Allen Klein - Softax · Your attitude is like a box of crayons that color your world. Constantly...
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ِ رِ خٰ ْ اِ مْ وَ يْ الَ وِ ه ِ َ نْ و ؤ نِ مْ ؤ ِ َ َ نْ وَ ْ َ يَ وِ فْ و ؤ رْ عَ مْ لِ َ نْ و ؤ ر ؤ مْ َ َ وَ ْ ِ حِ ل ه الصَ ِ َ ك ى ول ؤ اَ و ِ تٰ ْ َ ْ اِ َ نْ و ؤ عِ ارَ س ؤ يَ وِ رَ كْ ن ؤ مْ ال١١١ Surah Al-i'mran, Ayat 114 Maulana Muhammad Joona Garhi ر ن ا دن ت م اور ٰ ا ن را ح ا ور ن ھ ب ۔ ن ک ی ح ی ن ھ ب اور روMaulana Ishaq Madni ) ن( د ، اوروہ دن ت م ا ور، ا ر ن ا) ( ) ان( ، اور ا ن ک ی ح ، اوردور را ح رو ف ن ا اورش) ک ی ح( گ ، اورا ۲ Maulana Mahmood ul Hassan Deobandi اور ات ج ا اور دن ت م اور ا ن ا رے ح ف ک ی حگ اورو ن ک ی ح اوردور ن ۵ Maulana Fateh Muhammad Jalandhri ن ا ری ج ح اور م اورا ر ن ا ت ا اوررور دا خ)اور( ر گ اور ن اورMaulana Ahmad Ali Lahori ن رے ح اور ات ج ا ورا ن ا دن ت م اور ا ک ی حگ اورو دور ن ک ی ح اور روMaulana Abul Aala Maududi ، د ، ر ن ا ت ا اوررور ا ھ ب اور رو ن را ح ۔ گ ۔ م ر ن Maulana Abdur Rehman Kilani [ ت اورا وہ ا٣٠١ رے ح اور د ن ، ا ن ا دن] ۔ ن ھ ب اور رو ن ن Maulana Taqi Usmani they believe in Allah and the Hereafter, and bid the Fair and forbid the Unfair, and hasten towards good deeds. They are among the righteous. Maulana Abdul Majid Daryabadi And they believe in Allah and the Last Day and command that which is reputable and prohibit that which is disreputable, and vie with each other to virtues. And these are of the righteous. Sahih International They believe in Allah and the Last Day, and they enjoin what is right and forbid what is wrong and hasten to good deeds. And those are among the righteous. Your attitude is like a box of crayons that color your world. Constantly color your picture gray, and your picture will always be bleak. Try adding some bright colors to the picture by including humor, and your picture begins to lighten up. Allen Klein BUSINESS TERM OF THE WEEK Accounting Cycle The sequence of six steps in the processing of financial transactions (from the time they occur to their inclusion in financial statements) pertaining to an accounting period. These steps are: (1) analyzing the transactions as they occur, (2) recording them in the journals, (3) posting debits and credits from journal entries to the general ledger, (4) adjusting the assets with a trial balance, (5) preparing financial statements, and (6) closing the temporary accounts. Edition: 356 Issue: 02-01-18 Income Tax 08(I)/2018 Jan 02, 2018 C.No.4(72)IT-Budget/2015-1450-R Jan 04, 2018 Sales Tax SRB/Admin/Jurisdictions/68/2014/270320 Jan 05, 2018 SRB-COM-II/AC-03/RESTORATION ORDER/17-18/269715 Jan 08, 2018 G.O 01/2018 Jan 03, 2018 G.O 02/2018 Jan 03, 2018 G.O 03/2018 Jan 03, 2018 G.O 04/2018 Jan 03, 2018 G.O 05/2018 Jan 03, 2018 G.O 06/2018 Jan 03, 2018 G.O 07/2018 Jan 03, 2018 G.O 08/2018 Jan 03, 2018 Persons who are required to furnish Income Tax Return are defined in Section 114(1) of ITO, 2001. If the non-resident falls under section 114(1) then he is liable to file return except having vehicle of more than 1000cc or property in city more