Inheritance & Gift Taxation in Pakistan, How to Save Tax on

[@bilalking6695]

A lot of thanks ❤️

[@ShakeelAhmad-mq9do]

Sir you given wonderful explaination while giving interpretation of law and practice. Excellent

[@aamirrasheedrashidfcataxan1886]

@@ShakeelAhmad-mq9do I'm humble, you found it helpful

[@aamirrasheedrashidfcataxan1886]

Did you watch it till end. We worked hard on every second of it

[@NaveedKhan-e4y9q]

Thank you sir for so much informative video.

[@aamirrasheedrashidfcataxan1886]

@@NaveedKhan-e4y9q g

[@Adnanbhatti788]

Mashallah..impatiently waiting for this topic

[@aamirrasheedrashidfcataxan1886]

@@Adnanbhatti788 thanks

[@aamirrasheedrashidfcataxan1886]

@@Adnanbhatti788 would be lovely to see your feedback

[@tahirrasheed9647]

Very useful information 👍

[@aamirrasheedrashidfcataxan1886]

@@tahirrasheed9647 thanks

[@asifgillani2750]

Wonderful explanation❤

[@aamirrasheedrashidfcataxan1886]

thanks dear

[@Mr180Shorts]

Great work sir

[@aamirrasheedrashidfcataxan1886]

So nice of you

[@ExperTax-q7w]

Sir , could you please share those both circulars of 2015 and 2017 ?

[@adilzaidi965]

How tax is calculated on "Profit on Debt"? Particularly profit on Tbills and Govt. Securities, Investment bonds.

[@Adnanbhatti788]

thanks a lot sir,,

[@aamirrasheedrashidfcataxan1886]

this is for specially

[@Thatdoty]

Aoa sir Meri shadi hue thi Feb 24 mei. meri education complete nai ha abi chal rhi ha. To mere father ne mje 7 lac die the but cash mei. Like cash niklwa ke apne account se mere current account mei deposit kra dia tha. Meine april mei apna savings account khulwaya r wo capital current se savings mei transfer kr dia. Ab meine ntn lena. R file krna return july 25 mei for fiscal year 24-25. To ye paise mei assets last year mei show kr skti? Abi mei earning nai hu,meri koi income nai siwai ye jo profit ata 3-4k.

[@Nouman_suri]

Sir inherited property amounting to 0 tranferred to brother as gift what would be entry and what amount i will show in brother return

[@aamirrasheedrashidfcataxan1886]

@@Nouman_suri fair market value

[@alibaloch4734]

@@aamirrasheedrashidfcataxan1886fmv currently?

[@syedzeeshanahmed4023]

Salam. Please guide on profit received from roshan digital account.

[@aamirrasheedrashidfcataxan1886]

@@syedzeeshanahmed4023 other source Tab. profile on debt.

[@javediqbaldhudra7084]

Gift ya inheritance agr 10- 15 sal pehly ka Hy aur Banda gift deny aur leny wala uss waqt nah filer thy. Aur agr ajki date maen 1st return file Kar rha ho Tu phir aesy gift KO reconciliation page py as gift declare krega ya previous years asset Ma count Hoga. Thank you so much in advance advance

[@aamirrasheedrashidfcataxan1886]

@@javediqbaldhudra7084 previous years asset

[@infotainment.25]

Sir cash inheritance kese proof karay....as inherited amount cash ma ha jo bacho ko mila or banda non filer tha...proof kese karay wealth statement?

[@infotainment.25]

I have file nill return last year and this year i got cash inheritance....so should i revise my last year wealth statement or declare amount inheritance this year ????

[@aamirrasheedrashidfcataxan1886]

Not possible. only if you can proof your inheritance in cash

[@aamirrasheedrashidfcataxan1886]

revise

[@infotainment.25]

Thank you sir....

[@infotainment.25]

Sir is it necessary to declare minor saving account for a guardian in her ITR ???

