Latest Updates | How to add property on IRIS | Wealth statement | 7E New Property Option on IRIS |

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
wa.me/92300757...
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

[@randomvideos---]

Valued informatic video

[@hussnainhaider7327]

Thank you sir❤❤

[@faheempracticallearning]

@@hussnainhaider7327 👍

[@muhammadraza8703]

اسلام علیکم فہیم صاحب..... آپ سلامت رہیں.... Declared value اور fair market value میں فرق واضح کر دیں. مہربانی.... والسلام

[@alibintariq8509]

1) If a person has a house, it's FMV is

[@syedalimoosa]

Sir.I have submitted my return in September 23,showing my properties in my wealth return. Now I need 7E form to sell them. NOW how to add properties in previous year TAX return changed (capital asset) form?

[@faheempracticallearning]

03007574731 discuss on this number

[@fazalkhan6816]

Good informaion. I have one question. If some one have purchased plot 4 or 5 years before and they have declared in income tax return and pay tax at time when purchased. Now they construct house on this plot this year. Then how they will fill their tax return form in IRIS or as previous one 2021-22 thanks

[@atiqurrahman3304]

AS Salamu Alikum , 3 Properties hain 1 constructed hai and 2 Plots hain, and combined cost value 10 million say zeyada nai , or na fair market value b 12 million tak hai , tu ye 3 nu exempet ayeeen gain

[@faheempracticallearning]

Yes, because less thn 25 Million

[@atiqurrahman3304]

@@faheempracticallearning Thanks

[@abrarahmadhashmi2038]

@@faheempracticallearning agr combined 25 million+ ho then?? and agr ak 10 million hay what after construction?

[@yawarsiddiqui9203]

How to add 1/3 share of ownership of property in capital Assets 7e? In karachi

[@faheempracticallearning]

add same, mention 1/3 share, make sure address and area must be clear, otherwise at the time of sale, this certificate land record department will not accept

[@sajidmofficial]

If i have purchased properties on others name, we still have to submit 7E form with return?

[@faheempracticallearning]

If on other name, thn why in your return, it must be reported in same name

[@asla7850]

love you bro

[@abrarahmadhashmi2038]

How to add consturction? Do we just need to increase Asset value? or what

[@khalidMahmood-ew4vm]

How fair market value of constructed shop or house will be calculated. Values of constructed buildings not given in FBR valuations of Immovable Properties.

[@altafamirali4946]

Thanks sir for your infomative video. My question is regarding 7e will be applied on 25 million value of one property or consolidated 2-4 properties

[@faheempracticallearning]

yes for all properties not on one

[@AkbarAli-w9v]

Assalumu Alaikum, Sir, i had added property of my wife name as assets in other names in my own tax return. Last year my wife also registered as filer but her named property still in my return. How to shift it to my wife tax return and remove from my return.

[@asadullahpanhwar7447]

Purchase of prowety par advance tax kese add karein ? Receipt value mein konsi value likhein

[@rafiuddinjunejo7635]

May you guide me . We have a inherited property in my name. High court has granted letter of Administration to me to sale the property and share the sale proceeds to many leagal heirs. All this process is under court supervision. Is this property to be mentioned in the return or not .

[@accountingmadeeasy8135]

Is ke 2nd lecture ka link de dein Jis mein 7E ka tax lage ga

[@faheempracticallearning]

watch all 7E lecture, available in channel

[@khawarhashmi1705]

Nice

[@nosstudio5491]

AoA bro mery pas 2 properties hn plots hn wo 2017 sy return ma same a rahi hn unconstructed plots hn unka 7e b hoga? Q k wo properties to sirf assets ma declared hn 2017 ki price ki mutabiq. Please help. Btw your videos are awesome! 👍

[@TMTAHA0802]

Aslam o Alikum Sir mera sawal hai k kia assets main new property ke cost price vo mention krain gy jis amount k against 236k ka tax submit kraya hai ya vo amount jo seller ko pay ke hai? Q k 236k to usually DC rate pr dia jata hai. Please advice

[@72alihassan]

I was worried about non-edit button of assets due to urgent retuning of annual retun, but after viewing this video, solved the issue , excellent❤

[@anwarulhaq796]

The information is excellent but what will be for those who have already filed the return. Revision has no option for 7E. Is there any separate form? If so, from where it can be available on portal.

