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Flood Surcharge Tax - Printable Version

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Flood Surcharge Tax - olympia - 07-05-2011

Attn Laptop, info and other forum members

Flood surcharge tax is applicable till 30th June, 11. Now we are going to pay June's salary to the employees on 6th, July, 11. Does this surcharge is deductible from the salary of June as the payment date is 6th of July, 11 and Flood surcharge is applicable till 30th June, 11.Ur early response is appreciated.

- Kasim - 07-05-2011

as u r paying june salary so u r to pay surcharge on it too
(was surprised to see this sort of question from u)
hope so gov will recharge it

- Kasim - 07-05-2011

3. APPLICATION OF 15% Surcharge on payable income tax
a) Salaried Persons – Deduction u/s 149
The employers will deduct the 15% surcharge on the income tax payable
on portion of the <b>salary pertaining to the period starting from 15th March
2011 to 30th June 2011. </b>
b) Other Withholding Tax
All withholding agents will deduct 15% surcharge on the <b>income tax
payable on payments from 15th March 2011 to 30th June 2011.[b]
c) Advance Tax Payment u/s 147
The tax u/s 147 due from [b]15th March 2011 to 30th June 2011.</b>
4. Time of Payment of 15% Surcharge on payable income tax
15% surcharge on payable income tax must be deposited at the time of
deposit of the tax.

- olympia - 07-05-2011

thnks y u r surprised. kabhi kabhi ho jata he maine foran hi procedure parh lia tha or tax ka cheque sign bhi ho gaya he isi calculation pe. so don't b surprised

- student_of_law - 07-08-2011

FBR clarification on this matter can be found at the following link