Taxation Regime Income Tax | Adjustable and Minimum | Final | What is the Difference | FBR

• 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-231A Advance tax on cash with drawl
7. Section-231AA and 236P Advance tax on certain banking transection
8. Section-231B Advance tax at the time of registration of private motor vehicle
9. Section-235A Tax collection from domestic electric bills
10. Section-236 Tax collection from telephone users
11. Section-236B Advance tax on purchase of domestic air ticket
12. Section-236D advance tax on function and gathering
13. Section-236F Advance tax on cable operator and other electronic media
14. Section-236G Advance tax on sale to distributor, dealer and wholesalers
15. Section-236H Advance tax on sale to retailers
16. Section-236I Advance tax by educational institutions
17. Section-236U Advance tax on insurance premium
18. Section-236X Advance tax on Tobacco
19. Section-236Y Advance tax on remittance abroad through credit, debit or prepaid cards
20. Fine and penalties
21. Section-177 Audit
22. 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

[@shahzadhassan777]

Ap ki videos boht informative hoti han Jo Tax ka kam krta h specially us k lia..God bless u and Keep it up

[@faheempracticallearning]

Jazak Allah

[@qualityflavorsmacc2380]

you are a hero.i followed from MHSS group and just a fan of you. thanks for all support and videos

[@ateeqahmed6820]

Today i understood the diff between two after 6 years in accounts working. Haha. JazakAllah Sir

[@faheempracticallearning]

Great 👍

[@waqarahmad2541]

Great Job. Getting better understanding after taking your lecture and many concepts clearing day by day.

[@faheempracticallearning]

👍

[@ranamuhammadashfaq]

Very nice Respected Sir..... Great efforts

[@faheempracticallearning]

👍

[@mrhumman9100]

Mashallah sir I was very confused now solved

[@shafiqhussain2329]

mashallah your are the best teacher

[@syedjawadali6386]

MASHA ALLAH

[@infusesports5646]

MashAllah

[@aat8080]

Sir.. supply pr jo tax withhold hota hai agar wo corporate taxpayer ka ho raha ha to adjustable hota hai or agr indivvidual ya aop taxpayer ho ga to minimum ho ga ... or ap ko minimum tax liability ki calculation b ghalat hai... minimum tax liability ka alag se aik tab hai return me jis me system withholding pr attributax taxable income nikal kr kr us pr tax lagata hai or us tax ko witholding tax se minus kr k jo bachta hai usy minimum tax difference nikal kr liability me add krta hai...apko concept theek ni hai

[@faizeefa426]

Explained very well..

[@raja99614]

It is written that its adjustable for company and if monthly bill exceeds 30000 per month then it is also adjustable for others.

[@faheempracticallearning]

Yes for all tax payers, it is Advance income tax, provided bill must be on NTN or CINC, that need to adjust

[@Accountant2023]

Behtareen video Faheem Bhai Masha Allah

[@hafizabdulqadir7561]

Sir,Thanks for knowledge

[@faheempracticallearning]

Most welcome

[@muhammadejaz2143]

The only exception to the above general rule is that in case of a company, the tax deducted at source from Dividend is an adjustable tax deducted at source and the dividend subject to deduction of tax or dividend which is exempt from deduction of tax at source, is chargeable to tax, if not otherwise exempt; please guide as in iris; section 150 is falling in Full and final;;;;;but in adjustable; section 150 not being shown

[@faheempracticallearning]

Dividend covered under Final tax

[@NoorMuhammad-xl4ow]

Great Faheem Mehboob

[@faheempracticallearning]

Jazak Allah

[@asadrasheed001]

@@faheempracticallearning Sir please make one video how to file tax return for person earning from commission under sec 233 ITO, 2001

[@awaismughal882]

Sir Kindly Also Make Videos On How To Apply For Sales Tax/Income Tax Refund And What Calculation You Have To Perform And How To Get Refund? Thanx.

