Advance Income Tax | Who will pay | How to calculate | How to Reply | Exemption | FBR |

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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.
Click on below WhatsApp link for further details of Practical Taxation Course
wa.me/923007574731?text=Pract...
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

Пікірлер: 85

  • @raziuddin4516
    @raziuddin45163 ай бұрын

    Bast lecture faheem bahi

  • @faheempracticallearning

    @faheempracticallearning

    3 ай бұрын

    👍 👍

  • @nadeemhussain8905
    @nadeemhussain89057 ай бұрын

    Bohat achi video❤

  • @faheempracticallearning

    @faheempracticallearning

    7 ай бұрын

    👍

  • @mohammadrashid9686
    @mohammadrashid968610 ай бұрын

    AOA sir May ny aik chez pochna ta k capital value tax on vehicles (CVT) adjustable ha k nh agr ha to IRIS may hum ny kaha py adjustment krni ha

  • @user-mk4he2vb9l
    @user-mk4he2vb9l10 ай бұрын

    Sir kia karachi yani outside Punjab main bhi 7e yani deem income form main fair market value kia cost he likhi jaye jee karachi main out side punjab? Thanks sir

  • @SyedAsif-tr3zb
    @SyedAsif-tr3zb6 ай бұрын

    Mashallah jee

  • @faheempracticallearning

    @faheempracticallearning

    6 ай бұрын

    👍

  • @hameedhussain2218
    @hameedhussain221810 ай бұрын

    Aoa sir As I had asked earlier also in coments of your video lec about Punjab High Court decision in which you clarified that cost value & fair market value are to be filled same in the property of 7E form. Can we use this formula for Islamabad plots also or otherwise. Requested for reply.

  • @sajjadjamil7594
    @sajjadjamil759410 ай бұрын

    If after 3 years maturity, profit on National saving certificate more than 5 million, will be treat in normal tax, it will also be paid advance tax next time ? it will only one time after 3 years

  • @shahidmorning4947
    @shahidmorning494710 ай бұрын

    Falt purchase Kiya year 2020 secoend flat sale kiya 2020 ma per return ma likh na bhol gaya ap year 2023 ma return ma kasa likh please guide karh

  • @asadrasheed1984
    @asadrasheed198410 ай бұрын

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    👌

  • @possofwares5732
    @possofwares573210 ай бұрын

    AOA- Received a notice of Advance Tax u/s 147, In PLS Saving Account Tax deducted after every six month along with bank profit, in that case how can we calculate/estimate Advance Tax u/s 147 in this scenario . Thanx

  • @hanifmuhammad584
    @hanifmuhammad58410 ай бұрын

    AoA Thanks for the highly informative vlog. My question is why assesses not falling under Adv Tax section are being constantly served notices ( profit of Behbood and Pension Accounts with income less than 5 mn)

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    w.salam, actually this notice received all person, even salary person, because it is system generated document, so if not applicable, just reply online, that it is not applied on us

  • @irfanamjadsheikh7764

    @irfanamjadsheikh7764

    10 ай бұрын

    7B not applicable

  • @javedaly1151
    @javedaly11515 күн бұрын

    is it also for senior citizens having income only from behbood certificates if income is more than 1.00 M from profit of the said certificate

  • @MuhammadArif-dm7ne
    @MuhammadArif-dm7ne10 ай бұрын

    AOA, Sir please provide excel sheets for quarterly advance tax calculation and final tax calculation.

  • @muhammadahmedshakeel7297
    @muhammadahmedshakeel72975 ай бұрын

    Sir need clarification on sales tax on contractors/construction conyracts? Is 50M is the the lower limit to charge sales tax? Is it a provicial subject after 18th ammendment?

  • @nabeellatif5032
    @nabeellatif50329 ай бұрын

    Jo hmara refundable prha Huwa Woh kidher jana phir ? In ko bhe abhe day day filer r refund bhe prha Huwa

  • @arifjan6558
    @arifjan65584 ай бұрын

    Sir g tax credit Kon sy lengy individual ki case man 150 151 152 154 155 section ki ly saky hy k nai

  • @faheempracticallearning

    @faheempracticallearning

    4 ай бұрын

    watch tax credit lecture, already explained

  • @jonathanking8458
    @jonathanking84582 ай бұрын

    Sir my saving account and NSC profit last year was more than 5 million, and FBR sent me advance tax 147 notice in December and March which I paid. So far no notice for June. Do I pay advance tax for june? For this year my profit on debt income will be more than 5 million. Please advise.

