Withholding Income Tax V/S Time of Payment | When we need to pay Withholding Income Tax | FBR |

WhatsApp link for further details of Practical Taxation Course
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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-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
#saletaxincometax

[@FaizanKhan-ct2tc]

Good

[@syedmobeenulhassan5633]

Fbr 122 Notice order to close amendment Kia matlb hai janab salam JzakAllah Shukareya

[@MuhammadSaadKhan-c7c]

If total billing is included with advance tax 15% (Telecommunication), what WHT rule is applicable either we withhold Income tax on the total billing invoice inclusive advance tax or before advance tax amount , please share reference

[@waseemlimbaliya6196]

Could you pleade guide us if there is an arragement of partial payment to vedor/supplier then how we deduct and deposit witholding income tax and witholding SST/GST ?

[@faheempracticallearning]

Same rules, follow transection date, for sales tax withholding check lectures of sales tax

[@aamiralikhan1199]

According to Section 153 if my turnover is less than 100 million but purchasing item from one vendor is greater than 75000 in a year then do I need to withheld his income tax?

[@faheempracticallearning]

No, because your not withholding agent.

[@aamiralikhan1199]

@@faheempracticallearning thanks!

[@zohaibalvi5390]

Section 153 states that deposit grounds will be bank debit ?

[@faheempracticallearning]

Transection date

[@BBA739]

Sir when asset purchased on 01.03.2023 of Rs.100,000/- and tax withheld 4.5% . If two cheques issued one for 01.03.2023 and other cheque for 01.04.2023. In this condition tax will deposit in march or April? Thanks.

[@faheempracticallearning]

Same discussed in lecture, when actually payment deducted from your bank, after that we will deposit tax.

[@MuhammadSaadKhan-c7c]

@faheempracticallearning sir simaltenously Tax challan month April and Fiscal Year 2023 is selected while creating a challan am I right

[@MuhammadSaadKhan-c7c]

​@@faheempracticallearningsir secondly what will we do if deduction is made on June and payment is realized In July but the budget has changed FY 24 to the rate as done in 2024 which Month is being selected

[@MuhammadSaadKhan-c7c]

Kindly respond

[@MuhammadSaadKhan-c7c]

Please respond

[@ahsantanveersheikh4272]

Sir tax accountant k liye to mazeed mushkil hojayega Kya ye zyada relevant nahi k wo jis date ki payment entry hai us se 7 days mein submit karday. Ya bechara bank statements k sath tally kar kar k andha hojaye ? 😂

[@faheempracticallearning]

No, can be possible, but bank statements must be reconciled

[@MuhammadSaadKhan-c7c]

​@@faheempracticallearningagar hum transection date Ka hisab sa challan banaye ga to vendor issue Kara GA kya Ka apna to 1 month pehla payment ki thi ar ap aga Ka challan bana Raha hai Dosra yeh hai withholding payment Ka challan ma wohi month select Kara GA jis mahina payment Nikli hai bank sa?

[@MuhammadSaadKhan-c7c]

@faheempracticallearning vendor ko kya Jawab da koi clause available hai

[@faheempracticallearning]

@@MuhammadSaadKhan-c7c when withdraw from your bank, this is transaction date

[@MuhammadSaadKhan-c7c]

@@faheempracticallearning noted clause available hai kindly share for my reference

[@muhammadsuhailhingora910]

Assalamu alaikum Would you please like to discuss Active Taxpayer List (ATL ) senior

[@faheempracticallearning]

Yes this also we need to check, but as in the start of the lecture we assum this vendor is filer