[@faheempracticallearning]

noted, in future i will explain

[@TheUmaiz]

For export of services under FTR. If export of services Pvt LTD get internet service from vendor Pvt LTD, and vendor Pvt LTD deducted 15% Advance Tax from export of services Pvt LTD. Is that deduction valid? Note: export of services Pvt LTD already paid 0.25% on remittance received in bank. Thanks for this video👍, as it gives complete guidance for FTR, minimum tax and advanced tax.

[@faheempracticallearning]

Yes, as per law, Internet, providers companies need to charge, advance income tax.

[@kharedosubkuch6313]

Thanks 👍

[@muhammadamirkhan8258]

Allah bless you

[@babybootv9444]

Sir in case of exporter ,tax liability is payable on 1% turnover , but exporter also sell their leftover goods domestically how would it be treated when calculating income tax since the liability is decided on basis of exporter turnover .

[@faheempracticallearning]

then 2 portion of sale one export and local, apply separate rules on both category sales, for exporter 1% final and for local apply minimum or adjustable rules,

[@babybootv9444]

Sir earlier my Senior used to calculate Tax liability on Turnover (Local + Export) @ 1% since our company was engaged in 90 percent Export and 10 percent local and it was FTR at that time but this year he calculated tax liability on Operating Income before Taxation as Normal Tax regime , my concern is he was suppose to calculate Export Part on basis of turnover @ 1% (FTR) and remaining Local Part as Normal Tax regime but he calculated entire Tax liability of Exported oriented company as Per normal tax regime .. please guide me either he is right or he was suppose to spilt the tax liability on basis of Export (FTR basis) and Local Sale ( NTR) .. i was told that now FTR is no more valid on Export ...

[@faheempracticallearning]

exporter fall under FTR other part taxable on NTR

[@junaidmaher5655]

dear sir meray ek client ki section 153(1) a me 4.5% k hisab se Supply he Rs. 965,313 r tax deduct hua he Rs. 43,440 r uski is saal me local sale he Rs. 29,985,000 r normal income he RS. 600000 lekin jb hum normal income bnatay he to ye tax demand nikal deta he minimum tax calculate kr k brae mehrbani is pr rehnumai farmae kiu k final tax ko bhi ab minimum tax kr dia gaya he to wo kis trah hum calculate krein gay

[@faheempracticallearning]

Check lecture of annual income tax return

[@faizullahfaiz9509]

Masha Allah bht aala. Mra Senior iss ko issue bna kar mjay bht taung karta hy aur dousra agr individual ka CNIC Nhi dalain sirf NTN daal dain tou koi issue hota hy?

[@faheempracticallearning]

Yes no issue, just double check NTN should be right

[@fdr2671]

Sir yeh bhi explain kar dain agar MTR wala tax 9% (non ATL) men zaida cut ho ja khuch period ke liye and khuch pe 4.5% wala ho tou jo excessive deduct ho uski treatment kya hogi kya woh refundable men aa jae ga.... esi tarah agar goods pe by mistake services wala ya by mistake koi aur additional rate than 4.5% tax WHT ho ja tou us excessive ki treatment kya hogi..... Thanks

[@faheempracticallearning]

later, i will upload one by one

[@bilalayaz7529]

Sir please elaborate between PTR and NTR

[@fdr2671]

Sir es calculation ke saath IRIS pe upload karnay ke baad IRIS Minimum tax TAB men attributeeable income ki calc karta hai usko explain kar dain and yeh bhi bata agar inoives pe 4.5% MTR tax cut huwa kye es revenue pe dobara 1.5% Mini 113 wala consider hoga???

[@faheempracticallearning]

already have lecture on this topic, check channel

[@UbaidUllah-nj5et]

Mera aik dost ha jo honda motorcyle ka distributor ha aur 100% adjustment ki category me fall krta ha....uska input 60% disallow hua although integration ka bd order hogya to remove input bar....lakin fbr walay khte han jis month me input disallow hua us month me apko disallow payment pay krne hoge next month uska refund milayga...kya koi way ha ka payment se bach jayen?