  • @shehzadahmad1373
    @shehzadahmad137310 ай бұрын

    Asslamolaikum I am retired person. My source of income is only BEHBOOD CERTIFICATE .Yesterday i received notice U/S 147 to pay advance income tax.please guide whether i have to pay the same or not? Thanks

  • @user-lu3wh6zx7h
    @user-lu3wh6zx7h9 ай бұрын

    As already discussed on whatsapp regarding advance tax .........kindly explian.....1- how to calculate advance tax for 2nd qtr (individual tax payer)...e.g latest tax =50000....using formula 50000/4=12500-B (tax already paid)....so in 2nd qtr ...the amount of Rs.12500 is already paid in 1st qtr ( july to sep 2023,for tax year 2024). will it be zero for 2nd qtr ? kindly explain.......regards Ali.

  • @faisalhmirajkhan2293
    @faisalhmirajkhan229310 ай бұрын

    Sir but in case of AOP/COM notice received from FBR they avoid this A*B/C-D formula and tax compute on accounting profit what is that plz explain

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    Same explained in lecture, follow this formula

  • @MMFH445
    @MMFH44510 ай бұрын

    Dear Faheem Sb, I have seen your videos. MashAllah you explain very well. I have one question and I will appreciate it if you can respond: I have received notice u/s 147 and it shows total tax liability for the year Rs.80,000 and for this quarter is Rs.20,000. However, I have paid tax Rs.33,000 (deduction at source) for this quarter. Now I will put 33,000 in adjustments or just 20,000. When I put 33,000 it does not show 13,000 excess paid it just makes tax liability zero. instead. Please guide. Many thanks

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    All 33K, because it is actual, just report this, and in this case it is refundable, and to be adjust in next qtr

  • @MMFH445

    @MMFH445

    10 ай бұрын

    @@faheempracticallearning thanks..much appreciated

  • @imranyousaf1301
    @imranyousaf130110 ай бұрын

    What will the status of WH Tax deducted by the customer during the quarter. Is this deduction will consider as advance tax or not for that respective quater calculation.

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    yes advance

  • @docmak-1256
    @docmak-1256Ай бұрын

    Ma salaried hun lekin mere stormfiber bill ma advance income tax b kata hai aur sales tax bhi. To ye kis codes ma enter hongay? Salaried ky lea advance income tax refund hojata hai?

  • @faheempracticallearning

    @faheempracticallearning

    Ай бұрын

    Better to share the evidence, with your employer and adjust the income tax againt your salary deduction

  • @creativethoughts516
    @creativethoughts51610 ай бұрын

    Good work bro, My question is Suppose, if a withholding agent miscalculate the tax of employee on income by mistake. please explain about this situation. who pay the tax difference withholding agent or employee and what is the consequences.

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    employee, who received salary

  • @creativethoughts516

    @creativethoughts516

    10 ай бұрын

    @@faheempracticallearning Is it written in the Income Tax Ordinance? If yes then tell me about it. Page no ?

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    This is understood, if employees received salary and tax less deducted, remaining need to pay

  • @creativethoughts516

    @creativethoughts516

    10 ай бұрын

    @@faheempracticallearning so employee will pay the remaining tax by itself?

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    Yes, if not deducted

  • @halflife2024
    @halflife20248 ай бұрын

    Sir, my income from profit on debt (bank savings account and NSC certificates) in 2023 was more than 5 million, so I paid under normal tax. I have received a notice under secion 147. How should I reply to the notice? Please guide

  • @faheempracticallearning

    @faheempracticallearning

    8 ай бұрын

    Make an estimate and reply if tax payable.

  • @honor6x970
    @honor6x97010 ай бұрын

    Assalamualaikum Sir ap ne kaha tha abi IT file na kren kuch din wait kren date extend ho gi. Lekin ap ne dobara is topic pr video nai banai... Kindly is baray mn video banaye return jama krayen ya wait kren aur portal pe mazeed koi masla hai ya nahi.. thanks

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    Yes, wait extension will come

  • @honor6x970

    @honor6x970

    10 ай бұрын

    @@faheempracticallearning thanks sir... Sir Ye confirm baat hai k date extend hogi?

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    Yes

  • @yasirmahmood5502
    @yasirmahmood550210 ай бұрын

    Sir, I have sold a property file ,declared as property asset in previous returns, with a Gain of 5 lakh, is this gain taxable? And where to show this gain in returns?

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    Yes taxation, pls watch capital gain lecture

  • @yasirmahmood5502

    @yasirmahmood5502

    10 ай бұрын

    @@faheempracticallearning thanks sir

  • @sohailsattani
    @sohailsattani9 ай бұрын

    How doctors can respond this query. He has 25% salaried income and 75% service income u/s 153 1 (b).

  • @brandrethroadlahore2601
    @brandrethroadlahore26013 ай бұрын

    Dear sir how to become active tax payer list not filed sales tax more than six months

  • @faheempracticallearning

    @faheempracticallearning

    3 ай бұрын

    File all returns, within 24 hours your status will be active

  • @miansaeed2001
    @miansaeed200124 күн бұрын

    Sir advance tax 147 jama krwa dya tha Ab annual return ma kaisy adjust krain ??

