Treatment Of Gift In Income Tax In Pakistan | Gift Conditions in Income Tax | Errors in dec. of Gift

[@manzarsaqlain4842]

Sir your video is always to the point and very informative !🙌 Keep up the good work

[@FinanceLecturesbyMuhammadImran]

Very Comprehensive Coverage of stipulations relating to gifts.

[@taxationistcorporateconsultant]

Thank You So Much for the Complement... Means alot

[@Wbuttar]

Good work sir 👍

[@insighttax]

GREAT VIDEO THANK YOU VERY MUCH SIR

[@taxationistcorporateconsultant]

You are welcome

[@irfanamjadsheikh7764]

Informative video

[@taxationistcorporateconsultant]

Thanks.

[@mbqamar7892]

Very informative Sir 🎉

[@taxationistcorporateconsultant]

Thanks.

[@MuhammadBilal-tl8li]

​@@taxationistcorporateconsultantSir kindly guide kr dein k immoveable property(plot) as a gift declare kia tha 2020 tax year ma As plot was made transfered from elder brother Didn't got any email or notice but want to know that how to make deed for gift and also donor is not registered with FBR or without NTN

[@falcopilot7519]

Sir for tax yr 2017, in case of gift property, deed+ both giver n taker kay returns ma show krna lazmi ha gift thanks

[@moosagaming7519]

I would like to appreciate the precise and fully informative video. If the person who gives gift and the one who receives are filer and have mentioned amount of gift in inflow and outflow respectively, then there is a query that is it necessary that One must receive the same amount in bank via transaction as well?

[@taxationistcorporateconsultant]

yes its baisic req of sec 39

[@shamimlon]

If I want to gift a plot or a house to my wife do I need to pay taxes on this

[@HMalikTaxPractitionerFBR]

Great 👍

[@taxationistcorporateconsultant]

Thank you! Cheers!

[@CRICKETFOOTBALLTENNIS]

sir kindly guide me 236k apllicable or not when property transfered in the shape of gift....any sro for confiramtion on the applicablity of 236k

[@AdnanKhan-cu2js]

A good topic with very well explanation... TY sir

[@taxationistcorporateconsultant]

Welcome.

[@m.shehzad8864]

In case of immovable property,Can recipient side declare gift as zero value in wealth as well as in reconciliation.? Because it cost nothing to the recipient. Though donor declares in his return this gift as per cost.

[@taxationistcorporateconsultant]

On same cost as per donar

[@amanalam7866]

Sir cash ager bhai say as a gift through banking channel ly to kia koi gift deed b bnani hogi

[@taxationistcorporateconsultant]

Behtar hy agr bna lain..

[@Divocartandcraft]

If gift money is given through mobile phone bank application, even then Gift Deed is required ?

[@munakhan100]

Nice video.

[@arbabgoharghayas]

Dear Khurram, Thanks for a brilliant explanation. Just want your openion doner and donee both are filers and husband wife in relationships and gold is gifted. In the tax year doner gifted and donee received and proper disclosure in tax and wealth statement. Since its not a cash gift and a gift related to movable property and there is no banking channel involved will the gold be treated as Income from other sources and be taxable?

[@ieshahkamalbutt]

Same query

[@mianmehmoodulhaq3518]

Ma sha Allah sir

[@amynfarooqui]

Salam. If co-operative housing society appt already transferred 2 years back and parent not ntn filer, then what can be done now? The property has not been declared by son yet in FBR but wants to declare.

[@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

[@asdvlogs007]

Great

[@taxationistcorporateconsultant]

Thanks.

[@mshahidarshad]

Assalam Allaikum sir. Very informative. Thanks. 1 que.. Should the Gift DEED be uploaded to Attachments? KINDLY REPLY

[@asdvlogs007]

Good luck

[@TheSohail1977]

Please clarify other in wealth statement inflow and outflow.

[@shazsheikh1426]

Agr parent koi national saving certificate aap k name purchase kr k gift kry to usko kesy reconcile kry wealth statement may

[@taxationistcorporateconsultant]

Gift deed bna lain..

[@ammarali99]

Aoa sir gift item immoveable property pr koi tax ho ga ke nai

[@ahsanulhaqhashmi9408]

Sir hamdard university ki taraf se meri bati ko 50000 scholarship ke mile han jo mare account ma transfer hue han . usko konse head mein declare karengey?

[@zahidiqbal-em7jc]

Sir, agr kisi friend ko gift bhejna chahay? kya bhej sakta hai please rehnumai farmaey ?

