03-08-2011, 04:49 PM
I am willing to declare my income under 153(1)c, But income tax ordinance says that contract of rendering services cant come under this clause.
Only thing that rescue me is the definition of services as per ordinance, which does not include teaching)
11[ ] services includes the services of accountants, architects,
dentists, doctors, engineers, interior decorators and lawyers,
otherwise than as an employee 12 [.]
But someone told me that above defination is not a comprehensive defination. If the following words had been used "services mean", instead of "services include", we could have treated it as a comprehensive defination and treated visiting faculty teaching under 153(1)c contracts.
What shall i do?
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by LapTop</i>
<br />Imran bhai,,
Ap agar apni income ko jo visiting faculty Member ki hay 500000 usy 153(b) conceder karyn gay to ap bilkul theek calculation kar rahay han,
Ye 500000 ap ki salary income may add ho jaye gi, or ye ap ki business income kahlaye gi,
Ab chunky ap ki salary income ap ki total income k 50% say zayada hay is waja say tax rate salary income ka apply ho ga.
Is tarhan ap ki total taxable income 1500000 ho jaye gi,
Jis par tax rate 12.5% lagy ga agar marginal relief layn gay to tax 179500 bany ga.
1000000 par ap ka tax 90000 withheld howa ho ga
Or 500000 par 6% k hisab say 30000
Yani k ap ka total tax 120000 withheld howa
Ab ap ko 59500 mazid tax ada karna pary ga.
Jabky agar ap apni visiting faculty Member ki income ko 153 (c ) declare karyn gay to ap ko koi mazid tax jama karwany ki koi zarorat nahi ho gi.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Only thing that rescue me is the definition of services as per ordinance, which does not include teaching)
11[ ] services includes the services of accountants, architects,
dentists, doctors, engineers, interior decorators and lawyers,
otherwise than as an employee 12 [.]
But someone told me that above defination is not a comprehensive defination. If the following words had been used "services mean", instead of "services include", we could have treated it as a comprehensive defination and treated visiting faculty teaching under 153(1)c contracts.
What shall i do?
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by LapTop</i>
<br />Imran bhai,,
Ap agar apni income ko jo visiting faculty Member ki hay 500000 usy 153(b) conceder karyn gay to ap bilkul theek calculation kar rahay han,
Ye 500000 ap ki salary income may add ho jaye gi, or ye ap ki business income kahlaye gi,
Ab chunky ap ki salary income ap ki total income k 50% say zayada hay is waja say tax rate salary income ka apply ho ga.
Is tarhan ap ki total taxable income 1500000 ho jaye gi,
Jis par tax rate 12.5% lagy ga agar marginal relief layn gay to tax 179500 bany ga.
1000000 par ap ka tax 90000 withheld howa ho ga
Or 500000 par 6% k hisab say 30000
Yani k ap ka total tax 120000 withheld howa
Ab ap ko 59500 mazid tax ada karna pary ga.
Jabky agar ap apni visiting faculty Member ki income ko 153 (c ) declare karyn gay to ap ko koi mazid tax jama karwany ki koi zarorat nahi ho gi.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