  • @faheempracticallearning

    @faheempracticallearning

    24 күн бұрын

    in annual tax return, go to payment tab and press search, relevant CPR will be appeared

  • @miansaeed2001

    @miansaeed2001

    24 күн бұрын

    @@faheempracticallearning CPR available hai r adjust kaisy krna h

  • @sameemahmed2104
    @sameemahmed21042 ай бұрын

    اگر مجھے بطور پر چیزر کسی سپلائر کو ایڈوانس پے منٹ کرنی ہو تو ایڈوانس دیتے ہوئے کون کون سے ٹیکسز چارج کرنے ہونگے؟ وڈ ہولڈ کرینگے یا نہیں؟

  • @sikandarraza7806
    @sikandarraza780610 ай бұрын

    Sir Kayya 236 C Or 236 K Ko Next Year Jis Mayn Property Purchase Ke Ha Ya Sale Ke Ha Os Ko 2nd Year Ya 3rd Year Mayn Adjist Kayya Ja Saktha Ha Plz As Par Agar Koi Video Ha To Plz Woh Send Kar Dayn

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    report in refundable tax, thn you can claim

  • @sikandarraza7806

    @sikandarraza7806

    10 ай бұрын

    @@faheempracticallearning Sir Agar Os Ko Pahley Saal Mayn Report He Nhi Kayya Patta He Nhi Taha Kay Ya Adjist Hota Ha To Os Par Next Ya 3rd Year Mayn Clim Kayya Ja Saktha Ha Ya Sawal Ha

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    @@sikandarraza7806 thn not claimable

  • @sikandarraza7806

    @sikandarraza7806

    10 ай бұрын

    @faheempracticallearning OR AGAR OS KO RETURN MAYN DALL DAYYA OR WOH REFUND BAN JAYE TO JAB TO CLAM HO JAYE GA YA NHI HO GA NEXT YEAR MAYN

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    @@sikandarraza7806 yes

  • @raziuddin4516
    @raziuddin45163 ай бұрын

    Faheem Bahi a vehicle of 3 million is purchased for business,can its input be claimed?

  • @faheempracticallearning

    @faheempracticallearning

    3 ай бұрын

    What is the nature of business (

  • @raziuddin4516

    @raziuddin4516

    3 ай бұрын

    Manufacturing

  • @humairaimran77
    @humairaimran77Ай бұрын

    Ye tax un Jahan governments logon ko facilitate kerti hy. Yahan TU awam ko Sirf lota jata hy. Gareeb awam ko mushkil mei Dala Howa hy.

  • @faheempracticallearning

    @faheempracticallearning

    Ай бұрын

    😄

  • @malikamtullah6536
    @malikamtullah653610 ай бұрын

    AoA sir Tax Rate is 1.5% or 1,25% ????

  • @faheempracticallearning

    @faheempracticallearning

    10 ай бұрын

    W.salam 1.25%

  • @waseemahmad5992
    @waseemahmad599226 күн бұрын

    امپورٹر ايڈوانس ٹيکس کيسے ادا کرے گا اور کيسے ايڈجسٹ کرے گا

  • @faheempracticallearning

    @faheempracticallearning

    24 күн бұрын

    prepare profit and loss and apply tax rate, (-) tax paid at import stage and remaining need to pay

  • @FaizanKhan-ct2tc
    @FaizanKhan-ct2tc10 ай бұрын

    Sir loss wala clear nhi howa concept, please thora examples se samjae ge?

  • @arifjan6558
    @arifjan65584 ай бұрын

    Sir g tax credit Kon sy lengy individual ki case man 150 151 152 154 155 section ki ly saky hy k nai

  • @faheempracticallearning

    @faheempracticallearning

    4 ай бұрын

    watch tax credit lecture, already explained

  • @arifjan6558
    @arifjan65584 ай бұрын

    Sir g tax credit Kon sy lengy individual ki case man 150 151 152 154 155 section ki ly saky hy k nai

  • @faheempracticallearning

    @faheempracticallearning

    4 ай бұрын

    watch tax credit lecture, already explained

  • @arifjan6558
    @arifjan65584 ай бұрын

    Sir g tax credit Kon sy lengy individual ki case man 150 151 152 154 155 section ki ly saky hy k nai

  • @faheempracticallearning

    @faheempracticallearning

    4 ай бұрын

    watch tax credit lecture, already explained

  • @arifjan6558
    @arifjan65584 ай бұрын

    Sir g tax credit Kon sy lengy individual ki case man 150 151 152 154 155 section ki ly saky hy k nai

  • @faheempracticallearning

    @faheempracticallearning

    4 ай бұрын

    watch tax credit lecture, already explained

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