[@Jjr-sk7vr]

Marriage par milna walay cash gift(salami) par income tax apply hota hey, jis tarhan normal cash gift par hota hey,degar marriage gifts ka bi batain

[@amanalam7866]

Gold ki kesy seed kary,,,, ager parents say shadi par gold gift milta he to kesy treat kary,,,,or iski value kia likhyyy

[@alhusnaintraders9965]

Gift of plot to son , also requirement donor is ntn holder

[@amanalam7866]

Shadi par jo gold jewelry larki sath lati he us ko kesy deal kary gy

[@muhammadismail2139]

First you video for gift good and my question is gift transfer to son other country what is the declareation In return.

[@taxationistcorporateconsultant]

Same as for within county

[@kingdomkhan1O3]

sir tax consultant account kasy create ho ga when I can file return our clients and check through our FBR account

[@RJ.Ahmed90]

How much charges on property transfer to heirs if owner (father) is died?

[@MaqsoodAhmed-o6r]

Dear Sir, Can we file 50% of available amount as gift in wealth of both, in case of joint account holder. Wherein both are filer

[@AlEx-qj3de]

FATA KP villagers are not taxable nor NTN filers, they have farm animals, poultry, agricultural produce and precious metals gold silver copper, wood trunks, etc And keep gifting to various kids, grand kids, nephews, neices, etc, They can give affidavit notarized, but do not have 'Filer records" in villages, many of which are no Electricity, no gas, no water supply, no road etc Also many old transactions are on signed stamp paper only.

[@kajubadaammix]

Termination benefit me PF and gratuity ki amount ka kese treatment krna he ?

[@TheAKL77]

If gift giver ad been declaring immovable property at historical cost, what value should the gift receiver declare it at? Current market value or historical cost? Capital Gains Tax will be higher if historical cost is declared.

[@mnasnoman]

Thank you sir for the detailed information, can you please make one video for Layer/Broiler forming, Animal Feed, and Breeder farming.

[@taxationistcorporateconsultant]

Will try

[@Asp1287]

What if i receive a cash gift bt havent met the conditions of banking channel & ntn requirement. Will this still be considered my gift & white money if i pay taxes on it by inserting the value in invome from other sources. Thanks

[@MuhammadBilal-tl8li]

Sir kindly guide kr dein k immoveable property(plot) as a gift declare kia tha 2020 tax year ma As plot was made transfered from elder brother Didn't got any email or notice but want to know that how to make deed for gift and also donor is not registered with FBR or without NTN

[@middleboy8963]

Mortgage property. Where declare in wealth statement. Either bank loan amount can be declare in other receives . remaining bank loan incld interest will be declare as liability .plz guide me

[@tahirh952]

Good video Sir. Sir Relative se paisy lena dena, as audhar per, ye kese enter karein return main?

[@taxationistcorporateconsultant]

Loan.

[@tahirh952]

@@taxationistcorporateconsultant sir where to enter in Iris, when I receive the udhar money from my relatives,

[@udharam3402]

Doner makes gift through cheque but doesn't declare in wealth reconciliation because he did declare Said Bank account. Effects on doner and donee.what extent

[@haleemburiro]

Father ne ek house buy kia 2018 me , bete ko gift kia 2024 me. Agar beta 2025 me sale kare to Calital gain ke hisab se holding period 1 year count hyga ya 7 years? Kion ke house same family holding me he ? Please guid any one .

[@TheKhambaty]

What happens if I have NTN and gift my property to my son who is not in pakistan and don't have NTN number Please advise

[@MuhammadBilal-tl8li]

@taxationcorporateconsultant Sir kindly guide kr dein k immoveable property(plot) as a gift declare kia tha 2020 tax year ma As plot was made transfered from elder brother Didn't got any email or notice but want to know that how to make deed for gift and also donor is not registered with FBR or without NTN

[@kamranbaig3102]

Aslaam wa Alaikum Sir agar koi mother apnay son ko and sister apnay brother ko apni inherited property gift krein or mother and sisters non filer ho JB k receiver filer ho or gift mein milnay wali property mein khud bhi inherited co sharer ho Yani jis wrasat mein wo property mother ko apnay husband and sisters ko apnay father ki wrasat mein Mili usi wrasat mein receiver ko apnay Walid say wrasat mein Mili to Kya aisa gift valid hai? Ya mother and sisters ka filer hona must hai Kyu k mother and sisters house wife's hain or un ka koi personal source of income nahi hai isi liay wo non filer hain.

