Final Tax Regime Basic Concept | Final Tax Business | Income Tax |

• SALE TAX AND INCOME TA...
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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

[@mianmehmoodulhaq3518]

Excellent sir salute you

[@faheempracticallearning]

Jazak Allah

[@hassanbhalla5366]

Masha Allah you are very intelligent

[@faheempracticallearning]

Jazak Allah

[@briefcase7119]

Sir importer ka simple wohi case he jis ki ap ne example di video ma, to phr importer final tax regime ma kiu nhi he? Importer at the time of import tax de deta he

[@qazifahad7744]

Same question for me also

[@faheempracticallearning]

Previous importer was in Final tax ,now in minimum, because sale tax charged at the time of import was less, as compared with actual sale after import, on the basis of data available FBR changed this rules.

[@kharedosubkuch6313]

Faheem Bhai. Will you please confirm as followings. 1- we are IT exporter business FTR ma business fall karta hai lakin hamain under rule 144 ka notice aya hai. 2- FTR business ma fall karnay ka matlab yeh to nhe na k Jo payments humnay ki hai in per section 153 applicable nhe . Agr applicable hai phr to WHT as per rules Karni hai ?

[@faheempracticallearning]

FTR apply on your income, means turnover , but all others provision of rules still applicable, for example when pay salaries deduct income tax, same like when pay rent and payments to vendors need to deduct tax as per rules 155 and 153, this means FTR only liked with your annual income tax liability

[@butterflycompanybagsandsta189]

Sir, kindly guide us about wht that is now minimum tax and turn over on fmcg distributors and its procedure in incometax return.

[@faheempracticallearning]

@@butterflycompanybagsandsta189 already have lecture on this topic

[@ambreenaamir6337]

Goods supplier his tax deducted at source then how can he file return. Pls send any video if u have made or link. Thanks

[@malikramzanali1492]

Sir my querry is that if we declare it as final than while preparing wealth statement inflow under final should be some amount than how can we reconsile this

[@saleemshaukat1500]

Aoa sir , agr kuch income 10% as services mili ho, ayr sath salary income b ho tab b hum dono income seprate charge kre ge ya normal tax me, bad is me accounts mangta ha iris us condiion me kia krna chhaiye?

[@zulfiqarali2130]

Sir how to calculate of income for wealth statement of 156a if w.tax deduction is Rs. 983297 ?

[@faheempracticallearning]

Petroleum products it is final tax, ask your company to issue purchase certificates on that basis file return, under final tax regime

[@tauqeertoor82]

AOA. very nice video sir. I have a question. A petrol pump have multiple partners (registered as AOP) OMC deduct AOP's tax. while declaring income of each individual partner, will they declare their AOP dividend income under final tax and do not have to pay any further tax on this share. most of partners have other source of income as well. so will this Petrol pump income not clubbed in their taable income? pleas eguide .

[@jahangiransari5975]

Sir contractors k pass total amount aata he contract ka jisme cost of sale or income bhi hoti he to unke accounts kaise bnaenge taake wo income unke return me declare kr saken

[@kashifaziz516]

Faheem Sir Quaterly return open nahi horaha kese open hoga kindly bata dain

[@faheempracticallearning]

Which issue? Or error?

[@kashifaziz516]

@@faheempracticallearning please select relevant tax period based on profile (Quaterly filer or not)

[@faheempracticallearning]

@@kashifaziz516 check lecture of withholding statement

[@AbdulSattar-hc8gm]

Section 153 1 c??

[@muhammadnoman2993]

Section 153 kia final tax regime ma nahi?

[@faheempracticallearning]

No

[@muhammadnoman2993]

Section 153(1)(b) 3% of transportation services. According to my knowledge this is final tax

[@faheempracticallearning]

@@muhammadnoman2993 minimum dear check lecture already explained, the section of that was fall in final, 153 not included,

[@rashiddar6655]

Sir AOa, W have claimed sales tax refund for the month of 02,2022 at Arsenal.210000/-. The refund detail is as under. Material consumption 200000/- Services. 10000/- Total. 210000/- But email received which the detail is as under Amount sanctioned. 1/- Deferred. 10000/- Carry forward. 0/- From the above situation clearly indicates that no reason has been mentioned to reject the remaining amount of sales tax refund. In this connection, we have submitted email to fbr but no response has been made. Plz give me your opinion on this issue. Your early response will be highly appreciated. Rashid Dar

[@faheempracticallearning]

What is your principle business activities

[@rashiddar6655]

Manufacturer Exporter & Importer of sports goods

[@faheempracticallearning]

@@rashiddar6655 make proper reconciliation month wise, you need to prove it is actual input that need to refund, visit local tax office, disclose with them.

[@rashiddar6655]

We have submitted annexure-h with regard to consumption which is also match with sales tax return refund claimed

[@faheempracticallearning]

@@rashiddar6655 services input not claimable, visit local office, for reasons