Deduction of Income Tax u/s 153

[hashijat]

What is the maximum amount of a transaction on which income tax is not required to be deducted while making payment to someone.

[LapTop]

The monetary limit of exemption from deduction of tax from payments account of supply of goods has been raised to Rs. 25,000/-. Previously the laid limit was Rs. 10,000/- as notified vide SRO. 586(I)/91 of 30th June, 1991. In respect of payments made on account of services rendered or execution of a contract, the monetary limit of exemption shall be Rs, 10,000/-. Now withholding tax shall not be deducted from the aforesaid payments unless such payments exceed Rs. 25,000/- in the case of supply of goods and Rs. 10,000/- in the case of services rendered or execution of a contract, in a financial year. However, if such payments exceed the above monetary limits during a financial year, then tax shall be deducted from all payments exceeding the said limits. Tax shall also be deductible on all such payments made earlier from which no deduction of tax was made.

[Marium Khan]

Laptop I want to check this exemption limit

[LapTop]

kaysy check karna chahyn gi??????????????????? hahahahaha

[LapTop]

http//www.fbr.gov.pk/newdt/circulars/1991cir26.pdf

[Information Consultant]

yar wo tum say pooch rhi hay tum tafrih kar rhay ho anyways tumhara dya hua link baray kam ka hay

[Marium Khan]

Offcourse circular regarding Exemption of tax deducted at source

[Marium Khan]

Why exporter can't deduct tax at source,will u plz explain?

[LapTop]

Double Taxation ho jati hay na is liye exporter deduct nahi karta

[Marium Khan]

Double Taxation kyun?Sory bt mugy to Tax ki ABC bi nai ati to mugy to detail mn clearification chahiay hoti hai

[ciapk]

Double taxation mean idhr exporter tax deduct kr laita hay importer sy or jb next country main pohnchta hy tu us country main deduct ho jata hy tu importer baychara 2 bar tax kiun day ga, so is maqsad k liay countries ki apas main double taxation avoid krnay k liay treaty hoa krti thi shaid, kiun bhai laptop? -)

[Marium Khan]

Can u give me any example?

[ciapk]

http//www.fbr.gov.pk/newdt/TaxTreaties/Defualt.asp

Pakistan has avoidance of double taxation treaties with above mentioned countries details of tax avoided by such treaties vary country to country so you have to find out the example on above link

[LapTop]

Marium,,,,,,
May mazak kar raha tha, hahahahahaha
Daykho jab aap koi item export karo gi to aap payment karo gi nahi balky wasol karo gi, or jab payment wasol karo gi to aap to deduct kar nahi sakti na, hahahahahah

Or CIAPK bhai aap bhi na or confuse kar diya na marium ko, hahahahahahaha

[ciapk]

Main ny double taxation ko define kia hy -)