03-20-2010, 01:59 AM
I am working in local private firm as accountant. Our company registered in July 2009 and it has NTN also. It has only one employee whose income is taxable. He was hired in November 2009 at monthly salary of Rs.25000/-. Now at the end of financial year in June 2010 he will have income of Rs.200,000/-. My question is how much tax is needed to be deducted and deposited in Govt. treasury and when? Either Rs.200,000/- *0.5/100 = Rs.1000/- in June 2010, or Rs.25000/-*12 = 300,000*0.75/100 = Rs.2250/- in June 2010 or monthly equivalent payment. Since we have not deducted any amount as yet what will be the procedure of depositing tax.
Secondly we are paying 15000/- per month as rent for premises since November 2009, but havent deducted / deposited tax on it also. Can we deposit tax of all these months at once.
An early response is requested.
Secondly we are paying 15000/- per month as rent for premises since November 2009, but havent deducted / deposited tax on it also. Can we deposit tax of all these months at once.
An early response is requested.