[@ahmedsyedharis7286]

Sir Currently Tax return IRIS portal is not considering the logic you used in this video.

[@muhammadumarfarooq8450]

Dear Sir, you have not discussed thrashhold limit for minimum tax for non manufacturer, does it come for minimum tax application or not.

[@tabkhan1179]

minimum tax jo applicable ha wo 10 million say above ka turnover pay ha jinka turnover 10 million say kum ha to wo sirf slab rate layga kaya?

[@AshrafKhan-nq7bz]

Wht statement 165 ma agar different fbr payment code hay range walay i.e to 1531b 9 % to 13 % paid agar Adjustable ma kiya hay to final ma taxable different show hota hay ,mean mismatch ho jata hay Why sir?

[@muhammedyousaf09]

sir minimum k case me prescribed or non prescribed sales bhi hote hain na is issue ko bhi kindly address ker dayn..

[@faheempracticallearning]

yes later i will upload detail lecture on this topic

[@theworldofparadise6529]

Sir question abi b same ha, k kis base pe adjustable ya final select karain, bcz ma na aik party ka tax final ma juma kraya to party na rola fala k adjustable ma krana tha, ab yeh ni smj aa rhe k kis base pe final ya adjustable select karain

[@faheempracticallearning]

Check lecture again

[@mohammadnadeem5595]

Dear sir, I work in a Gold Jewelry sales & buying business my monthly sale does match with FBR sale I noticed that some FBR invoices does not have FBR invoice number, kindly suggest what should I do

[@asadhafeez6886]

faheem bhai pos ma registered hone k bad jan-22 k return ma sale upload kar rahe hain to 17 % tax nahi show kar raha value show kar raha ha plz help?

[@faheempracticallearning]

Check POS Integration

[@mateenkhan7775]

Plz tell me how is averahe tax rate

[@faheempracticallearning]

?

[@abdulrafayrj7433]

AOA sir i am trying to upload debit notes through the template but it showing error and when i use to feed in iris there is only dec and jan date avalible and if i go with the template it use to take only my oct debit note and shows error on the other dates and while i use to import it use to say file version miss match

[@faheempracticallearning]

yes wait for next updates from FBR side

[@asifjaved3146]

Sir Anex-B me agr hum ne import stage pe Value addition tax pay kiya tu wo input ka part nai ban raha ?

[@faheempracticallearning]

yes, still work in process, wait for next update from FBR side

[@muhammadwaseemakhtar4086]

Sir main teacher hon, 2022-23 ky period mein mera 821730 salary sy tax 4158 cut hua jab ky iris ny 5337 calculate kia. Taxable income 803730 thi, 18000 madical allowance ki waja sy exemption thi. Kindly bta dy jo 4158 main ny pay kia ye kon sa tax banta hai mimimum ya adjustable?

[@user-rs8uw7yx2q]

Salary per Jo tax deduct hota hain u/s 149 it's adjustable not minimum. Please feel free to contact me any further assistance.

[@axumer95]

Sir agr hum adjstble py tax pay krwae gy. or hmari income py wo tax charge nhi hota to amount refundble me show hogi. or wo hum next year use kr skty h. or agr final me pay kry gy to final hojae ga NO udjsment. kindly oversee

[@faheempracticallearning]

in this lecture, we discussed about payment of withholding, when Mr A deduct income tax of Mr B and deposit may be on Final or adjustable not issue for Mr A, but Mr B will file his annual income tax return as per rules applicable to Mr B, for example if he fall under final regime, then he will report this deduction under final regime, so 2 part of lecture

[@azeemiqbal117]

Asslam o alikum sir Kindly send sec 153 rates on different items and sro who is withholding agent

[@faheempracticallearning]

Dear one by one i will explain next lectures

[@kamrankhanniazi3834]

UnRegistered Trasporter, how much is the SRB tax?

