Salary Tax Return Filing 2024 | Simple & Easy way of Filing | Reporting on IRIS | Reconciling | FBR
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- Опубликовано: 4 окт 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/message/...
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
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Jazak Allah, Brother! your video was very helpful. I am filing my own return for the first time, and you've explained everything in such a meaningful and easy way! Thank you so much!
Bro, I am an Inventory Analyst working in the US, the way you did it is quite appreciated. +
Sharing a file is better way to understand so I think you must shared the file as well for better understanding.
Nicely elaborated.
Dear Sir if an employee receives salary under section 149 and Payment for services u/s 153 1b from same employer ,will it be treated as salary in ITR and how deducted tax will be adjusted.Regards.
Yes if 153 amount is more thn 30% of total income, thn business slab rates will be applicable, otherwise salary
Good luck Pakistan and people of Pakistan zinda Baad
👍
Kindly make a video about how to report "committee" in tax returns. This is a common practice in many households and can be mistaken as a new income as per bank statements.
Yes sure.
what to put in (net assets previous year) for filing the return first time... Should i leave it at 0?
Q1. Some persons mentions their bank details in Investment (Non-Business) (Account / Annuity / Bond / Certificate / Debenture / Deposit / Fund / Instrument / Policy / Share / Stock / Unit, etc.) 7006. Is it correct or we may mention Cash (Non-Business) 7012 section. Please advise.
Q2. If a person want to remove prize bond details and last year assets shows in negative, is it impact on anything? Please advise.
Thank you such an informative content 👍🏽
How to take benefit of medical exemption if lum sum salary is 65k per month and employer is not giving this benefit while deducting the tax?
push them to give relief
I am.filing tax retun for the first time. I was working from Aug 2023 to june 2024. I understood the process
But i have also opened a saving account. So how should i add the profit and taxes deducted on it while filing income tax?
Mery case me hamei ye b ni pta k wo tax kaat rhy hei ya ni... Bs ek fixed amount pay kr dety hei baqi Kuch ni na medical na something else.
Ham kesy return file krei ?
Fixed pay likh kr ?
Respected Sir, I think there is issue in Reconciling.
You have added Gross salary ie before tax in Inflow and Tax amount amount to Personal expenses. Its giving net sum 0 but calculation is wrong.
This is ok, gross Salary added, and taxes added in expenses side, pls check again
AoA. One quick question, stamp paper wali ya kache patte wali property ko tax return me kahan show kren ge ???
w.salam same as other property
@@faheempracticallearninglike a registered and transferred property, jab k stamp property pe WH tax bhi collect na howa ho?
Sir, I am reporting foreign currency account by converting the usd with average exchange rate. However this year the exchange rate difference is around Rs 74 resulting in high value of personal assets.
How to report assets increase / decrease due to exchange rate ?
میری پھلے ایک سال میں تین جابز کیں۔اور پھر چھوڑ دیں۔ان کی ماہانہ تنخواہ 50،000 سے کم تھی
لیکن ابھی میری جو تنخواہ ہے وہ 86,000ہے((گراس سیلری) تو مجھے پچھلی نوکریوں کی تنخواہ ملا کے پورے سال کا ٹوٹل کرنا ہے یا،صرف ابھی کی جاب کی ٹیکس ڈیٹیل FBR کو دے کے معاملہ حل ہو جائے گا۔مطلب اگر میں پچھلی تنخواہیں شامل نا کروں تو پھر ٹیکس نہیں دینا پڑے گا۔
اس حوالے سے راہنمائی کر دیں۔
Could you please explain the final fixed tax and the process for filing an exporter's tax return
Yes sure,
@@faheempracticallearning when? Phele b apko bola tha
Can I do the same process, if I had part time job for few months ? Where should i declare that income? Please Reply ASAP Jazak Allah
Sir usually salary of June is received in July. In which year income will it be considered?
check employer which month tax deposit, use same month/period
Status changed from salaried to businessman this year, so how to file return with new changed status? Pls guide. Thanks.
File normal tax return
Federal Gov employee ko salary k ilawa house rent (hiring subsidy) bhi milti he every month self house ki ,,,usko rent me enter kary ya allownce me enter kary
Yes part of Salary
میرا دو کیس ہے۔ ایک سیلری کی مد میں 4 مہنے اور باقی بطور کنسلٹنٹ سروسز میں جس پر u/s 153 a 1 کی مد میں 11% انکم ٹکس کٹ رہا ہے۔ اب میں کس طرح ریٹرن فائل کراوں۔ ؟ 4 مہنے کا u/s 149 کے حساب سے ٹیکس کٹ رہا ہے اور باقی مہنے کا 11% انکم ٹیکس۔ رہنمائی کرے
Kindly advise if some one has not mentioned his provident fund in income tax return in the past year and employee has also deducted income tax on provident fund contributions, can he add inflow as "past years pf contributions" in the reconcilation of net assests for true refelection of assets or any other suggestions.
Please advise
Start now, put this year
Thank u, I will put past years in inflow and own contribution total balace will show in other assets.
Thanks
👍
Salary k sath medical allownce ,,,,and medical reimbursement ki facility and hospital ki facility b mil rai he ,,than what scenario...
