v informative video thanks

Well briefed!

Good information thanks

Thanks Sir aaj concept clear huwa hy

@faheempracticallearning

Жыл бұрын

;)

Dear Sir, Please guide about tax calculation on joint Pension benefit account /Behbood Savings Certificate.

@faheempracticallearning

4 ай бұрын

Same process, just put pension in salary tab exempt

Excellent sir.

@faheempracticallearning

Жыл бұрын

Jazak Allah

Very well explain

@faheempracticallearning

Жыл бұрын

Keep watching

Nice explanation sir. Kindly make a detailed video on taxation of IT and IT enabled exported services for FY 2022 & 2023 and make a comparison of FY 2022 & FY 2023,

@faheempracticallearning

Жыл бұрын

Sure in future,

Sir, you are providing very informative information not only for Accounts & Finance People but for General Public as well. Thanks The issue i am facing for Behboob Certificate is that system is automatically calculating it to normal tax and charging normal tax rate on it and not allowing the tax reduction accordingly to keep the tax rate of maximum 10% profit on Behboob certificate. in my case normal income tax rate is 25% due to Salary income and Tax on Profit from Behboob is also calculated at 25% and reduction allow is only 8.2% so in reality we have to pay around 16.8% tax on profit of Behboob certificate while it should only be 10% as per your video.

@faheempracticallearning

Жыл бұрын

Yes if other source, thn system apply on all,

@alammahmood1778

Жыл бұрын

@@faheempracticallearning So sir the Tax Rate is not fix @10% it depends upon your total Normal Income and if the rate on normal income is 25% the rate of tax on Behboob certificate profit will also be 25%. more than the Fix 15% rate on the Banks Profit

@faheempracticallearning

Жыл бұрын

@@alammahmood1778 only fixed if behbood income only, check lecture again

@alammahmood1778

Жыл бұрын

@@faheempracticallearning Thanks - Sir

Thanks so much sir

@faheempracticallearning

Жыл бұрын

Most welcome

Thanks Sir for this nice information. I was having a plot this year I sold that plot and purchased a house for the same price of plot, no profit earned. How can I show this transaction in my returns . Please explain. Thanks a lot.

Please make a video on taxability of income of National Saving Center scheme such as mahana Income Certificate Income 1) Whether Income on National Saving Center Schemes/ Certificates such as Regular Income Certificates/Defence Savings Certificates and Post office schemes fall under section151/7b or Income from other sources (U/s 39) of IT ordinance 2001. 2) If the Income on National Saving Center Schemes/ Certificates such as Regular Income Certificates/Defence Savings Certificates and Post office schemes exceeds Rs 5 millionm, tax calculation is based on final taxation or normal tax regime. 3) Reflection of Income/Tax Deduction in Return.

@faheempracticallearning

Жыл бұрын

Yes sure, in future

Regular income certificate profit pr 15% withholding at source national saving deduct kr leta hy, ab return main jo profit received hy wo dekhana hy ya total ,ager total dekhana hy tu kahan pr final fix main 7B main ya kaheen aur

I would like to what kind of documents required for filing tax return. What is PRC and how to get it

Bhai As Par 2022 Say 23 Mayn 6 Lac Say Opar Par Tax Ha Na

Salam. Sir I just want to precisely know whether while filing return the entire amount of profit is to be shown or it should be after subtracting the exemption of 600000?

@faheempracticallearning

6 күн бұрын

Total amount

Sir Kya return me behbood certificates regd nos and NSC branches name mention Karna zaroori hay ya sirf total value of certificates mention kar de? Please guide me

Or Abhi Business Man Par 2022 Say 23 Mayn 4 Lac Say Oapr Par Tax Ha Ya 6 Lac Say Opar Par

Aoa sir, agar koi bi filer ban raho toh is aur behbood certificate maturity pa ho. Toh all year ka profit pa tax dayna. Ya iss year profit. Let assume 2013 ma liya tha ab woh person filer ho na chai toh. 2013 sa laker 2023 tak profit pa tax day ga. 2023 wala per.

bebood kin entery wealth statement mn b entery ho gi??????????????

very good....acha agar behbood ka sath aur income bhi ho like rental income ..to phir kia tab hi cap 10% rahay ga

@faheempracticallearning

Жыл бұрын

Today i will explain in lecture

Is advance tax mandatory for an old person earning only from bahbood and pension beneficiary account? Assuming his annual profit from bahbood and PBA is above 1 million but he has no other income.

@mak7ali

Жыл бұрын

Surely this isn't a business..... but fbr charges it any way...

Good information. It means National savings is mis-guiding by saying no tax on behbood certificate.

