Good News | How much Income Tax on Behbood Saving Certificates | Tax Year 2023 | FBR |

[@YasirKhan-ez6qo]

When it club with other heads of income then 5% tax chargeable is not being executed in iris

[@TanveerAhmad-xg5lk]

Wonderful. Very well explained. You have cleared all doubts.

[@faheempracticallearning]

👍

[@mrhuman4570]

​@@faheempracticallearning5% is the max tax bayshak jitna bhi profit ho?

[@javaidiqbal2264]

Aa, with reference to FY 2023-24 , rates of deduction of income tax on Behbood profit has been changed. Will you please review this topic accordingly . JazakALLAH

[@aitzazshah7281]

AoA, Wo senior citizens jinki koi property nahi, koi source of income nahi, sirf behbood savings certificate hain or monthly profit bhi 50,000 se kum hy, kya unko bhi filer hona chahye?

[@ShanAli-cf7wf]

AOA sir and sir Kiya easy paisa transection be show karna Lazmi Hai return Mai and Kiya iski information be MIS par show hoti Hai

[@abdulmajeedqamar2826]

Very good information

[@faheempracticallearning]

👍

[@alammahmood1778]

Sir, when you have other sources of income as well then this 5% tax rate apply does not apply, although FBR said it is 5% or 10%. Last year i have a case where this rate was around 19%. even 4% more than the fix rate on Bank Profits. can you pls. have video with 2M profit from Behbood and 2M income from Salary or property.

[@Fshah1]

Simply formula is = 50% (10 % of behbood profit)

[@faheempracticallearning]

Now 5% maximum

[@umairalisoomro]

Number of tax Lawyers are talking about behbood certificates and defence certificates, but there is no or little information is available on Regular Income Certificates (RIC). Also their is no column specified for RIC in Tax Return portal.

[@syedliaquat-nn6jc]

ایک سوال اور جواب طلب ھے پچھلے سال جولاٸی میں وفاقی محتسب ٹیکس میں ایڈوکیٹ وحید شہزاد نے PBA . BSC پر IRIS پر غلط کیلکولیشن کا کیس کیا تھا جسے FBR نے تسلیم کیا اور کلاٸنٹ سے معافی مانگی ۔ زاٸید ٹیکس واپس بھی کیا گیا ۔ ۔ سوال یہ ھے کہ وہ فالٹ درست ھوچکا ھے FBR IRIs پر یا ابھی تک wrong calculation چل رھی ھے ؟؟؟؟

[@muhammadwaqas9787]

Sir agar Bahbood certificates aur regular certificates mila kar profit 5 miillion se ziada ho tu....bahbood ke entry separate karoun aur regular income certficates ki separate karoun??? is se mera tax slab 5 million se neeche rehe ga...plz reply

[@khubaib333]

سر ایک سوال پوچھنا تھا گزارش ہیکہ پنجاب میں زرعی انکم ٹیکس جمع کروانے کا طریقہ کیا ہے؟ کہ فارم 32 اے میں کونسا ہیڈ اور کونسا اکاونٹ نمبر لکھنا ہے ؟راہنمائی فرما دیں، شکریہ

[@syedliaquat-nn6jc]

Appreciated removed confusion i.e what would be rate of income tax beyond 6 lacs . . 5%

[@faheempracticallearning]

5%

[@Fshah1]

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

[@tahirchaudhry2447]

Thanks but still needs clarification, if other incomes are clubbed with Behbood then what % ? Secondly new or even old Iris Fbr website is NOT opening from overseas (USA) again as it was last year. Advise please.

[@jmkhan15]

Dear I watched your video on Bhehbood income. You have only highlighted the income of bhehbood yields. If I have bhehbood income n any other income like property income, here in IRIS system charges tax on bhehbood income more than 5% pl prepare the video with other income, Pl let me clarified. Thanks

[@GambitCoach]

Yes it calculates more but payable is less as it gives rebate on tax however serves a notice of 147 advance tax in which tax is calculated at 7%

[@waqas186]

what about savving account or term deposite certificate they deduct 15% did we still need to pay more tax after deducation of 15% from bank

[@faheempracticallearning]

No, just file same

[@eagtengamer]

Sir Saving certificate k profit par 30% tax kata hai ise kese treat karain gai Kia extra amount refundable hai?

[@faheempracticallearning]

@@eagtengamer no

[@Sami-pr7yp]

Assalam o aliakum! Sir if a person is a manager accounts in university and same time in same university have a teaching faculty contract, should he may be claim as a full time teacher or not?

[@qaaadyala7702]

IS THIS ALSO APPLIED ON PENSIONERS BENEFIT ACCOUNT? PLEASE ANSWER. GOD BLESS U

[@zainabsuleman2707]

I have heard that income tax on Behbood Saving Certificates of 5% is applicable w.e.f. 1st July, 2023, as such not applicable on the return for July 1, 2022 to 30th June 2023. Your guidance please

[@Gamerbuoypk]

Great info but there is one big issue in all this. One pensioner that I know was of view till today that behood profit is not taxable so have never filed return as there was no other tax liability. Even staff of NSC told that person that this amount is not taxable. Through this video that person got to know that behbood profit is taxable. Now what to do. That person is willing to file return and pay tax for 23-24 but that person is worried what if FBR open his record for last 6 years and ask for tax on behbood profit for all 6 years. What if is he is penalized. It would become too much. What should he do?