Maximum 10% exempt, pls watch medical separate lecture, for better understanding
بھائی یہ بیسک کا دس فیصد میڈیکل کی مد میں exempt جو ہوتا ہے، اس کی کیا شرائط ہیں۔ اگر کسی کو کمپنی کی طرف سے میڈکل علاج فری ملتا ہو تو کیا وہ بھی اس کا اہل ہوتا ہے؟
Sir g call centre (pvt Ltd company) ki return file karnay per ik comprehensive video banay
Yes sure
Need your guidance. Mere assets me meri bike add he, mgr wo chori ho gai he. Ab usko asset me se remove kr k kidr adjust kron? Theft se related general rule b bta dain tax return me. Jazakallah
Report as loss of assets
Aslamoalikum dir sir, we want to include the on tx filer please tell me what action has been taken by me and also shared if you are filling the data at your end then who much rupees are required for said purpose as fee
Is benevolent fund and fed insurance deducted from our salary exempt from tqx ?
it is already taxes, on gross salary
Assalam o alaikum Sir
I am a student and don't have any source of income and no assets as well
Am I required to file tax return for the tax year 2024?
i am not a salary person but i recieve message for income tax return
your doing business?
Sir..aap ki Videos bohot useful hoti hain...query ye hy k main return khod file krta hon... is dafa admitted tax ko salary withholding tax main adjust kr k return file kr diya... baad main sur pakar kr beth gya... Chat GPT ki madad sy revised tax return open kia...mistake sahi kr di .. ab CPR generate kr ny ka option nhi aaraha tha.. is pr phr by mistake (lack of information) "correction of CPR" ki request file kr di... baad main youtube ki madad sy maloom howa k CPR e-payment k option sy generate krna hoga... wo kr ny baad bhi revised return submit nhi ho raha tha... baar baar error aarahi thi k "before submission must be paid admitted income tax".... kher Allah Allah kr k mustaqil submit ka button press krta raha.. phr achanak submit ho gya.... I want taht please make a video about this issue....
Medical allowance bhi salary ka part he, or employer ne full salary pr tax deduct kia he, es case me 10% exempt hoga? Or kia es ka koi proof bhi required he?
no this is as per law
if we are receiving medical as an allowance in salary then will it be exempted or not?
maximum 10%
Kindly share excel sheet for better understanding
sir a person has 60k salary in which basic salary is 35k .how can he file Nil income tax please guide..?
prepare as per working, file as per lecture, and report same, don't file nil, prepare and report actual
last year car price 10 lac, bought new car in june of 27 lac, got 10 lac from father. how can I balance this amount?
New registration k bd Meny kl hi apna first tax return file kia h, kia mujy 1000 ka challan pay krna pry ga to become active filer ???
Sir agr previous year return mien personal assests na show kiye hon or is dfa krna chahy to net assets kese chage kren?
May we reduce amount of tax from salary then calculate tax
Pls report actual
2nd Sir ye hy k ... mera employer tax deduct nhi krta.... bul k salary bhi cash main deta hy..... or appoinment letter pr salary distribution is trah thi.. basic salary 60000...medical allowance 10000, commute allowance 10000, telephone allowance 2500.... ab kia is soorat main salary return tax file kr te waqt tax main kuch benefit le skta hon ya nhi????
My employer paid me gratuity but didn't deduct 75,000 allowed under law and deducted full tax. Can i claim this 75000 allowance from gratuity payment in tax return and get tax refund?
Yes
I received honorarium from my government department but AG did not charge income tax. What should I do? If I add honorarium , my tax is increasing. What should I do ?
Which department?
@@faheempracticallearning
Provincial Government department
May it be entered under services for additional 10% tax or mention in exempted
Kindly share if there is any WhatsApp number ,you can provide guidance through
How to adjust loan receive from some one thru bank
I am first time filling salary return. Should i file for only one year or some previous years also?
File July 2023 to June 2024 only
@@faheempracticallearning same situation here.
I have Filed the tax return of fiscal year 2023 but my status is inactive .
Should I pay the Challan of 1000 to be in the list of ATL or wait for a few days?
I need your guidance. Thank You!
@@Hassaniewrites.2643 Just file current year only return
Sir mera case hai basic sallary 793,389 medical allownce 18000 gross sallery with all allownces 2192803 income tax deducted 130789 ab admited tax 6067 aa rahi hai,kaise exmept hogi ye tax ???
Exmept men 18000 daal raha hun main
Sir us video ke Link share Karen jis m other transactions boht hoti hain Banks m?
ruclips.net/video/7GrZITNkgCU/видео.html
AOA, What about those persons who are getting salary via cash not through bank transfer ? How they will file their IT Return ? Please reply.
same issue
Being mother i hv left my job after 8 years of job. Should i file return too every year?
Your ntn have?
@@faheempracticallearning yes I HV NTN .and hv bank transactions too from my husband for household expenses
Visiting faculty ki first time return file krna sikha den please.
Yes sure
Meri main income salary say hay laikin kuch income profit on debt aur mutual fund say bhi hay. Is kay ilawa main nay aik property buy aur aik sell ki hay. Agar main salary wali return select karoon to theek hay?
