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

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

[@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

[@abdulmajeedqamar2826]

Very good information

[@faheempracticallearning]

👍

[@dtmalik]

Good

[@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.

[@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?

[@GodZeus-e4w]

Sir my father's income comes from behbood saving certificate and it exceeds 1 Millon. and fbr has send notice of advance tax under section 147, where as my father has not any business so now i want to know that what should i do? what reply i should give to fbr? kindly tell me sir.

[@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

[@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

[@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

[@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

[@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%

[@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.

[@AliSarkaar-n1e]

Pension ac k profit per tax ada kana hy ya nhn

[@faheempracticallearning]

Yes need to pay

[@AliSarkaar-n1e]

@faheempracticallearning thanks app ka office kahan hy

[@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%

[@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?

[@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

[@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

[@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?

[@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

[@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

[@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

[@sheralichauncey1967]

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

[@qaaadyala7702]

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

[@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

[@Fshah1]

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

[@faheempracticallearning]

Now 5% maximum

[@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?

[@atiqrahmanlodhi4709]

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

[@faheempracticallearning]

Yes in cash and bank

[@sarfrazkhan7526]

Sir kiya pensioner benefit account per profit 10 lac aa reha hea tu kiya iss per bi 5 percent tax dena hoo ga plz inform

[@faheempracticallearning]

Not 5% it is 15% for filer

[@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😮

[@HinaWala]

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

[@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.

[@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?

[@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

[@MuhammadAbdullah-g2v5g]

Senior citizenship k liye status ?

[@faheempracticallearning]

Same

[@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

[@checking6663]

Please share legal reference?

[@faheempracticallearning]

Read last year Finance act

[@arifatalat844]

Ager profit1656000 ho tu kitna tax kte ga

[@omarkhan7765]

Filer ke total amount of profit pe 15% deduction hogi aur Non filer ke 35%.deduction hogi.

[@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 ؟؟؟؟

[@saadatrizvi6841]

Sir aoa ager panssioner account say b profit ho or bahbood Ka Mila Ker 6 lac say ziada ho 5 preset Dana ho ga ya kaisay Mary Dino account hain siraf Ka 6 say ooper ya Dino Mila pl detail say bats dain Thank you

[@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