[@MysteryMovies]

mey ney ap ki video pori dehki hey lakin smj ni aea rehi , Mey ney apni mama keo 76 lahk deye teay aj sy 1 saal phly jin sy wo saving account mey profit lay rehi hany.Ager mey onhany filer kerno tu koi issue tu ni heo ga .mey ney payment cheque kayz zareye transfer ki tei on kay account mey . mey fielr ni heno Matlab kay koi issue ni heo ga ager hum gift mey show kerny amount jeo cheque sy transfer ki hey. Mey ney suna hey deny wala b filer hona cheye but kuch kehty zarori ni mey canfuse heno please guide ker dany .

[@aamirrasheedrashidfcataxan1886]

She must in 30% WHT bracket, it's a loss. Do her ITR filing immediately. She's has lawful gift and must declare that income and tax thereon. After filing her POD tax rate shall be 15%

[@MysteryMovies]

@@aamirrasheedrashidfcataxan1886 ​ @faheempracticallearning bhi, Mey ney suna hey payment gift deny wala b filer hona cheye but kuch expert kehty zarori ni mey canfuse heno . mey filer ni heno koi issue tu ni heo ga payment mey ney cheqe sy transfer ki hey . please guide ker dany

[@AsadDairyFarms]

@@aamirrasheedrashidfcataxan1886 Lekin ye gift ke aik condition meet nahi kar rahe.. Gift dene wala NTN holder nahi hai

[@sheikgg.7867]

Sir plz guide We inherited a commercial prpperty whose value was not previously declared so can we report the acquision cost at FMV in fbr return

[@aamirrasheedrashidfcataxan1886]

yes

[@youtv9015]

a property purchased on name of minor child and declared in father return but when sold paid advance tax on minor child how father can do tax treatment in his return

[@aamirrasheedrashidfcataxan1886]

adjustable

[@danishaali4359]

Assalamo Alekum, sir 2022 December mein mery father NY 1 plot mery name kia tha, jis ki gift deed mery pas hai aur mein filer hon, but mery father ka ntn. Nhi bana hoa tha ,but unhon NY mery name plot kardia aur gift deed bhi sign kardi thi, is k 3 maheny bad march 2023 mein mery father ka intiqal ho gaya. Mery pas sirf gift deed hai , is per kia mamla hoga , kia FBR is ko gift consider kary ga?? Pls guide me

[@aamirrasheedrashidfcataxan1886]

gift deed will be sufficient, need not to worry anymore

[@ADVOCATE_USAMA_SHAFIQUE]

SIR FOREIGN SOURCE SALARY INCOME KO B ELABORATE KR DEN

[@aamirrasheedrashidfcataxan1886]

g

[@AreebaAkhtar-b3e]

Assalam-o-Aliakum sir mari mother or aunt ko un ka father ki taraf sa almost 3 crore ki property ka gift mila ha jis ma un ka half half shares han magar wo hum na sale nahi ki or us pa koi gain hasil nahi howa tu agar hum usa mari mother ka fbr returns ma show karta han tu us par koi tax dana para ga or aunt ko bhi fbr fillar bana para ga agar wo fillar nahi bana chahatin tu koi problem tu nahi ho gy please guide me I'm very thankful to you in advance

[@aamirrasheedrashidfcataxan1886]

@@AreebaAkhtar-b3e no tax. but you should file ITRs

[@EijazShah-f6o]

Sir apki koi viedo property ki transfer ka oprr ha???

[@aamirrasheedrashidfcataxan1886]

@@EijazShah-f6o yes. please visit my channel

[@aamirrasheedrashidfcataxan1886]

kzbin.info/www/bejne/mIa1hHRrm92Wnassi=0joYrJq8_Xk2mNpG

[@EijazShah-f6o]

Wah sir g...Allah apko khush rakhn ameen

[@ShakeelAhmad-mq9do]

Sir one question If an inherited property is acquired and sold in the same year the cost of acquision will be FMV if not previously declared.

[@aamirrasheedrashidfcataxan1886]

@@ShakeelAhmad-mq9do oohh, Yes

[@adnanrasool1913]

​@@aamirrasheedrashidfcataxan1886is any capital gain arises in this case if inherited property sold in the same year?

[@ahsanulhaqhashmi9408]

Sir one question: ager kisi ka ek flat ho or woh isko rent per daker khud rent per rahta ho tou tax return ma rent ki entry kerne se salary ke sath milker tax generate hojata ha iski treatment kase hogi?