[@accablues]

thanks for the informative vid... i have question regarding gift... purchased plots in son name cash transfer to son 5m remaining amount paid directly by parent 1. is this a gift? 2. gift deed current date m banva saktey heyn? coz gift deed ka rule nahi pata thaa declared on both parent and son tax returns plz respond.. thanks

[@muhammadwaqas9787]

inheritance money pe tax tu nahi hota?

[@asadfaruqbuttar5264]

What's about immovable gifts?

[@muzamilyaseen9638]

gift in gold ko kaisy handle kr gy ?

[@TaxTalks122]

Thank you Sir

[@taxationistcorporateconsultant]

Thanks 😊

[@bilalchughtai6057]

Assalam o Alaikum What is the status of gift received from the Employer? Is it exempted from Tax?

[@jnokia2303]

AOA, Kia gift denay walay aur lenay walay dono Kay liay filer Hona zaroori hey ya sirf denay walay ko filer Hona kafi hey

[@uniquemarketing8685]

both

[@Artandcrafttheartist]

سر میں فائلر ہوں بینک پرافٹ پر گزارہ ہے میں نے نان فائلر بہن سے 3لکھ بطور گفٹ لئے بزریعہ چیک کیا ان 3 لاکھ پر ٹیکس لگے گا یہ چھ لاکھ سے تو کم ہیں اور کوئ زریعہ آمدن نہیں. اگر میں بہن کو 3لاکھ دوں تو کیا ہوگا؟

[@moooonkhan]

Sir what's procedure follows in filing return 2022 if a person get a house from his father (not gift, its inheritance property).

[@naseerahmed746]

Inheritance me treat Karen ge

[@qazifahad7744]

Aoa.. sir Is there any max amount cap that can be given as gift?

[@taxationistcorporateconsultant]

Ni Sir no such limits

[@CapitalTrendsGroup]

What about gift to wife who is not a filer.

[@Angel-zi8pg]

Agr gift lenay aur denay wala dono fbr se register na hon then ????

[@uniquemarketing8685]

khamooshi...😂 and dua

[@shafeeqahmadchaduhary2946]

good information. Please let me know what type of amount could be entered in column Others 7048.

[@mbqamar7892]

Sir very informative vedio 🎉. Sir aap ko gruop main join karnay k liay request beji hui laikin aap WhatsApp group mai shamil hi nahi kartay. sirf keh detay hain k group join karain. This is not fair.😢

[@taxationistcorporateconsultant]

You are right brother, apologies in this regard. plz message again. IA.

[@ayeshasaddiqa7923]

What about cash gift from relative

[@muhammadejaz2143]

sir; the work Gift in the return of GIFT GIVER ; should be disclosed

[@kinzanoor1762]

Agar ma gratuity from government organisation ko as a gift show karo to ma gift deed kasay banwao gey

[@uniquemarketing8685]

already exempted..declare at proper place..no need to show gift.

[@naumanayub1348]

How to enter new car in income tax returns as gift to my wife.

[@imaginefmk]

Last year I have put "0" against the inheritance property. Should I add the market value now or keep it "0". Because when I am putting MV, then there is a huge difference between last year and current year Assets. Will this be an issue?

[@mytaxpk]

You must show market value. Then, show the same in inflows (other)

[@udharam3402]

7:08

[@AlEx-qj3de]

FATA KP villagers are not taxable nor NTN filers, they have farm animals, poultry, agricultural produce and precious metals gold silver copper, wood trunks, etc And keep gifting to various kids, grand kids, nephews, neices, etc, They can give affidavit notarized, but do not have 'Filer records" in villages, many of which are no Electricity, no gas, no water supply, no road etc

[@wazabb58]

I received an amount in tax year 2017 , being sale proceeds of a plot in my mothers name. The amount was in the form of Bankers cheque which was deposited in my bank account. The amount was righty declared in my wealth statement yr 2017 as Gift. The Fbr has sent notice and assessment under section 122 (1) in the current tax year 2023 and has sent notice to pay tax under sec 137(2). I have all the documentation pertaining to the piece of land ,Family registration certificate (Nadra). However , my mother being a pensioner ,of old age and a widow has never been a tax filer although she holds a valid CNIC. Please Advise.

[@taxationistcorporateconsultant]

present all the available documents to the officer along with gift deed.