[@shoaibrasheed9556]

Sir kindly ya bi bata dain agr plot 04 years installment pay ho aor 01 year ki installment pay kr.di ho to us ki value ko kasy add krhain gy ..Thank you..

[@faheempracticallearning]

Installments plot not added

[@shoaibrasheed9556]

@@faheempracticallearning ok Lakin jo installment pay ki ja rhe hain ushay kasy btya gy ky ya pasay kaha use kiya?

[@faheempracticallearning]

@@shoaibrasheed9556 book as an asset bit don't report in 7E form

[@shoaibrasheed9556]

@@faheempracticallearning jb installment complete ho jahain jb 7E my add krna?

[@meesumali4449]

Sir agr Shuhada family ki property ki value 25M sy ziada ho phir bhi tax exemption haina???

[@faheempracticallearning]

Yes

[@meesumali4449]

Jazakallah...

[@meesumali4449]

Section 155 "Rent of immovable property" kaha py entry krni parti hai thora guide karengy please... woh jo housing subsidy ki tax deduction hoti hai kis tab mey entry krna chaheay??? Please tell it's urgent

[@wariskayani-r7t]

Sir ak question ha k mra ghar 2001 ka bna hva tb 5 lakh cost aai thi tw ab 7E form mn cost value 5 lakh likhni chahiye or market value 50 likhni chahiye ho k aj kal ha ? Please es ka response kijiye ga

[@hrzbrotherchannel2298]

or installment m ho tu pir Kiya reason ho ga

[@leadersintheworld5052]

AoA sir Acha sir mera abu n aik makan lia ha 53lac ka and ham 4 bhe k name lagia ha jo k har bhe k hisa 1325000 ha and uska u/s23k k mtabik 2 percent tax pay kar dia ha active filer ki waja sa Ab Adjustable tax ma khud hi Receipts ma 1325000 and tax collected ma 26500 a raha ha ab Isko property section ma b likhana ha and 7e ma b and ?Jo tax ha adjustable ma araha wo kis trha deal krna ha wo refund ma a raha ha?

[@MohsinKhan-fv2ww]

Sir where we write advanced of property some instalment remaining and title of ownership not transferred

[@faheempracticallearning]

My suggestion, mentioned in others assets.

[@muhammadimranrasheed2591]

Aoa kia inheritance property pay behe tax hay kindly guaid inheritance property kese enter karen

[@muhammaddanishluqman9773]

How to add inherited property?

[@faheempracticallearning]

Report on registry value if have.

[@muhammaddanishluqman9773]

so you mean cost shall be registry value and fair market value? in my case, i have no registry just computerized sheet from Land record. so my cost would be zero and market value. AM I RIGHT?@@faheempracticallearning

[@zohaibkhan-f6p]

I purchased property in 2023 and declared it in wealth statement return filing 2023 but not entered in capital asset 7e. Should I declare property in current year return filing 2024 in capital assets? Please also guide how to add inherited property in return filing?

[@nosstudio5491]

AoA bro Did you get the right answer? If yes please lemme know. Thanks

[@cadtech8588]

Assalam u Alaikum! Form 7E ki properties ki value 116 wealth statement man reflect nahi ho rahi. Yani 7E fill karnay k baawjood 116 wealth statement man property ki entry show nahi ho rahi

[@faheempracticallearning]

W.salam Yes this is the issue, still exist in tax return, my suggestion wait if your return not reporting sams. May be 2 or 3 days wait

[@ayeshakhan2363]

It was so informative. JazakAllah 😇

[@Bholapanchi]

Make video to enter INSTALMENT AMOUNT OF A PLOT in return.