[@faheempracticallearning]

not get your point, explain again

[@haseeb1749]

Sir whether minimum tax should be carried forward to the next year like adjustable tax or not?

[@faheempracticallearning]

no

[@babybootv9444]

Sir ,minimum tax is only applicable if turnover in year has gone above 10m ?

[@faheempracticallearning]

yes if unregistered sale, if registered sale then 4% or 4.5 for company and other then company ;)

[@raja99614]

235k tax on electricity adjusted tax hai ya final hai

[@faheempracticallearning]

Adjustable

[@saleemshaukat1500]

Aoa sir aik person ki salary 149 pr annual ha. aur us ka tax 10% bhi cut hua kuch companies me . jab iris me hum entries krte ha to tax refundable me ajata salary pr jo tax tha wo pura cut hua ha. ye Difference of Minimum Tax Chargeable me batata kuch tax. is ka explain krde zara.

[@faheempracticallearning]

Check data, may be reporting not ok,

[@faheempracticallearning]

Report in salary tab

[@saleemshaukat1500]

@@faheempracticallearning agr aik income 153 section wali 149 pr add kr k entry krde to koi issue to ni ho koi notice ane ka chances to ni ho ga sir?

[@faheempracticallearning]

@@saleemshaukat1500 no, if tax deducted on 153, then need to report in business income.

[@faheempracticallearning]

Check lecture of rent , business income and salary, already have on channel

[@qamarfaizi35]

Thanks for knowledge

[@faheempracticallearning]

Jazak Allah

[@saadtariq4316]

Asalam o Alaikum section 149 adjustable q hota hai ??? Salary tou manufacturing aur other than manufacturing dono detay hain

[@faheempracticallearning]

Adjustable for employees

[@saadtariq4316]

Employees jab apna return file karainge tou jesay apne.kaha sir ke manufacturing keliye adjustable baqi other business ke liye final ....tou salary individual tou business mai fall nai karta usko adjustable mai q dala final mai q nai ???

[@faheempracticallearning]

It is adjustable for employee in annual return

[@saadtariq4316]

@@faheempracticallearning tou employees ke liye adjustable q final q nai ???

[@faheempracticallearning]

@@saadtariq4316 dear it is law, we need to follow law

[@jojinfoworld]

I have submitted return for tax year 2021 and 2022 and now I want to be Filer so which year I will make challan ?

[@faheempracticallearning]

tax year 2021, for this you also need to file return of tax year 2021

[@jojinfoworld]

@@faheempracticallearning I am small Transporter so which challan I will make ? Thanks.

[@faheempracticallearning]

@@jojinfoworld income tax thn select miscellaneous thn select ATL option

[@kharedosubkuch6313]

Any way for exemption of 1% WHT on exports?

[@faheempracticallearning]

Final tax, have no exemption

[@advocateqaisar1897]

In case of govt.employee same concept apply sir?153(1)b services

[@faheempracticallearning]

Not get your point?

[@advocateqaisar1897]

@@faheempracticallearning sir 1 teacher payment receive krta ha under sec 153(1)b at 10% and some payment received at 8% allama Iqbal uni se us case main ye ftr main aye ga k adjustable main

[@faheempracticallearning]

@@advocateqaisar1897 adjustable

[@advocateqaisar1897]

@@faheempracticallearning sir adjustable tab main 8% ha bit 10% ni ha.income tax return 2022 form mainm

[@faheempracticallearning]

@@advocateqaisar1897 use minimum in facts no difference in the end between minimum and adjustable

[@mp4movies241]

sir g apka kisi nay 1lac 17 hazar qarz dena tu nahi hai ya phir 1 lac 17 hazar ka nuksan hogya hoo har video m e 117k amount lay ray hootaay

[@faheempracticallearning]

😄, it is easy to understand, round amount.