[@space-y9t]

same. but the amount is directly deposited in my account by the purchaser of plot. what u suggest

[@space-y9t]

what is outcome

[@SherazKhan-hf2xd]

Is tax is applied on gift from my parents

[@taxationistcorporateconsultant]

Ni, if properly transferred.

[@yasssgeneralstore4223]

Assalamualikum Sir I need your guidance about a problem... My father had gifted me a two storey building in 2019 which I declared in my fbr return in year 2020 with value zero. Now should I keep that entry same or I can declare that property with actual market value as per registry 77 lacs?

[@uniquemarketing8685]

if father declared this property in his wealth..then u can revise ur wealth with the same value which father declared in his wealth.

[@yasssgeneralstore4223]

M​y father was not filer. Then what shouldi do now?@uniquemarketing8685

[@Accountant2023]

جہیز میں جیولری کی کیا ٹریٹمنٹ ہوگی

[@miansaeed2001]

جس شخص سے قرضہ لیا جائے کیا اسکا Ntn اور فائلر ھونا لازمی ھے ؟

[@abdulbasit-cn9ek]

قرض دار کو قرضے پہ ٹیکس دینا ہوتا ہے؟

[@MuhammadAhmad-hc2bh]

Can father in law gift son in law

[@qamarkhan2173]

Can we receive cash as inheritance?

[@uniquemarketing8685]

yes through proper channel.

[@qamarkhan2173]

@@uniquemarketing8685 please eleborate what is proper chanel for it.

[@muhammadismail2139]

Incase gift to son but son not resident he is settled in UK and gift send to through Remittance not NTN son

[@muhammadsaadabubakar8388]

IF WE HAVE PREVIOUSLY MENTIONED A PLOT IN THE WEALTH STATEMENT VALUED AT 00000 PRICE AND THEN WE CONSTRUCTED A HOUSE ON IT THROUGH SAVINGS OR FOREIGN REMITTANCE HOW WE CAN UPDTE IN THE WEALTH STATEMENT OF NEXT FINANCIAL YEAR > OPTION 1 : SHOULD WE DELETE THE PLOT AND ADD A HOUSE WITH 11111 PRICE oPTION 2: WE JUST CHANGE THE VALUE OF PLOT TO 111111 pLZ GUIDE:

[@shakilghani5757]

کیش گفٹ پر ٹیکس لاگو ہوتا ہے؟

[@taxationistcorporateconsultant]

Yes.

[@relaxingnlearning5191]

Khurram Sb..... Assalam o allykum........ What if donor is not resident???? Will it still be considered as other income?

[@ammarali99]

Ya pir exempt from tax hai

[@kamalnadeem]

میں اپنی بیتی کو نقد رقم گفٹ کرنا چاہتا ہون. میں زیادہ سے زیادہ کتنی رقم گفٹ کر سکتا ہوں. میں اور میری بیٹی دونوں فائلر ہیں. اس صورت میں مجھے کتنا تیکس دینا ہوگا.

[@MuhammadAli-tu9bi]

Aoa sir... Any case law of higher authorities if banking channel is not used for cash gift? The other condition of ntn is fulfilled though.

[@MuhammadAli-tu9bi]

In favor of tax payer😋

[@taxationistcorporateconsultant]

😜

[@saqibjee]

جو پیسے کسی کی مدد کرنے کے لیے رشتے دار بینک میں ٹرانسفر کرتے ہیں اس کا شمار کس کھاتے میں ہوگا؟ مجھے میرے عزیز لوگوں کی مدد کے لیے اندرون اور بیرون سے فنڈ ٹرانسفر کرتے ہیں

[@riazmastoi]

Can cash amount be received from parents as gift... Through banking channels... Will it be a valid gift.... If father is not NTN holder... FOR giver of the gift only NTN is required or he should file his return and show gift in outflow...

[@taxationistcorporateconsultant]

NTN is necessary for gift giver..

[@MuhammadIrfan-gr7cj]

Musharraf ka tax ordinance to much complicated

[@muhammadamar4668]

Will uncle qualify as relative as per section 85(5)?

[@Tariq-f1x]

If donor is already taxpayer while donee was not taxpayer at that time but having bank account, and become taxpayer afterwards in the same tax year then it is acceptable by fbr. Amount was transfered by banking channel and also created deed. Regards

[@uniquemarketing8685]

ok...hay

[@bernard8015]

ᴘʀᴏᴍᴏsᴍ 🌈

[@ejazahmed6328]

In Gift to son whether WHT U/S 236C & 236K is applicable wef July 01, 2024 ?

[@uniquemarketing8685]

no