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+--- Thread: Days for deposit of tax under Sec 153 (/showthread.php?tid=8418)
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Days for deposit of tax under Sec 153 - Information Consultant - 07-25-2010
Dear Members
Pls update me how many days required to deposit tax in bank deduct u/s 153? I will appreciate if sec number or rule is also mentioned
- hashijat - 07-25-2010
The tax deducted at source should be deposited within 15 days of deduction.
- LapTop - 07-25-2010
where the tax has been collected or deducted by a person other than the Federal Government or a Provincial Government, by remittance to the Government Treasury or deposit in an authorized branch of the State Bank of Pakistan or the National Bank of Pakistan, within seven days from the end of each fortnight.
Is ka matlab ye hay k har ik week ki payments aap alayhda alahda karyn gay each fortnight say murad one week hoti hay, jab week mukamal ho jaye ga to us k baad aap k pass 7 din hon gay us week ki payment jama karwany k liye,
- Anfal Shabbir - 07-27-2010
let me clear one thing is that fortnight is a period of fourteen days not 1 week
Anfal
- Marium Khan - 07-27-2010
As per my experience, tax deducted at source should be deposited within 7 days over the period in which deduction has been made,it means if u want to deposit payment of 1-15 dayz it can be deposited upto 22nd of that month but if u want to deposit last 15 dayz payment, it can deposit upto 7 days of the next month,let me correct if i m wrong?
- LapTop - 07-27-2010
Anfal bhai,
Mujhay correct karny ka shukriya, 1 fortnight is equal to 14 days. 14 din may jo withholdings hon gi unhay jama karwany k liye aap k pass next 7 days ka time ho ga.
- olympia - 07-27-2010
Laptop It means payment made between 1st - 15th need to b deposite by 22nd?
or payment made between 1st - 7th need to b deposite by 14th?
- olympia - 07-29-2010
ok
but some people say that it means payment made in one week need to b deposited in next week.............
is this right??????????
- LapTop - 07-29-2010
Payment time ki maximum limit hay ye, ap roz k roz jama karwa do ap par koi penalty nahi lagy gi, par agar aap nay maximum limit say zayada late kiya to penalty lagy gi,
- olympia - 07-29-2010
i know k hum roz k roz bhi deposit kerwa sakte hain.................
tell me how much penalty imposed if not deposit the tax timely?
- LapTop - 07-29-2010
Any person who fails to collect or deduct tax as required under any provision of this Ordinance or fails to pay the tax collected or deducted as required under section 160.
Such person shell pay penalty of twenty five thousand rupees or the 10% of the amount of tax whichever is higher.
- olympia - 08-13-2010
Laptop the payment time of WHT is changed by this SRO
In SRO # 392(1)2009 dated 19th May, 2009.
"in rule 43, in clause(b) for the word "seven days from the end of each fortnight" the word Seven days from the end of each week ending on every Sunday" shall be substituted;"
- LapTop - 08-13-2010
ary wah Olympia baji,,,,,,
lagta hay aap nay pharna sharo kar diya hay, tabhi to meri ghalti pakar li aap nay,,, hahahahahahahah
ji ap nay sahi likha hay, "seven days from the end of each fortnight" the word Seven days from the end of each week ending on every Sunday"
yani k 1 week ki payment next week k undar undar jama karwani hay.
- olympia - 08-16-2010
g aisa hi he......... so b careful
- LapTop - 08-16-2010
hahahahahaa, Is ka matlab kafi mohtat ho kar ab to ap say baat karni pary gi,,, wasy ye meri ghalti thi , par Inshallaha ab nahi ho gi,, kyon k may nay Income tax rule mukamal update kar liya hay ab,,, hahahah