Accountancy Forum

Dear LapTop,

Firstly, thank you for creating such a valuable topic.

Kindly give your guidance regarding following matters of withholding taxes
i. We usually withhold tax from suppliers and deposit it into bank manually, however now the bank says that from now onwards it will accept only computerized payment.We have now e-enrolled with fbr and shall be paid accordingly. The question is that if there is any time limit in which we have to deposit these taxes (withholding and income tax from employees)and if we fail to deposit within that specified time, then what is the % of penalty.
ii. What are the statements/returns are required in our case. I mean we withhold taxes from suppliers and deduct taxes from salaries of our employees.

thanking you and best regards,
iii.

43. Payment of tax collected or deducted.

(b) where the tax has been collected or deducted by a person other than the Federal Government or a Provincial Government, by remittance to the Government Treasury or deposit in an authorized branch of the State Bank of Pakistan or the National Bank of Pakistan, within seven days from the end of each week ending on every Sunday.

Any person who fails to collect or deduct tax as required under any provision of this Ordinance or fails to pay the tax collected or deducted as required under section 160.
Such person shall pay a penalty of twenty five thousand rupees or the 10% of the amount of tax which-ever is higher.



165. Statements.- (1) Every person collecting tax under Division II of this Part or Chapter XII or deducting tax from a payment under Division III of this Part or Chapter XII shall, furnish to the Commissioner a statement in the prescribed form setting out–

(2) Every prescribed person collecting tax under Division II of this Part or Chapter XII or deducting tax under Division III of this Part or Chapter XII shall furnish statements under sub-section (1) as per the following schedule, namely—

(a) in respect of the September quarter, on or before the 20th day of October;

(b) in respect of the December quarter, on or before the 20th day of January;

© in respect of the March quarter, on or before the 20th day of April; and

(d) in respect of the June quarter, on or before the 20th day of July.


Provided that every person as provided in sub-section (1) shall be required to file withholding statement even where no withholding tax is collected or deducted during the period.

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by LapTop</i>
<br />Hi Members,

agar kisi member ko NTN, Sales Tax Registration ya e-Enrollment k hawaly say koi problem ho to wo yahan share kar sakta hay, inshallaha problem solve ki jaye gi tamam members ki taraf say.
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DEAR,

I WANT TO KNOW THE BENEFIT OF NTN BUT KEEP IN MIND THE SITUATION OF OUR COUNTRY TAXATION SYSTEM,

KHALIL

Thank you dear for a quick response indeed.

Infact, i heard that its within 7 days from the end of each fortnight.
however, i one thing i wanted to ask you is that what is the penalty for late deposit of such taxes.

regards,

Any person who fails to collect or deduct tax as required under any provision of this Ordinance or fails to pay the tax collected or deducted as required under section 160.

Such person shall pay a penalty of twenty five thousand rupees or the 10% of the amount of tax which-ever is higher.

Thank you brother.

Dear All,
I need help regarding NTN.
We are working in a project of a non profit company having NTN . The company is registered under section 42 of companies ordinance as non profit company. For e-enrollment/register, can we get our own NTN in the name of Project?

regards,

Danish bhai,,,,,
Ap ka sawal kuch samajh nahi aaya,, thora detail may batayen.

Dear Farrukh Bhai.

Thanks for your support. Infact, we are working in a project under a non profit organization (formed under sec 42 of Comp.ordinance 1984). our working areas include all the 24 districts of NWFP(KPK). we used to deduct and deposit the withholding taxes in National Bank. Now NBP has refused to collect tax in this way and ask for e-enrolment (computerized system). Our organization head (CEO of that company) has suggested us to use our own NTN for this purpose. They are not interested in giving us the user name and password of E-filling. So my question was that weather it is possible for us to register new NTN for our project or use the old one.

Regards,

Danish Bhai,,
Jo withholding Agent hay wo hi withholding tax jama karwata hay, or wo hi withholding certificate issue kar sakta hay.

Agar ap k naam invoice hay or ap payment kar rahay hayn to ap hi withholding karyn gay ap hi jama karwayen gay or ap hi withholding certificate dayn gay.

Agar ap company k employee han, to invoice company k naam ho gi withholding bhi company kary gi or jama bhi company karwaye gi certificate bhi company issue kary gi, ap sirf us k behaf par ye sab kaam injam dayn gay, is waja say ID company ki use ho ga,

Aysa nahi ho sakta k invoice kisi or k naam ho, withholding koi or kary or jama koi or karwaye.

Mr. Laptop, I want to know about change in particulars. An AOP having 2 partners (Parnters have also their own NTN numbers) is registered for sales tax and Income tax. On of the partner died. Now the AOP remained no more an AOP. Now it becomes an individual so we wish to deregister the AOP from sales tax and wish to get the Sales tax number for the individual. If we apply for deregistration then it takes many months to deregister and many more months to register the individual for sales tax. In this process I have to sacrifice the refund of period concerned, because the work has not stopped. Please advice me with your special consideration.
Regards

Agar ap isi AOP ko continue karna chahty han to jis partner ki death hoi hay us ki jaga naya partner lay aayen, agar registered firm hay to partnership deed may amendment ho gi, phir change of particular ki application file ho gi FBR may.
Agar aap is AOP ko khatam kar k as individual kaam karna chahty han to ap ko cancelation ka tarikakar follow karna pary ga. Or as individual nai registration karwani pary gi.
Deregistration k process may thora time lagy ga, par new registration 15 din m ay ho jaye gi aap ki.

par masla to wohi hai na ke agar deregistration kerwa ke new registration kerwatay hain to us time period main jitna kam hoga us ka refund kaun day ga.

2 tariky han, first ye k ap pahly as individual registration karwa layn us k bad AOP ki de-registration karwayen.

Dosra tarika U/S 59 may darj hay.
59. Tax paid on stocks acquired before registration.--
The tax paid on goods purchased by a person who is subsequently required to be registered under section 14 due to new liabilities or levies or gets voluntary registration under this Act or the rules made thereunder, shall be treated as input tax, provided that such goods were purchased by him from a registered person against an invoice issued under section 23 during a period of thirty days before making an application for registration and constitute his verifiable unsold stock on the date of compulsory registration or on the date of application for registration or for voluntary registration
Provided that where a person imports goods, the tax paid by him thereon during a period of ninety days before making an application for registration shall be treated as an input tax subject to the condition that he holds the bill of entry relating to such goods and also that these are verifiable unsold or un-consumed stocks on the date of compulsory registration or on the date of application for registration or for voluntary registration.

agar pehla tareeqa use kertay hain to yeh crime hai.Ek tarah ke operations per 2 registration kerwana illegal hai.

Aur agar doosra tareeqa use kertay hain to deregistration ke jaisay hi application daitay hain section 59 ki application start ho jaye gi aur agar deregistration main 6 months lagtay hain to 1 month ka claim to ker lain gay section 59 ke tehet magar baqi 5 months ka claim kaun day ga