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+--- Thread: property tax (/showthread.php?tid=7171)
property tax - haseena - 01-12-2010
i want to ask if we r having income from other heads along with the property income, then property income will be taxable even if it is less then 150000?
- sensible - 01-12-2010
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by haseena</i>
<br />i want to ask if we r having income from other heads along with the property income, then property income will be taxable even if it is less then 150000?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
yes
- haseena - 01-12-2010
but in Synopsis of taxes in Pakistan by Mirza Munawar hussain, in numerical problems author has exempted the property tax when it is less then 150000
- LapTop - 01-12-2010
ye sahi hay k agar Other income hay to Rental Income Tax able ho jati hay agar 150000 say kam ho to, par yahan ik problem hay k agar rental income 150000 say kam ho to aap is par Tax rate kya lo gay kyon k first shedule may Upto 150000 tak tax rate NIL hay,,,,,,,,, is liye jab tak first shedule may Tax rate nahi diya jata aap koi Tax charge hi nahi kar sakty is rental income pay.
- haseena - 01-12-2010
some one told me 5% he charge ho ga even if 150000 se kum ha
- LapTop - 01-13-2010
Kisi k kahny say aap Tax rate nahi charge kar sakty, ITO may jo Tax Rate hay wohi layna pary ga, filhal NIL hay, jab FBR ko apni ghalti ka ahsas ho ga or wo NIL ki jaga koi Rate dayn gay to phir wo rate charge ho ga....
- faisal_desperado - 01-14-2010
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by haseena</i>
<br />i want to ask if we r having income from other heads along with the property income, then property income will be taxable even if it is less then 150000?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Dear,
Notwithstanding any thing in the ordinance or the facts revealed by others with regard to your query, please note that no tax will be withheld or payable in case of property income being lower than the threshold provided under section 15, since the property income is treated as a seperate block of income, it has no concern with the income earned under any other heads of income.
Had the property income been clubbed with other incomes then the taxability of property income (in case of Rs. 150,000) would have been prevalent.
Summarily, no tax is required to be paid in the case referred by you.
I hope you have been replied.
Best Regards,
- Muhammad Rehman - 01-18-2010
hi!
any one tell the list of rate through which we calculate tax on income from property according the 2010 year
Best Regard!
Muhammad Rehman
- faisal_desperado - 01-19-2010
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Muhammad Rehman</i>
<br />hi!
any one tell the list of rate through which we calculate tax on income from property according the 2010 year
Best Regard!
Muhammad Rehman
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Dear,
Rates have already been mentioned at the following thread.
http//www.accountancy.com.pk/forum/topic.asp?topic_id=7463
Regards,