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tax treatment of foreign reciepts
09-24-2005, 02:11 PM,
#1
tax treatment of foreign reciepts
hi friends!i am a bit confused about the tax treatment of foreign reciepts as gift. for example a pakistani resident individual is a govt employee and has no other source of income;at the same time he recieves rs 50,000/month from his son who is serving in germany. i wanna know is that is the amount recieved as gift from a blood relative is taxable? f yes what is the tax rate applicable?

i am doing CA
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09-24-2005, 05:12 PM,
#2
 
hello guys ! where all of u are?i asked the question of tax treatment after 2 reading none of u replied.i wanna know the treatment coz i hav to complete the books of a comany.n yet tax not finalised.waaiting for ur replies.bye

you can contact the author at tahir.rauf@hotmail.com.author is doing inters in CA inters in DUBAI
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09-25-2005, 04:20 PM,
#3
 
Hello,

As per your stated situation there is no tax liability on the part of the recepient in paksitani tax laws.

massood ar.
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09-25-2005, 04:38 PM,
#4
 
hello massood! thank u for ur comment i had been anxiously waiting for the reply. as i,m practicing in UAE there is hardly any income tax in UAE that is why i was confused.


thnk u once again.ALLAH HAFIZ

you can contact the author at tahir.rauf@hotmail.com.author is doing inters in a CA firm in DUBAI
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