[@aamirrasheedrashidfcataxan1886]

@@ahsanulhaqhashmi9408 it's correct treatment. rent is taxed at normal rates you can adjust admissible deductions from rental income

[@sikandarraza7806]

Sir Gahar Ke Value 84 Lac Ha FMV OR MARKET Price 6 Coror Ha To Jab Gahar Sale Ho Ga Within 4 Year To 84 Lac Say 6 Caror Ko - Kayya Jaye Ga Like 51600000 Par Gain Tax Ho Ga Ya Fbr Ke Value Jo Ho Ge Os Par Ho Ga Jab Kay Payment Bank Mayn 6 Caror Kay Hessab Say Received Ho Ge As Par 1 Camplet Video Bana Layyan

[@ADVOCATE_USAMA_SHAFIQUE]

Sir oral gift ka kia status hy kia law es k according relief deta hy?

[@aamirrasheedrashidfcataxan1886]

Usama dear, ITO 2001 is based on evidence like any other law in the world,

[@NajamSheraz-t5n]

Meray walid sb non-filer thay. Ab main apni inherited property ki cost kia likhoon ga? FMV ya koi aur value? Kindly guide

[@aamirrasheedrashidfcataxan1886]

FMV

[@NajamSheraz-t5n]

@@aamirrasheedrashidfcataxan1886 Okay many thanks

[@ShakeelAhmad-mq9do]

Sir my father passed away in 2022 in Oct. At the time of death an amount of Rs 1500000 was available in the shape of cash. My mother was non filer at that time the amount was placed her bank account in November 2022. Later on while making my mother filer FBR return for the year 2021-2022 submitted in January 2023 the tax consultant recorded the said cash in other assets in WS with narration " Cash on Hand gifted by husband" Is it correct

[@aamirrasheedrashidfcataxan1886]

@@ShakeelAhmad-mq9do yes

[@umairyasir4796]

Sir. Plz Guide. If there is a property owned by father. Father passed away a few years ago. But Property is still not formally transferred (intiqal) on son name and still is on father name. Should son declare it in his returns? or can only declare after it is formally transferred on son name?

[@aamirrasheedrashidfcataxan1886]

@@umairyasir4796 after transfer

[@aamirrasheedrashidfcataxan1886]

@@umairyasir4796 after transfer

[@aamirrasheedrashidfcataxan1886]

@@umairyasir4796 after transfer

[@umairyasir4796]

@@aamirrasheedrashidfcataxan1886 Thanks a Lot

[@nomiiahmed2927]

Sir 7E submission m cost value big ho or FMV low ho to ....7E file hojae ga ??

[@aamirrasheedrashidfcataxan1886]

@@nomiiahmed2927 yes. Must file 7E form

[@sheikgg.7867]

Very informative plz guide We inherited a property in July 2023 and sold the same in Aug 2023. Acquired and sold in same tax year at FMV kindly guide how and where to report in FBR return

[@aamirrasheedrashidfcataxan1886]

just report any gain on that. nothing else

[@sheikgg.7867]

If no gain than where to report sale proceeds as advance tax under section 236 c is reflected in adjustable tax

[@ShakeelAhmad-mq9do]

Sir plz reply

[@sheikgg.7867]

Sir not replied

[@muhammadnaveedmughal8042]

I bought a plot on installment in 2014 on my wife name. I paid all installments. I am salary person. My tax lawyer (at that time) shows this plot in my tax return (in my asset) and continue dhoeing it since last 6 years with remarks "belongs to wife". My wife is housewife and not a filer as has no income. Should i file her first return and show this plot in her asset (As it is on her name) and delete from my return and asset. Kindly guide

[@aamirrasheedrashidfcataxan1886]

If you have few other assets as well. Then my suggestion is to show gift this plot from you ITR & file her ITR

[@aaishasaleem5602]

AOA sir please guide please i had 3 inherited property and one self purchase plot file and I have not declared them in my previous returns misguided by someone How could I declare all this asset in 2024 tax return ?

