How to File Property Income Tax Return 2024 | Rental Income | Saving of Tax | Up-to 24% | FBR |
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- Опубліковано 23 сер 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
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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
MashAllah .faheem bhai u really explain comprehensively
@@Adnanbhatti788 👍
Very informative video. Please make a video on Agriculture income tax and if someone is Salary, agriculture and services income . Waiting for your video
@@umarhayat8429 yea sure
Faheem bhai, aik video Property Sale ki return filing ke oper bhi bana dein. Example is: Property Sold after 8 Years of acquisition. No CGT applicable. FBR Value of Property is: 1 crore, sold @ 1.5 crore. Amount received in Bank Account. 236-C paid @ 3% of 1 crore (FBR Value) and Sale Deed registered @ 1 crore (FBR Value).
@@hasanmunir7330 yes sure
Your videos are highly recommended and very explanatory. I have humble request. I am government Contractor and have company account. I own many government contracts from different departments. When I receive a cheque from any department for my contract. The department deducts the Income Tax and Sindh Revenue Board tax. Kindly make a video on how a government Contractor can submit their annual income tax returns. I will be very thankful.
Yes sure
Masha allah good
@@khansaab3244 👍
Well Explained. Please make a video for 236C & 236K for Non-Residents
@@DilshadRVirk yes sure
Very informative video sir instalment pr lia plot ko kese deal krengay ispr video banao
Yes sure
Fahim Bhai the way you explain and cover everything is highly impressive...
Please make a video on business income for distributors and commercial importers
Besides, Can you share this excel file to me
@@rizwanchandiwala yes sure
@@rizwanchandiwala 👍
Nice one
👍 👍
Great work sir,thanks
@@mehboobalam6447 👍
Faheem last year car add ki thi to is year bhi usko show Karna pary ga
Very informative video, I have a small question, I have purchased property via bank and also given on rent, I have to pay to bank including rental income and insurance, would this amount is also deducted from the rental income which is more than I have to received.
insurance is deductible, if really related to property
A.o.A I will fill un ballot plot Dha Lahore but statement shown Dha Islamabad pH 13 kindly resolve
Sir, when 1/5th deduction available, if we never utilised any expense against tear and wear, then the amount of 1/5th become the part of cash inflow and become the part of wealth?
Yes report in exempt same
Match total
Please make a video on final fixed of trading and services waiting for your video 😊
@@UsamaHussain95 yes sure
I have a question regarding salary taken as per Section 42. How to show that income during filing tax returns
@@muhammadumaraslam2298 watch salary lecture
I have seen the complete lecture but there is no information mentioned about how to file income as per section 42 in IRIS @@faheempracticallearning
I have seen the complete lecture but there are no details regarding filing income as per section 42 on IRIS. Where should I show it on IRIS?
@@muhammadumaraslam2298 watch salary lecture
Agriculture heredity land only capital assets m likh do or surcharge submit kr do done ho jye ga ya or b kch likhna h
@@Samyyy631 for this pls watch 7E lecture for complete understanding
@@faheempracticallearning Alright thank you
@@Samyyy631 👍
AOA..Thanks for the useful information...Could we deduct, previous financial year extra tax paid..Thanks
w.salam in relevant period we can adjust the tax paid
Sir ager plot purchase kiya he out advance tax and stamp duty etc diya he to us ko kese show kerain gain?
Advance tax under adjustable and stamp duties all part of expenses
Can we adjust children's university fees in our income tax return?
Pls share these excel sheet format
@@theskynews2446 👍
❤
@@raheelwaheed8366 👍
appreciated and informative please guide us on kp excise property tax they charge us 15 percent on gross rent and don't give us deduction like income tax is that fair
dedution available
@@faheempracticallearning i studded their bylaws online they have no provision if any please inform in video for the benefits of others also
Sir business ki return ki video bnaye.
Yes sure
Business income tax return first time return and assets declaration in 2024 pe video bna dein ?
Yes sure.
@@faheempracticallearning thanks
@@MuhammadBilal-km1ki 👍
Sir property value agr tab m na likhi jae tb b chalan form submit ho jye ga?
But we must have some property, otherwise how to take and report rental income
@@faheempracticallearning Okay
@@Samyyy631 👍
@@faheempracticallearning Thank you🙂
@@Samyyy631 👍
Aoa, If a house / property value is reduced, under what head reduction in property value is shown in FBR tax return?
(Property is still owned by the person).
W.salam any increase or decrease in value, will report in the form of gain or loss at the time of sale, every year not update
I am a filler.
I had purchased a plot of 5 marla in 8 lakh kia mujhy ab koi salana tex pay krna hoga
As.salamolikm Sir, 1/5 repair wala deduction agr mai minus na karun rent sy and baqi deduct kr k reconciliation mey ly jaun as a inflow then ? q k actual mey zaruri to nhi utna hi mera expense repair py laga ho so agr nhi laga to mai q apna wealth kam karun us expense ki waja sy jo actual mey huwa hi nhi ... kindly apni qeemti rai share ki jiye ga
@@JawadKhan-fw7tm report in exempt inflow
@@faheempracticallearning jazakAllah for your opinion Sir
@@JawadKhan-fw7tm 👍
ایک سال کے دوران اگر پراپرٹی خرید کر بیچ بھی دیں۔ٹیکس ریٹرن میں اسکا اندراج کیسے کریں
For this we just need to report gain and loss if any
@@faheempracticallearning That means we should not show this type of property in our assets
,1/5 of rent all so in my bank you have not describe this 11:34
amount how to make my wealth part of this well black.
Report in normal and exempt income in wealth
If a person receives rent 600000 annual
After 20% deduction 120000 = 480000
In wealth reconciliation statement what amount enter 600000 or 480000
@@ziacompany8023 better to report 480K
Some amount will be written in wealth reconciliation statement in inflow section head(ie amount exempt from tax) from property income
@@haroonansari1235 yes we can also mentioned, if actually repairs and maintenance is less
@@haroonansari1235 agreed
Is property income tax is separate slab or have to add property & salary income together to calculate income tax if some one have salary from income also .
Aoa Sir kindly guide me how can I submit IT return I am a doctor and work in private hospital with No fixed salary . They pay us on daily basis in some months I work for 15 days some times 21 days in a month. How I have to proceed. Pl guide
Same process, club all your income in one sheet and report same, as explained in lecture
کرایہ کے علاوہ جو سیکورٹی کی رقم لی ھو وہ کسی جگہ لکھیں؟؟
@@miansaeed2001 in wealth, as advance
@@faheempracticallearningno sir property ma hi 1/10 of amount not adjustable against rent ma entry ho gi
@@miansaeed2001 yes as per law need to pay
Sir how to file tax return for a laboure ?
?
@@faheempracticallearning sir mazdoor apni return kesy file kry ga... Wo log jo dehari wegra laga kr kamaty hn
how to gift property or gift amount
Amount must be via banking channel and for property there must be gift deeds, dully signed by both parties
@@faheempracticallearning and if family mamber buy property for you name then and you pay the tax
@@nazaratbranch2851 yes
@@faheempracticallearning sir na tu payment mery bank account aai. parents ny properly mery nam buy ki, maery nam he fee pay ki, ab wo property and peroperty ki amount kkisy addd krni
4% se zaida rent collection charges ni ho skty?
No
As per law. We can claim maximum 4%
Property TaX deduction kahan show karein
@@muhammadwaqas9787 already explained, pls watch
Please share excellent sheet
@@shajaisaleem5909 👍
AOA, thank you for the detailed video. i would like to know whether you can be hired to file tax returns for individuals?
W.salam yes our paid services available
03007574731 pls contact