[@mashhoodhassan9227]

Can we put only purchase value of plot/house? And put fair market value 0 instead of same?

[@faheempracticallearning]

Watch latest lecture

[@khandad1597]

Asslam Alaikum sir kia unregister person be pay kary ga tax under 7E

[@faheempracticallearning]

Yes

[@mohsinmadina]

Property total value 25m say kam honi cahiay ya eik property ki value 25m say kam honi cahiay?

[@faheempracticallearning]

Total

[@yasirmahmood5502]

AoA, thanks alot for guidance sir, i have a question. If a person bought residential files who's installments are pending. ( File is shown as a property asset with total value while remaining installments are declared as loan in previous returns) should these files be declared in 7E? ( Thinking of moving those properties in "other Assets" and not show in 7E)

[@Compwib]

Cost should be lesser than FMV . Same value of cost and FMV will give impression that property bought in the same year.

[@faheempracticallearning]

Yes normally FMV, more thn cost

[@dansunchi]

Which option should I choose if using for self residence? Secondly the covered area, mention covered area of the ground floor or all floors? Thanks in advance. Waiting for overseas video as well?

[@faheempracticallearning]

one capital asset exempt

[@mirzabrothers6255]

Sir property wealth m edit option b available or double enter showing

[@nosherdude5181]

Other reason select ki apne wo nai smj ayi Q ? jiss property ki value 2.5M se kaam hogai wo exempt hogai kiaa???

[@faheempracticallearning]

We mentioned specifically so that, subsequently no notice, FBR officer can easily understand

[@shajaisaleem5909]

As advised by u to declare the same value for cost and fair market value. This will make the reconciliation out as the FMV is estimated amount. Pls comment and advise

[@faheempracticallearning]

No, same FMV have no impact on wealth this is only for calculation of tax, try this

[@manzykhan]

In DHA we can't give our plots on rent. Then how can we avoid 7E?

[@faheempracticallearning]

This is option, otherwise change the ownership, to immediate family members, or need to pay tax,

[@111shamim]

Abhi myne form khola hy 114 (1). 1. Wealth statement waly part m sari properties value k sath show hu rahee hyn ( last year wali). Myne last year ka data import bh nhi keya hy. Baqi form blank hy. 2. Ab myn jb 7e waly page m property add krta hoon tu wh wealth waly personal assets / liabilty m add nhi hu rahee hy. Wh bs 7e m rahtyn hyn aur tax calculate hu ta hy. Aap ny btaya tha k wealth waly section m automatic 7e sy data export hu jay ga. Aysa tu nhi hu rha hy. Kindly check kr lyn FBR n koi aur changes tu nhi kr de hyn.

[@AliRazaBhutta]

Sir ager tmam properties exempted hain lakin unki value 25Million se above ha then?

[@faheempracticallearning]

Thn also same process , just select all relevant reasons

[@zainabsuleman2707]

Excellent presentation

[@asla7850]

ye cheez

[@faheempracticallearning]

👍

[@Knowledgefactor838]

Mere form mai tu arhi hyn 🤔🤔🤔 j mean property k agy add ka button.

[@faheempracticallearning]

Nice

[@miansaeed2001]

Good information bro

[@user-cc8tp3gg1v]

Sir A person received property from inheritance and wants to return file first time.Kya inherited property ki value add karni hay ya zero value dalni hay .kindly update kar dain. Property has been transferred in the name of tax payer

[@bakhtawargameplay]

Aoa Sir, agr 3 plots hon or un ki cost value bhi 3Million sy kam hon, to in teeno ko 7E k kiss waly option ma entry kary gy? Other waly last option ma kary ya nahin?

[@alphabeeta2880]

If I purchased property against sold gold and animal then how can I adjust

[@malikmehfooz]

Please tell us that which value should be entered in asset form for inheritance property ? If enter current value then how should adjusted that amount ?

