Dear Mr. Lap Top
I had made my computation on this basis and taken motor vehicle provided by the employer to employee and included 5% of cost or fair market value for the year as the law is silent or might be possible i ignore any aspect which i might not know
If you have any reference other than this rule or any clerifiaction from any body corporate you will let me inform i will accept your comments and suggestions or any practice of any firm filling returns on behalf of employees
Thanks and regard
Zaheer Iqbal
Mr. Zaheer I know & understand Law better then you, thatâs y I asked to u some questions/scenarios, u think & understand,
âSalary is chargeable to tax on the basis of what is actually received during a tax year. This means that if the employer actually makes payment of salary of eleven months in a tax year, then the employee is liable to tax on the salary for eleven months. Similarly, if in the succeeding tax year the employee is paid salary for thirteen months he/she will be liable to pay tax on the salary for thirteen months.â
If u understand para above mention, it is against justice, An employee enjoying a facility providing by employer for 6 month & FBR collect tax on that amount for 12 months.
I had asked any clerification related to this para, not the justice
As you have mentioned there for 11 and 13 month salary that you are originally focusing that salary is taxable on receipt basis as employee receive car benefit during the year then it is taxable at the rate of 5%
oki ji na mano, mujhay koi shok nahi hay tum say bahas karny ka,,, jo marzi karo,,, FBR ko to nuksan ho ga nahi is say, unhay to Tax zayaza mily ga,,, is liye wo khushi say wasool kar layn gay...
DEAR MEMBER
I AM ALSO IN NEED OF THIS MY ID IS AS FOLLOW-
wasimhanjra65@gmail.com
If anyone have Excel sheet for calculation of Income tax on Salary for the year 2008-2009 for Pakistan Stream. Please send me on umarlibra@yahoo.com with thanks.
I sent u all, if u have to ask any quarry u can ask, u can mail me at sahrai01@hotmail.com
The sheet sent by Mr. Sahrai is very much usefull and productive than I had sent to you people. Although I have some querries relating to that sheet and I had mailed those querries to Mr. Sahrai and hopefully I will get the response from him.
It Is necessary to inform u all that, Plz correct one mistake on worksheet sent by me, at Cell No. E224, formula is =IF(F232="yes",F235,0) , Plz change it as =IF(F232="yes",F234,0)
I have asked some Stupid questions above,,,,, now I am solving that,
An employer hire a car monthly rent 30,000/= and allot the same an Employee Mr. A for 6 month and after that the same car allot the Mr. B for 5 month for partly office & private use.
U should add 5% of car cost to the employee income,
Mr. A-
30,000 X 5% = 1500 par month
Mr A used this car for 6 months, 1500 X 6 = 9000
Add 1500 Par month into monthly income or Add 9000 into annual Taxable income.
Mr. B
30,000 X 5% = 1500 par month
Mr A used this car for 5 months, 1500 X 5 = 7500
Add 1500 Par month into monthly income or Add 7500 into annual Taxable income.
IF
An employer Purchased a car, cost 500,000/= and allot the same an Employee Mr. A for 6 month and after that the same car allot the Mr. B for 5 month for partly office & private use.
U should add 5% of car cost to the employee income,
Mr. A-
500,000 X 5% = 25,000 for the Tax Year
25,000 / 12 = 2083 par month
Mr A used this car for 6 months, 2083 X 6 = 12500
Add 2083 Par month into monthly income or Add 12500 into annual Taxable income.
Mr. B
500,000 X 5% = 25,000 for the Tax Year
25,000 / 12 = 2083 par month
Mr A used this car for 5 months, 2083 X 5 = 10417
Add 2083 Par month into monthly income or Add 10417 into annual Taxable income.
In accordance with the guidance embodied in Circular No. 18 of 2004 dated August 9, 2004, every employer, while deducting income tax on the income chargeable under the head âSalaryâ of its employees, is allowed to make such adjustments, as may be necessary, for any excess deduction or deficiency arising out of any previous deduction or failure to make deduction during the Tax Year under the provisions of section 149 of the Income Tax Ordinance, 2001.
I would appreciate if any one could send the same to me on my email address naveed.munawar@cityfm89.com
Thanks & Regards,
salam 2 all,
kindly someone send me computation of salary income worksheet at my mail add as under.
mramzan_pak@yahoo.com
i shal very much appreciate it.thanx
Hellow Everybody! Will anyone send me excel sheet showing detailed calculations of income tax of an individual salary,preferably governmetn official on the email address cologne25@hotmail.com. I will be very much thankful.
Kindly send me the sheet regarding tax calculation at my id touqirkayani@gmail.com