Khalil Ur Rehman & Co.

13/09/2025

20/04/2025

16/08/2024

How to Declare Profit on Debt Not Exceeding 5 Million Rs in Tax return 2024:

Final/Fixed/Minimum/Reduced Tax: Declare both the profit amount and the tax (calculated at 15%) in the "Profit on Debt u/s 7B (amount not exceeding 5 million) @ 15 percent" tab. With Bank Account details.

Reconciliation of Net Assets:Include the profit receipt under "Income Attributable to Receipts Subject to Final/Fixed Tax."

Personal Assets/Liabilities: Declare the closing balance of your bank account as of June 30th, including Bank Account details in the Investment (Non-Business) tab.

Personal Expenses: Declare the tax paid on the profit under "Rates/Tax/Charge/Cess."

Note:Profit on debt not exceeding 5 million will not be included under any other head of income. Excess deduction of 15 percent tax will be adjustable/refundable for non-filers. Always verify your calculations with your tax certificate.

16/08/2024

How to Declare Capital Gain and Dividend from Mutual Funds in Tax Return

Capital Gain:
Report the Gain: Declare the entire capital gain under the "Capital Gain" head of income in the both relevant columns of your tax return.
Final/Fixed/Minimum/Reduced Tax:Declare the capital gain and the corresponding tax (calculated at 10%) in the "Capital Gain on Securities/Mutual Funds u/s 37A @ 10 percent" tab.
Reconciliation of Net Assets:Enter the capital gain under "Income Attributable to Receipts Subject to Final/Fixed Tax and reconcile with Personal Assets/Liabilities.
Personal Expenses:Declare the tax amount under "Rates/Tax/Charge/Cess.

Dividend:
Final/Fixed/Minimum/Reduced Tax:Declare both the dividend amount and the tax (calculated at 15%) in the "Dividend u/s 150 @ 15 percent" tab
Reconciliation of Net Assets:Include the dividend receipt under "Income Attributable to Receipts Subject to Final/Fixed Tax.
Personal Assets/Liabilities:Declare the closing balance of your mutual fund investment as of June 30th, including the relevant customer ID and details.
Personal Expenses: Declare the tax paid on the dividend under "Rates/Tax/Charge/Cess.
Note: According to Section 39(5) of the Income Tax Ordinance 2001, dividend income is not included under any other head of income. Always verify your calculations with your tax certificate.

10/08/2024

Dear Valued Customer,
I hope you are doing well
Please be informed that as per the FBR (Federal Board of Revenue) regulations regarding advance tax u/s 236K, are as follows
1. Active Filer, who submitted his/her tax returns on time, will pay advance tax u/s 236K @ 3%
2. Active Late Filer, who submitted his/her tax returns late from given time of FBR, will pay advance tax u/s 236K @ 6%
3. In-Active/ Non-Filer, who not submitted tax return or not get registered in FBR, will pay advance tax u/s 236K @ 12%

04/08/2024

حادثاتی موت اور معاوضہ:
(انکم ٹیکس ریٹرن کی ضرورت)

اگر کسی شخص کی حادثاتی موت ہو جائے اور وہ شخص گزشتہ تین برسوں سے انکم ٹیکس ریٹرن فائل کر رہا ہو، تو حکومت اس شخص کے خاندان کو گذشتہ تین برسوں کی اوسط سالانہ آمدنی کا دس گنا دینے کی پابند ہے۔
ہاں، آپ کو اس پر حیرانی ہوگی، لیکن یہ صحیح ہے اور یہ حکومت کا قاعدہ ہے۔
مثال کے طور پر، اگر کسی کی سالانہ آمدنی پہلے، دوسرے اور تیسرے سال میں بالترتیب 4 لاکھ، 5 لاکھ اور 6 لاکھ ہے، تو اس کی اوسط آمدنی پانچ لاکھ کا دس گنا ہے، یعنی پچاس لاکھ روپے، جو حکومت اس شخص کے خاندان کو دینے کی پابند ہے۔
زیادہ معلومات نہ ہونے کی وجہ سے، لوگ اس دعویٰ کو حکومت سے نہیں لیتے۔
قانون کی نظر میں کوئی جائیداد کا ریکارڈ، ایف ڈی، کاروبار وغیرہ کو انکم ٹیکس ریٹرن کے مقابلے میں اتنی اہمیت نہیں دی جاتی۔
ذرائع -
موٹر ایکٹ، 1988 کی دفعہ 166 (سپریم کورٹ کا فیصلہ سول/ اپیل نمبر 9858، 2013، ایس ایل پی (سی) نمبر 1056، 2008) مورخہ 31 اکتوبر، 2013۔

15/07/2024

11/07/2023