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Submitting Income Tax Returns
11-02-2011, 07:05 PM
Post: #1
Submitting Income Tax Returns
Hi Accountancy and Tax Experts,

I am an IT professional and working in a software development company as Development Manager. Unfortunately it is not easier for me to absorb some concepts and requirements for submitting income tax returns so need your guidance and advice.

I received a sheet from our Account Manager which contains information of my annual taxable salary and the total tax company deducted from my salary for tax year 2010-2011. I have also got the tax certificate from my mobile phone service provider for the tax year. Now I am required to submit the tax return through the http//e.fbr.gov.pk. I am able to fill the income tax return form partially for salaried individual but stuck in some of the sections.
I have already entered the following information in the relevant sections

1- total taxable salary - (it automatically calculated and showed me tax amount)
2- total tax deducted from my salary (in Annex-B)
3- mobile phone tax (in Annex-B)
4- car token tax (in Annex-B)

Now I am confused regarding the following items

1- electricity bill (LESCO) -> how to find the per month tax amount from a utility bill? or should I contact LESCO for tax certificate?
2- telephone bill (PTCL) -> how to find the per month tax amount from telephone bill? or should I contact PTCL for tax certificate?
3- If your house is on rent or the meter/phone is not registered with your name then how to enter the tax information?
4- Suppose if after entering the deducted tax information in Annex-B for all relevant sections, you are still short in payable tax amount and you don't deposit the remaining amount, can it be balanced in next year tax returns or it MUST be submitted on time within this year's tax returns?

I hope these would be easier questions for experts so I appreciate and thank in advance for your time and answers to the questions.

Regards,
Yasir Khan
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11-02-2011, 08:25 PM
Post: #2
 
Dear Yasir,

Please visit the below link,

http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=9738.

Kind Regards,

Muhammad Umar Farooq
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11-02-2011, 09:17 PM
Post: #3
 
Thanks Umer,

The link was very useful and informative but I believe it still doesn't answer the following questions

I followed the whole discussion thread but it didn't answer
1- how to adjust tax against PTCL bill and how to adjust if phone is not at your name
2- what if after adjusting all withholding tax need to further pay as your employer has deducted less than you are actually supposed to pay
3- if you don't submit return by a deadline date then what happens?

Regards,
Yasir KHAN

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Muhamamd Umar Farooq</i>
<br />Dear Yasir,

Please visit the below link,

http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=9738.

Kind Regards,

Muhammad Umar Farooq
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
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11-02-2011, 09:59 PM
Post: #4
 
Dear Yasir,

Please follow the below link for your third question, rest will be answer soon.


http//www.accountancy.com.pk/forum/topic.asp?TOPIC_ID=11244


Kind Regards,

Muhammad Umar Farooq
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