[@wasifangel]

Assalamoalaikum Sir Meri understanding k mutabiq, aapne jo value exempt ki hai, wo non exempted hni chahiye. 25 million se kam hgi, non exempted bhi hgi to tax 0 hi hga, lkn 7E k mutabiq wo accumulated 25 million pr tax charge kreinge. Agr har value 25 million se kam hm exempt krte jayeinge to wo to phr kbhi bhi tax nhi bnega. Ham non exempt rkh kr file kreinge, jab tk accumulated 25 million se kam rhegi properties, to tax bhi charge nhi hga. Ye meri understanding hai, maybe i am wrong. Kindly reply on this. Thanks

[@faheempracticallearning]

If less thn 25 million, this is understood that 7E not applicable, that means exempt.

[@wasifangel]

@@faheempracticallearning ok thanks

[@mustafaatiq8781]

Thank you Faheem Sb for this informative video. I filed my taxes a few days ago and I made a minor mistake. My property (residential house) is less than 25million and on the exemption option I chose NOT EXEMPTED. However I entered the cost price and FMV as the same like you have also suggested which is less than 25Million. Will FBR have an issue with this? Thank you for your time

[@faheempracticallearning]

after pressing non-exemption any tax calculated of 7E?

[@mustafaatiq8781]

@@faheempracticallearning No sir, because I put the cost price and FMV as the same, there was no additional tax and I submitted my returns. Now the only issue is that it mentions on my property "not exempted"

[@faheempracticallearning]

@@mustafaatiq8781 no issue if total value less thn 25 million

[@TheInfoSite]

Thanks Dear

[@muhammadahsan5400]

sir ihave submit the return on 31 August but didnt see these option kindly guixe me now what to do

[@cecosian007]

How to include Properties on others name ?

[@mirzabrothers6255]

Sir capital asstes 7e in ko wealth m new tab add krna chye tha ya oper capital asstes m

[@faheempracticallearning]

pls watch complete lecture already explained, don't forward, if still some issue, inform i will reply

[@mirzabrothers6255]

Yes sure but may b update will be soon as defined

[@sherdilkhan254]

It mean that each asset should be less than 25 million. But if the total of assets is more than 25 million then what?

[@EASTZIA994]

sir i have inherrited property how i calculate FMV ?

[@mahmoodabid6840]

If FBR value is less than declared value then on which value tax to be paid

[@waqaszaman6737]

Sir agr land sale pe palay bayana mil jye or land ki sale next financial year me ho rhi hy. Ub Jo amount bayana me mil hy is ko advance me record kry. Please guide

[@experiments111]

Agar property non filer wife k naam ho aur husband ne usay apni return main asset under others name main declare kara ho, toh kia aisi property ko bhi 73 main show karna hoga. Return august main file kardi thi. Yeh return main show horahi hai, fbr ne delete nahi kari.

[@92islamicworld2]

overseas exempted??

[@faheempracticallearning]

yes this section not applied on non-resident, if fulfil the definition of non-resident. pls watch non-resident lecture for complete understanding.

[@masoodbabar1144]

Agar kisi kay name peh inherited property ho tu uski cost price kya likhni hai? Agar inherited property mein 50% share ho ya co-owned ho uski treatment kesay hogi? kindly elaborate.

[@samanmalik4314]

How to register on fbr for property registration?

[@faheempracticallearning]

not get your question?

[@samanmalik4314]

@@faheempracticallearning plot lia hy uski registry krwani ab .. usp tax b hna .. to kisi n kaha tha k fbr p phly register hojain to tax km hojata,, something like that.. aisa kuch hota to mje guide krden plz

[@educatzen8515]

Agr property purchasing date 8 , 10 years phly ke ho then fair value kon c put krni ha ... ? Fair value jo current ho ge whe put krn gn?