[@aamirrasheedrashidfcataxan1886]

Mistake. You may revise previous returns

[@muhammadshoaibmasood2563]

If a person giving gift through cross cheque and he is expakistani and he has not ntn holder

[@aamirrasheedrashidfcataxan1886]

yes, he can do

[@khubaibsgaming8022]

Son sold his foreign investment and transfered in dollars to his local bank in pak converted to pkr. Pkr amount gifted to father. Exchange gain to son on dollar is taxable ? I sense it is a gift transaction.

[@aamirrasheedrashidfcataxan1886]

Gain is taxable in the hands of Son

[@sheikgg.7867]

Deposit for issuance of shares means?

[@aamirrasheedrashidfcataxan1886]

@@sheikgg.7867 loan to company

[@sheikgg.7867]

Sir plz reply

[@aamirrasheedrashidfcataxan1886]

@@sheikgg.7867 Share deposit money

[@m.bilalyasir5517]

Sir video bohat achi thi. But 1, 2 cheezay clear nhi hoi, 20 years pehlay zarai zameen inheritance me transfer hoi. Ab wo zameen owner ne sale kr d ha. Owner non filer ha. But ab wo jo amount ha wo apnay bacho ko accounts me transfer krna chahtay hn. Ek question ye ha k owner ab capital gain tax pay kre ga ya nhi. Ar second question ye ha k owner wo amount apnay bacho k account me transfer kr sakta ya nhi. Need Attention plz....

[@aamirrasheedrashidfcataxan1886]

@@m.bilalyasir5517 owner will pay capital gain tax & can transfer amounts to his kids without any issue

[@amanalam7866]

Sir hum 4 bhai he, mery father ki death k bad unki property mother k name hogai he,,ab jb meri mother wo property sale kar k hum sb ko share dy gi,,jo share mily ga us par koi tax lagy ga? Or amount through bank leni he?

[@aamirrasheedrashidfcataxan1886]

No, it's a gift from mother

[@aamirrasheedrashidfcataxan1886]

bank transfer

[@muhammadaslam-z3b]

Sir if i received a plot Rs 700000/- on market schedule rate ,as gift from my wife, which was already showed by my wife in fbr return at Rs.1000000/- , so what amount should be shown by me in fbr return as gift, please tell me about it, thanks sir

[@aamirrasheedrashidfcataxan1886]

@@muhammadaslam-z3b 1000,000

[@TaxVisionbyNAUMAN]

السلام علیکم وارثان اپنے رٹرن میں کوسٹ وہی انٹر کریں گے جو متوفی کی کوسٹ ہے، دوسرا یہ بتائیں کیا متوفی نے پراپرٹی جس سال خریدی تھی کیپٹل گین اسی وقت سے نکالا جائیگا یا جس وقت ورثا کے نام منتقل ہوئی اس وقت سے

[@aamirrasheedrashidfcataxan1886]

when transferred to successors

[@TaxVisionbyNAUMAN]

@@aamirrasheedrashidfcataxan1886 it means property purchased by father in 2010 @ 1 crore, transferred to successors on 2024 when price increased to 3 crore , now successor will record their cost 1 crore in their 2024 return, successor sell it at 3 crore in 2024, then capital gain tax he has to pay for 2 crore @ 15 %, it means 30 lacs. Am I right

[@irfanahmadbhatti7955]

Aslamu Alikum, sir mairi ami na apna plot sale kr k amount mujy di aur ma na usy apny bank account ma deposit krwa dia, ab ma na aik plot b buy kia ha aur baki amount mairy account ma hi ha, Sir ma isko tax return ma kaisy show krn, plz bahot shukria

[@aamirrasheedrashidfcataxan1886]

please watch full video again, your answer is there completely

[@IrshadAhmad-tp7re]

Very good explanation. Sir me govt. Servant hn me ne apni car apni wife ko haq maher me de di ha properly ownership bhi osk name pe transfer ho chuki ha. Ab me tax return me apni car jo meray assets ka hisa thi kaise dispose off krn? Please guide. Thank you

[@aamirrasheedrashidfcataxan1886]

reconciliation statement

[@IrshadAhmad-tp7re]

