 yes,
Sir advance tax next year bhi adjust hosakta hay ? ya 2 saal tak? iski time limit kya hay ?
sir you have missed in this lecture TA DA exemption kindly explain.
Ta / DA always taxable
Pls guide.
Salary tax refundable previous years ka current year se adjust karsaktay hein?
Yes but only in annual tax return, not at source
@@faheempracticallearning
Sir
Annual me kese adjust karegein? Jiski income sirf "Salary" ho tu oska tu hamesha refund he aaega.
Tax year 2022 mi ny 236k mi 45k pay kiy hen ki wo mi 2023 mi apny employer say certificat show Kara kr tax adjust Kara sakta hon
Bhai Video boht achi h but practically 1 return submit karky bataen ye sab kis kis jaga likhna hoga
sir govt main tu gross main pension bhi hoti hai pf bhi hota hai tu gross main se pension n pf exempt karke tax banay ga humaray dept mai pension exempt kar ke tax detect hota hai
Please clarify:
HEAD OF INCOME: SALARY
SECTION 12
3[Explanation.- For removal of doubt, it is clarified that the allowance solely expended in the performance of employee’s duty does not include -
(i) allowance which is paid in monthly salary on fixed basis or percentage of salary; or
(ii) allowance which is not wholly, exclusively, necessarily or actually spent on behalf of the employer;]
Explanation added by the Finance Act, 2021.
Check lecture again this concept already explained.
Very Nice Video Bro - Love you ho gya
Sir kia Govt. Employees k ly b ye rule Hy.??
Dosri bat ye Hy k Medical and Conveyance allowances b kia exempted hn??
Sir, fuel card use nhaee kya full month and employer ny fuel allowanance employee ko bank transfer kr daye to is rakam ki employee apni return me kesy treat krain ge, taxable/ exempt/expense reimbursed?
Aoa Sir, income tax me refund wale colom me hum kitne years ka tax refund kr sakte ha? agr tax payable me raha ho to.
W.salam watch refund lecture
Nice
Assalam o Alaikum Sir, We have a car and selling. Is there any capital gain tax on selling the car when sale proceed is more than cost of car. Should we charge capital gain on whole or partial
are medical reimbursements exempt or not? Its not mentioned in salary slip as a medical allowance. Its reimbursed on medical bills.
My company allow me Medical bill reimbursement, can we avail 10% medical exemption in this case.
If reimbursement add in salary tax calculation, thn you can claim 10%
AOA, is there any benefic on Zakat (private charity) and on children education. Regards.
Sir salaried person ko basis pe 10% medical exemption milti h wo kahan p likhengy or kesy exemption avail kr sakty hn ? Please help 🙏 make a video please 🙏
Sir mutual funds me abhi tax exemption hai? us ki conditions bhi hein koi?
Its incomplete info about medical exemption,,, ager kisi ki salary me medical allowance lg raha he , jesy sary allownce ap ny bty he ,, to kon c amount li jy gi ,,,basic ka 10 percnt ya medical allownce.....
watch old lecture for complete understanding
Sir, what law guide about services, like our employer, is providing services outside Pakistan . Is there any benefit for employee.
It's not an IT service.
It's a remote service like an account and finance
10% medical exemption is available only if the company is not giving any medicial facility.
Even giving thn still as per rule we can claim, upto 10% of basic sales. For more details check lecture of medical exemption
Really?
👍👍👍
Sir zakat paid to registered organisation. How much income tax can be saved?
Sir can we split salary in two accounts to save Income Tax...😂
On same time we can't
10% medical exemption kis jaga likhna hy returns mai
Exempt