[@advocateqaisar1897]

Salam sir! Jinho ne return submit kerwa di ha wo Kiya krain ? Aur 2ndly agar wo revised krain ge to cash Kam ni ho jaey ga ab

[@haleemburiro]

Agar previous property he aur jab hum import karte hen previous return to property wealth me ajati he .

[@faheempracticallearning]

no need to import, just put new

[@haleemburiro]

Return file kardia tha last month. New property purchase hi Nahi ki , just previous already return me thi. To return import Karke baqi filling Karke file kardia . Kia ab revise Karen return?

[@Muhammadfaizan-wn2nl]

kya inherited property ke value add krnty wqt uske value kesy likhne hay matlb market value likhne hay k nahi kindly

[@humanaz7053]

Masha Allah buhat timely aap ki video aati hen jo buhat helpfull hoti hen

[@faheempracticallearning]

@@humanaz7053 👍

[@ranashamshadali8464]

Sir Lease par li hui property ya House ko Kahan enter karengay usmen lease amount Jo pay Kia hoga wo Kahan enter Karna hoga

[@muhammadanas11]

How to file Freelancing income ?

[@abdulhayee1370]

good

[@faheempracticallearning]

👍

[@jattbabu5273]

If return alredy submitted than what?

[@faheempracticallearning]

Ok, or within 60 days you can revise

[@mirzabrothers6255]

Ager ap n return submitted kr d h tu ap return ko open kar k check kar lay ager ap ki property removed h tu return revised kar lay

[@atiqurrahman3304]

As Salamu alikum sir , non-resident Pakistan-origin k form mian, 7E ka head b delete kar diya or manual entry ka options b hatam ho Kar deyaaaAlternatives

[@hafizimranrafi452]

برائے مہربانی رہنمائی فرمائیں کہ اگر ایک پراپرٹی اقساط پر خریدی اور جس سال اقساط مکمل ہوئیں، اسی سال اس پراپرٹی کو منافع کے ساتھ بیچ دیا۔ اب FBR Returns میں اسکا اندراج کیسے ہوگا؟ شکریہ

[@educatzen8515]

Aur jo ab tk files return kr den hn..un ka kya krna ho ga ... Revise krna ho ga ?

[@techworld2223]

No 7e option

[@faheempracticallearning]

Have

[@syeduzairali9412]

Sir, Residential property ki jo file main purchase value/amount likhi hai wohi amount Capital 7E main put karni hai? Previous jitnay returns Hain us main 1M show ki howi value property ki. Guide Karen.

[@faheempracticallearning]

Yes as previous return

[@faheempracticallearning]

otherwise wealth will not match,

[@mirzabrothers6255]

Yes just put last return formate through 7e form

[@syeduzairali9412]

If wealth statement is not matching after revision of income tax return like cost of property in my previous income tax return is 1Million is declared but now fear market value according to FBR valuation is 2.5Million of my property. So we need to revise wealth statement again & show the difference of assets?

[@hamaraapnastudio6618]

What about overseas Pakistani

[@faheempracticallearning]

Not applicable, later I Will upload lecture

[@hamaraapnastudio6618]

Yes please do upload for overseas

[@mohsinalishaikhvlogs282]

Sir vehicles kaha add kardege

[@drhabibullah6119]

اگر کسی پرسن کی دو یا دو سے زیادہ پلاٹس ہو تو اس کی مجموعی قیمت نکالنی ہے یا ہر ایک پلاٹ کو جدا تصور کیا جائے گا ٹیکس7 E کے لئے ۔شکریہ

[@daaben5600]

save nae hota ?

[@SafdarAli-vx5mj]

7E form ma inherited property b likhne hai kia?

[@rizwanali-wt5ho]

Dear property py Jo tax pay kia Hy wo kese add Karyn gyn 7E k form myn ya Tex return myn

[@aliimranbutt4935]

Please guide how to mention house purchased in society where transfer files are in use and for registry society owner demands that his gain tax be paid by purchaser due to this mostly people dont have proper registry and intiqal?