@@aamirrasheedrashidfcataxan1886 agar car ko assets me se delete krte han tu oski qeemat reconciliation statement me aa jati ha

[@shahzadqurashi3942]

کار کی کون سی قیمت لگے گی Adjustment of out flows میں.کیا گفٹ کے وقت والی یا جس پر. Assets میں لکھی تھی

[@aamirrasheedrashidfcataxan1886]

@@shahzadqurashi3942 I suggest to engage some consultant

[@ubaidullah3965]

سر سیکشن 79 تھری B میں لکھا ہے کہ اگر ایک پراپرٹی بطور وراثت۔یا گفٹ کسی کو ملے تو اسکی ویلیو وہی ہوگی جو ڈسپوز اف کرنے والے نے ریکارڈ کی ہوگی ۔ تو پھر اس کے باوجود لوگ اسکی ویلیو زیرو کیوں ڈالتے ہیں ٹیکس ریٹرن میں؟

[@aamirrasheedrashidfcataxan1886]

if value was available then they should declare.

[@sikandarraza7806]

​@aamirrasheedrashidfcataxan1886 Sir Agar Gift Dayna Wala Abroad Mayn Taha Like Bhai Taha Jis Nay Behan Ko Gahar Gift Kayya Ha Bhai 2005 SAY USA MAYN TAHA OS NAY RETURN HE NHI JAMA KE KHABHI TO AGAR WOH SISTER KO GAHAR GIFT KAREY GA OS KE FMV 84 LAC HA OS KAY 1/5Th Share Par Gift Deed Banai Ha To Kayya SISTER KO 84 Lac Declare Karney Han Apni RETURN Mayn Plz Sir Reply

[@mustafaali328]

Sir, my father declared property at cost in his wealth statements for the past 15 years. After his death, WHICH of the following value succeasors declare in their wealth statement? 1) share of FAIR MARKET VALUE As declared in FBR table OR 2) SHARE OF COST AS DECLAREF BY FATHER IN HIS WEALTH STATEMENT. My father died in 2020, at that time income tax ordinance section 4A regarding FMV is avaialable. My FATHER DIED IN 2020, DO MY RIGHT IN PROPERTIES VEST IN 2020 OR AT THE TIME OF SUCCESSION CERTIFICATE?? WHAT I WANT TO ASK IS CAN SUCCESSORS START DECLARING THEIR SHARE IN PROPERTY IN TAX YEAR 2020 OR AFTER THE SUCCESSION CERTIFICATE??

[@aamirrasheedrashidfcataxan1886]

yes, successors can declare in 2020 ITR

[@aamirrasheedrashidfcataxan1886]

at cost

[@aamirrasheedrashidfcataxan1886]

at cost

[@mustafaali328]

​@@aamirrasheedrashidfcataxan1886 Sir, thanks for your kind reply but in tax year 2020, declaration of property at FMV provision is available. So technically now it should be share of cost but can we take plea that father died in 2020 so at that time FMV provision 4A of income tax ordinance available thats why in wealth statement Share of FMV of property is taken by successors. Is it ok for successors to show share of FMV of property in tax year 2024 wealth statement instead of cost considering the facts of my case??

[@aamirrasheedrashidfcataxan1886]

@@mustafaali328 Yes. you can

[@hafizfabrics]

السلام وعلیکم!اگر میری والدہ فائلر نہیں ہے اور مجھے گولڈ گفٹ کرتی ہیں تو کیا یہ ٹیکس اکزامپٹ ہوگا یا نہیں؟

[@aamirrasheedrashidfcataxan1886]

Yes. If she was not required to file ITR either

[@hafizfabrics]

@aamirrasheedrashidfcataxan1886 only 30 gram gold gifted hai jabka mai filer hu since 2022 Either she needs to become a filer for transferring a gift to me

[@zahirrashid7773]

I SPENT RS. 30 LAC ON CONSTRUCTION OF HOUSE ON THE PLOT WHICH OWNED BY MY WIFE. HOW I WILL SHOW IN MY RETURN.

[@aamirrasheedrashidfcataxan1886]

Either show in your ITR asset in the name of others. Add construction to that asset. Or file separate ITR of your wife and show gift