[@MaqsoodAhmed-o6r]

I have income from salary as well as get profit of 390000 on bahbood , now iris is also calculating tax on bahbood profit . Is it correct

[@anwarulhaq9285]

the difference between EXEMPTIONS AND TAX CONCESSIONS u/s 41 to 55 and EXEMPTIONS AND TAX CONCESSIONS in the second schedule please explain?

[@faheempracticallearning]

I think already have lecture check channel

[@sheralichauncey1967]

اگر بہبود اور پینشن بینیفٹ کے علاؤہ محکمانہ پہنشن کا بھی ذریعہ آمدن ھے تو کیا اس وقت بھی یہی فارمولہ لگے گا

[@ateeqahmedkhan6041]

I tried as you explained for Behbood amount on this year return but on amount of Rs. 1052640 the system gives a figure of Rs.52000 approximately and gives figure for reduction of Rs.226000.can you explain whats wrong or this year it has been changed Regards

[@nasirahmad7691]

Dear fahim sb If we receive Rs 2000000/ profit on PBA and BSC annually, admitable tax should be Rs 70000/ instead of 100000/ after exemption of tax on Rs. 600000/. Please guide. Thanks a lot.

[@Zero-D-Dragon]

hi, I am little confused if we deduct 6 lac frm 20 lac then we should pay 70,000 i.e is 5% of 14 lac. Plz clerify.

[@taxationfescon]

Behbood saving ki income normal income ya final please advise

[@AamirAli-kw4ol]

Same confusion as pointed out by others. Is behbood a final tax? If its not, and part of normal income, then how come it is shown in video as at final tax rate of 5%. My understanding is that behbood income is to be clubbed with other normal income and slab rates be applied accordingly for calculating tax liability. thanks

[@faheempracticallearning]

It is not final tax rate is fix

[@adnanrasool1913]

Agr profit on behbood 1.5 M and other income 0.5M hai to 1.5 py os py 5% e calculate horha.. but next 0.5 M py higher ate lg ra 20% wla😮

[@atiqrahmanlodhi4709]

behbood ki entry wealth statement mn b hota hy kia??????????????

[@faheempracticallearning]

Yes in cash and bank

[@daniyalabbas5803]

SIR MERA UNCLE NA 2013 MA LI YA THA BEHBOOD CERTICATE , WOH ISS FILER HONA CHATA HAN KIA . BEHBOOD KA TAX JULY 22 TO JUNE 23 TAK KA PROFIT HOGA . INO KO KIS NA BOL HA 2013 KA PROFIT SA 2023 PROFIT EK RETURN TY 23 MA JAMA HO GAI. KINDLY SIR REPLY

[@HinaWala]

Why total 2 million PKR is subject to 5 percent, whereas 1.4 million should be taxed (20minus6). Kindly explain

[@MuhammadAbdullah-g2v5g]

Senior citizenship k liye status ?

[@faheempracticallearning]

Same

[@hamiyatyab2503]

Sir behbood certificate k profit 866000 tha but system na 600000 sy oper amount 266000 k 5% ni calculate kia. System na upto 800000 tak 5%(10000) calculate kia hy and higher amount k 12.5%(8250) calculate kia hy.total as per your statement13300 hona chahiay bit its (10000+8250= 18250). Please confirm this is it correct or not.

[@faheempracticallearning]

You have any other income?

[@syedmuhammadalibukhari5425]

Aoa, 1. Is income-tax is on pension, if yes, then how much. 2. If a person has two different bahood certificates i.e Single & joint, and monthy profit is Rs. 41400/- & 55200- then how much is income-tax. Thanks

[@Fshah1]

Due tax = 50%( 10% (12 x (41,400+55,200) = 50% (10% (1,159,200) = 50% (115,920) = Rs 57,960

[@sajjadjamil7594]

On Behbood certificate FBR gives notice to submit advance tax, is it applicable to deposit advance tax against behbood certificate?

[@GambitCoach]

I am searching for the relevant information in the advance tax regards too which is applied on Behbood certificate yield, more the fbr notice serves advance tax at the rate of 7%

[@mrhuman4570]

5% is the max tax bayshak jitna bhi profit ho?

[@arifatalat844]

Ager profit1656000 ho tu kitna tax kte ga

[@checking6663]

Please share legal reference?

[@faheempracticallearning]

Read last year Finance act

[@najmaahsan9104]

Please mention notification of fbr 2023

[@azzhasn8183]

The tax payable under clause (c) of sub-section (1) of section 39, in respect of any amount paid as yield or profit on investment in Bahbood Savings Certificate or Pensioners Benefit Account 8 [and Shuhada Family Welfare Account] shall not exceed 9 [5%] of such profit

[@azzhasn8183]

second schedule part iii clause 6 of income tax ordinance 2001

[@FarooqMuhammad-nv8un]

Where we mention profit on saving account in tax return 2023 ?

[@faheempracticallearning]

final/ minimum option, 151

[@FarooqMuhammad-nv8un]

@faheempracticallearning sir, please share some video lecture on it if possible

[@FarooqMuhammad-nv8un]

​@faheempracticallearning, and what about 7B ?

[@faheempracticallearning]

@@FarooqMuhammad-nv8un check revision lecture

[@FarooqMuhammad-nv8un]

@@faheempracticallearning what is 7B