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Cash Withdrawal (IT-3 Form)
07-05-2010, 02:59 PM,
#1
Cash Withdrawal (IT-3 Form)
Can someone plz tell what is cash withdrawal in IT-3 form????
and i have a mobile connection in my name, and i have paid tax on that... can i mention that in mobile phone bill??? what will be the benefit of it???
what is the overall benefit of IT-3 form???
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07-05-2010, 08:06 PM,
#2
 
IT-3 ki maksad ye hay k agar ik employee apny advance taxes adjust karvana chahta hay trough employer to wo IT-3 fill kar k employer ko dayta hay June may or employer bound ho jata hay k wo tax adjustment kary.

Agar ap mobile ya phone user hayn to ap ka advance tax deduct hota hay,

Agar ap car use karty han to jab aap us ka salana motor vehicle Tax jama karwaty han to us k sath bhi aap ka advance tax deduct ho jata hay,

Jab ap apny bank account say 24 ghanty may 25000 say zayada ki cash transaction karty han to us par bhi aap k advance tax deduct ho jata hay,

Agar ap new car purchase karty han to is par bhi aap k acha khasa advance tax deduct hota hay,

Ye tamam advance tax adjustable hayn against salary income k, par mobile, phone, bank account, or motor vehicle ap k naam par honi chayea,,

IT-3 fill kar k evidence k sath apny employer ko dayn. Evidence k liye mobile/phone company or bank say WHT deduction certificate demand karyn, or Motor Vehicle ka tax jama karwaty howay jo recipt aap ko mili ho gi wo hi WHT certificate bhi hay us may likha hota hay k kitna Income tax withheld howa hay.

Ye to then tax adjustment, is k ilawa aap tax credit bhi lay sakty han,

Charitable donations par, contribution of approved pension fund par, Investment of listed shares par, or profit on debts par
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07-06-2010, 04:12 PM,
#3
 
very Good and clear reply )

but i thing cell phone bill agar prepaid ho to WHT certificate nahi milta while it should be issued by the company ..ya agar milta hai to please tell me..ya ham log shaid zahmat he nahi kar tai nikal wanai ki..

ya but this is sure post paid main WHT deduction certificate milta hai .. and it adjust with yearly return.

thx
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07-06-2010, 05:47 PM,
#4
 
it is also available for prepaid cusotmers. please contact your service provider.
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07-06-2010, 08:56 PM,
#5
 
164. Certificate of collection or deduction of tax.- (1) Every person collecting tax under Division II of this Part or deducting tax from a payment under Division III of this Part or deducting or collecting tax under Chapter XII shall, at the time of collection or deduction of the tax, furnish to the person from whom the tax has been collected or to whom the payment from which tax has been deducted has been made, copies of the challan of payment or any other equivalent document alongwith a certificate setting out the amount of tax collected or deducted and such other particulars as may be prescribed.

(2) A person required to furnish a return of taxable income for a tax year shall attach to the return copies of the challan of payment on the basis of which a certificate is provided to the person under this section in respect of tax collected or deducted in that year and such certificate shall be treated as sufficient evidence of the collection or deduction for the purposes of section 168.

Sarfaraz bhai har withholding agent bound hay k wo withholding tax deduction certificate issue kary,,, han ap ki baat sahi hay k post paid connection par company khud certificate send kar dayti hay,, par prepaid connection par ap ko application dayni parti hay Issuance of withholding certificate ki tab aap ko WHT deduction certificate issue karny ki pabad ho jati hay company.
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