@faheempracticallearning

11 ай бұрын

Yes, same explained in lecture

sir tax credits ya reduction ma shayad ma bahbood ka column bhi hai per wo inactive hai all columns. us ka use batayn kindly sir. plus your services are commendable

@faheempracticallearning

Жыл бұрын

Now system auto calculate, check lecture already explained this

Can one split the tax burden for a jointly held BSC? For example total profit 7lac. Two filings for 3.5lac each. Thanks in advance and nicely explained video.

@faheempracticallearning

9 ай бұрын

Yes, only if profit directly credit in both accounts, otherwise not

If you are non filer and don't file return than you got away with the deduction in tax.Its only if you file your tax return and show income from Behbod you are subjected to tax

@muhammadbilalsikandar144

7 ай бұрын

Don't be filer

AOA, I understand that, it is necessary to entered income from bank profits in sections ‘’Income Attributable to Receipts, etc. Declared as per Return for the year subject to Final / Fixed Tax (7033)’’ in section ‘’Reconciliations of net assets’’ (Wealth statement). Please advice, is it necessary to enter profit received from Behbood certificate and property rental income in this section as well. Thanks

@faheempracticallearning

9 ай бұрын

Yes both are also part of income as well.

@Fshah1

9 ай бұрын

Thank you for your reply. But I understand that only income in which tax already has been deducted need to enter in section 7033. All other income in which tax has not been deducted need to enter in section 7031 known as income declare as a normal tax

@faheempracticallearning

9 ай бұрын

@@Fshah1 pls watch this lecture, already explained this, 2nd also watch lecture of rental income. Carefully

Salaam, I got confusion due to large un-reconciled amount. As per my understanding un-reconciled amount need to put in inflow (gift, others etc) if it is positive and put the same figure in outflow (expenses and others etc) if it is in negative. My Unreconciled Amount is Rs 5,198,966.00. it became zero when I have put the same figure in inflow. But in this way my assets has increased with same amount but I do not have that much assets. This is a large amount. So I am worried about this. Please advise me if it will okey. My income (Inflow) is only based on rental income and profit from Bank. My outgiing (Outflow) is normaly zero. Secondly, From bank profit , they are already detecting 15% WHT on gross profit. Net profit income = gross profit - 15% WHT. So which amount should enter in Section (7033) ‘’Income Attributable to Receipts, etc. Declared as per Return for the year subject to Final / Fixed Tax. Net profit or Gross income? Thanks

@faheempracticallearning

8 ай бұрын

watch lecture, how to file annual income tax return, it must be zero, in real term, not to put where deemed fit

Good morning. Now the profit earned on Behbood s certificates is being deposited in saving accounts of purchasers and tax is being recovered through saving accounts.Eventhen the holder is to pay income tax through return filing. What is the case for non residents.

@Fshah1

8 ай бұрын

Yes. Profit is paid directly into saving accounts now but without detecting WHT. You need to entered values of net profit on Behbood section. Tax will automatically detected as per Behbood tax band. Non resident also required to pay WHT as per Behbood tax band.

I hv one question. Myself and wife have joint ownership of behbood certificate. We also file return seperately. So if we get rs. 5 lacs profit . Can we declare half . half amount I e. 2.5 lacs in each return.?

@ameerKhan-yh8jc

10 ай бұрын

Pls guide..Thanks

Sir agr rental income bhi hai tou kiya bahbood par 10% hi lagay ga Please guide bcz mera tax 10% sy zada bata raha hai

@faheempracticallearning

Жыл бұрын

No, today i will explain in lecture

Behbood certificates are different from other certificates as they are issued to senior citizens only over 60 years of age. Thats why as a welfare measure they had been exempted from witholding tax and zakat.

@faheempracticallearning

10 ай бұрын

But it is taxable, as per law, pls watch lecture

Last year 10% Sy kam karky 5% Kar dia that.

What is the meaning of Advance Tax and notification 147.. ??? Please let me know

@faheempracticallearning

Жыл бұрын

Check latest lecture

@johnroy48

Жыл бұрын

Thanks for the information

Agar exempt nahi hai TU deduct kyun nhi kia jata, Rahi yeh baat k khud hama karwayen, TU phir baqi certificates pe bhi deduct na Karen wo bhi khud jams karwa den ge.

@faheempracticallearning

Жыл бұрын

This is law, we need to follow

@zayadmn

Жыл бұрын

Not justified.

@faheempracticallearning

Жыл бұрын

@@zayadmn yes agreed

@hitchhiker3023

10 ай бұрын

Not authenticated information. Seem to be illogical and faulty reply from youtuber

Bahood ma investment not more than 50 lac. So prifit cannot 40 lac

@faheempracticallearning

Жыл бұрын

Yes, this is just example dear

Sir ji kya aap tax return ka kam karte hain agar han to aapko kaise contact kiya jaye kiya jaye

@faheempracticallearning

Жыл бұрын

0300-7574731