08-14-2009, 10:04 PM
Dear Wsafca,
In this case, no tax will be deducted from his salary, since his yearly salary is below the threshold provided under section 149.
However,summarily, as per Income Tax Ordinance 2001, if his yearly salary has exceeded the threshold then he will be required to pay tax.
If the said person has earned Rs. 150,000 in the last 6 months of a specific tax year then it is important to ascertain whether what has been his earnings in the first 6 months of that year?
If he has no earning in the first six months then no tax shall have to be paid.
If, however, he has earnings, which makes his total earnings by more than 200,000 then tax will be deducted, in this regards, if earnings of the first 6 months is more than 50,000 then he shall have to pay tax as his yearly income shall exceed the threshold.
Queries will be appreciated.
Best Regards
In this case, no tax will be deducted from his salary, since his yearly salary is below the threshold provided under section 149.
However,summarily, as per Income Tax Ordinance 2001, if his yearly salary has exceeded the threshold then he will be required to pay tax.
If the said person has earned Rs. 150,000 in the last 6 months of a specific tax year then it is important to ascertain whether what has been his earnings in the first 6 months of that year?
If he has no earning in the first six months then no tax shall have to be paid.
If, however, he has earnings, which makes his total earnings by more than 200,000 then tax will be deducted, in this regards, if earnings of the first 6 months is more than 50,000 then he shall have to pay tax as his yearly income shall exceed the threshold.
Queries will be appreciated.
Best Regards