Yes ok
@@faheempracticallearning Okay many thanks
@@NajamSheraz-t5n 👍 👍
Bro mri 20-21 ,21-22,23-24 three returns a ri hn jo ni krai mn submit ab mn 3no ko kraon ga ya sirf 23-24 ki?
Inherited property Pakistan 1/3 two share purchase ki ha wo USA dollar payment ada ki ha ham 3 sister USA ma Rati ha iss ki amount wealth statement report kasa Karni ha purchase amount kasa likni ha payment to Pakistan ma nahi di
1st Report remmidance, and then Report property in wealth
Sir capital asset ma exemption ma
Select other and mention
Provident fund ki kiya treatment karni hay main bank employee houn provident fund ka do portion haotay hain aik apna share dousra bank share
dear sir, ma kassay unkwanon waja saa filer hoo gaya hoo or marey amden (dounation) kee maad maa salana 1 M saa kum haa maa kassay returan file kar sakitay hoo
if someone taken loan fo home mortagaue . is there any rebate for him
No
what if anyone is receiving salary as a remittance through wise
Abdul hameed wah cantt sir 2020 my fbr my registration hui ha govt job ha files retern NY Karvy han AK house ha Mary Nam sir rahnumy fermy
Sir can you share these templets?
How to mention pension in tax return?
Report in other revenue, under head of pension
I have sold a car which was included in my return last year in November, how can I mention it in current year return?
Just remove from the Assets if sale price is the same as the purchase price. Otherwise Gain will be paid.
@@MuhammadImranAdv it was purchased in 2015 on installments , cleared in 2019 and sold in 2023, what's the gain?
AoA Faheem shb how I can get this Excel template
sir plot on installment how to report... and plot or file..plz
How much paid till 30th June report the same amount as an asset
@@faheempracticallearning thanks dear brother.
Sir Agar koe cash par kaam kr raha ho toh woh kasey file kary
which work
Is eobi exempt from tax ?
already taxed, from gross salary
1 quick question, FBR maloomat page payment and withholding section me tax deduction show horahi he section 153 (1) (a) k teht, wo tax kese adjust hogi, kis jaga enter krna he?
Report under minimum tax
Thankyou sir@@faheempracticallearning
@@sadiq-qm4fb 👍
@@faheempracticallearningAoa bhai,, Mery abu ny umra py jana hai abi october mn, unk name py 2, 3 shops hn jo 2010 k lag bag buy ki thin, usk ilawa aur assets nhn hn na he bank account wgra hai, to unki entry lazmi hai umra py jany k liay? kya tareeqa kar hoga,
Ammi ky naam par property thi, usky sale proceeds hum siblings ky bank account mein aye hain tou uski declaration kis head mein hogi?
@@phoenix_rph wealth statement mein gift ky head mein entry hogi aur uskyliye gift deed bhi reqd hai
bhai jan FBR k MIS p jo withholding tax ka data aa rha hy woh bhi enter krna hy ya ni? salary return file krny liay
Yes it should be reported
اسلام علیکم ورحمۃ اللہ وبرکاتہ
Rent ki amount you Withheld adjustable mein jae گی aap بی rent mein kyun likha اُسے.
1st need to report rental income, after that in adjustable tax
sir gratuity iris me kon sy portion me add hogi
Retirement
Gp fund and benevolent fund ye kaha ad ho ga and kya ye dono deductible hon gy gross salry sy as i have salary under 5lac plz guide kr dein
Agar apsy tax return file krwau aj to kitni fees wagera hoti h
wa.me/message/5BNUTBJFAPHUN1
click on this link for further details
Agr koi unemployed hai to wo kese tax file kre
Agr mjy 1 rupy b is government Sy faida hota tb tax deta , Dil hi nhn krta k file krun bnd krni hyn sims kr den bnd ,
Please share Excel Sheet
Make a video jis m ap yeh btay waha kn kn si income aur expense yah asset or liability kaisy enter krni hai. Give us that knowledge. Yeh reconciliation kisi b country ka accountant ho us pta hota hai. thank you
Yes sure, already have lecture on this topic, pls watch previous salary lecture,
Sir ap online ye work sekha dety hn?
wa.me/message/5BNUTBJFAPHUN1
Click on this link for more information
Can you please share this sheet
Overseas pakistani kya karyn?
Non resident
Greyson Fall
😂
Brenda Vista
😂
mene last time 2022 mein income tax return file kia tha aur 2023 mein ni kia. ab mene 1 month tk travel krna h to mein 2024 ka income tax return file krn ya phr 2023 ka bhi?
Share excel file pls
Yes sure
@@faheempracticallearning pls sir..Jazakallah
@@faheempracticallearning please share excel sheet
Confusing
you can ask your issue
@@faheempracticallearning mn father k Ghar pe rehta hun Jo SB sisters and brothers ka he father k name pe he, agay jakr woh distribute hona he muje bhi share milna he
Asset k se declare krun Jo Mila bhi nai, agay jakr milay to
Aoa... Sir kindly share this Excel file...