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+--- Forum: Tax (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=8)
+--- Thread: rent (/showthread.php?tid=1511)
rent - maani - 01-02-2005
rent is taxed under property and
the law also states that it is taxable under income from other sources...
kia karna chahiye....
Ace
- n/a6 - 01-03-2005
under Uk laws Rent is taxed under Schedule A for Companies....
Thanks........
Happy New Year
- maani - 01-03-2005
what is the Schedule A....
Ace
- maani - 01-03-2005
i think this would be a point where the two laws have differences...
Ace
- n/a6 - 01-03-2005
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what is the Schedule A....
Ace
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yes thats a differense btw Pakistani and Uk Taxation...
in for Company Taxation Income is taxed under various different Heads.....
Schedule A--- Rent and Income From Property is accessed here.
Schedule D1-- Icome From Trade.......
Schedule D 2-- Vocational Income....
Schedule d 3-- Interest
Schedule d 5-- Overseas Divident....
While Divident from Uk subsidary is known as Franked Investment Income ( Gross).............
Thanks........
Happy New Year
- Ali Akbar - 01-03-2005
AOA
Rent is charged under the head Income from other sources in the following cases
In case of Sub Lease
In case of giving property on rent ALONG with OTHER property e.g along with machinery.
- n/a6 - 01-04-2005
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AOA
Rent is charged under the head Income from other sources in the following cases
In case of Sub Lease
In case of giving property on rent ALONG with OTHER property e.g along with machinery.
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And if rent is because of Trading purposes then it is Taxed under
Schedule D Case 1........
Thanks........
Happy New Year