than 250 sq yard or property in rating area more than 500 sq. yard then not required to file return. Question: For commercial importer, additional Sales tax @3% (AST) charged on the same import value, on which, GST @17% charged. This AST will claim by the Commercial importer as Input sales tax against there output sales tax liability? Answer: Yes, because this is part of input tax as prescribed in Rule 58B(2) of the Special Procedure Rules, 2007. ------------------------------------ Question: If someone gets his arrears which were due in tax year 2016 but realized in TY 2018. Now his taxable income will be increased substantially. is there any way so he can deposit his tax according to ty 2016(transitional year).? Answer: According to section 12(7) of the Income Tax Ordinance, 2001, the employee may opt to pay tax on the basis of the year with which the arrears relates to. ------------------------------------ Question: If the transaction is made for “Advance against Expense” from one entity to another (which are partners AOP). Is payee liable to deduct WHT or not Answer: Suppose A is making advance payment to B for some expenses and B made actual Expenses. A will not deduct tax from advance payment to B but B will deduct tax on payment for expenses. ------------------------------------ SOFTAX MEMBER QURIES ری: ث ح: ا ول 21 رات ث ح 60 23 ا ہ ی عٰ ا ی ر در خ، ا ر ، ر ، و ، ، ا و ا خ د ور اور ت ن ج و ا ت ن ج) ت ج( ا ج ر ف ت ا ث ح رو ا و وا د ا خ دور دل ر ف )ن ر ف( ٰ ا ا ک، خ دو ر وہ ، ل ) خ دور( ، اک ن ا)( ر ح ر ا ح د ا را، ل د ا د ت ا ، ج وہ ، ہ ) ( وہ اور ہ ار وج وہ ث حاے( ، ا شا ا ج شا ) ار و ج( خ دا ، و ی ک را اج ث ح ؟ اک ا ی کل خ رد ی ر د ا د ) ۔ ث ح ر وا ن ا اور ت ء ث ح رو ا ا Workshop on Techniques to Handle Sales Tax Audit January 19, 2018 at Movenpick Hotel, Karachi January 23, 2018 at Sarena Hotel, Islamabad Janaury 25, 2018 at Faletti’s Hotel, Lahore --------------------------------------------- 2 Days Workshop on Advance Labour Laws Specialization For Senior Professionals January 23, 23 2018 at Sunfort Hotel, Lahore January 30, 31 2018 at Movenpick Hotel, Karachi For more details and latest events click here Lahore ‐ Karachi ‐ Islamabad ‐ Sargodha E: [email protected] | W: softax.com.pk TAX TIP OF THE WEEK QUOTE OF THE WEEK WEEKLY UPDATES (SROs, Circulars etc.) UPCOMING EVENTS
Transcript of Allen Klein - Softax · Your attitude is like a box of crayons that color your world. Constantly...
خر
م ال
وي
ال
وه
بلل
ن
وؤمن
ؤ ي
ع
ن
و
ن
ي
ف و
و
ؤر
مع
بل
ن
وؤ
رؤم
ي
و
لحيه
الص
م
ك ىول
ؤ
ا
ت و
ي
ف ال
ن
وؤارع
س
ؤي
ر و
ك
نؤم
١١١ال
Surah Al-i'mran, Ayat 114 Maulana Muhammad Joona Garhi
یھب ر ےتھک ںیہ
رپ ا امین
ےک د ن
ر ا ویئن ےس ہی ا ہلل اعتیل رپ ا و ر ایقمتح ھالویئن اک مکح رکےت ںیہ ا و ر
ب
ی ک تخب ولوگن ںیم ےس ںیہ ۔
حھالیئ ےک اکومن ںیم دلجی رکےت ںیہ ہی
ب
ر و ےتک ںیہ ا و ر
Maulana Ishaq Madni
رپ، ا و ر و ہ میلعت د ےتی ںیہ )ولوگن وک(
ےک د ن
ر ےتھک ںیہ ا ہلل رپ، ا و ر ایقمت
وج )کیھٹ کیھٹ( ا امین
وک(
ی ک اکومن ںیم تقبس رکےت ا اھچیئ یک، ا و ر )ا ن
ح ےت ںیہ
ر ا یئ ےس، ا و ر د و رح ر و ےتک ںیہ
ا ہتسئ ولوگن ںیم ےس وہےت ںیہ ف
ی ک تخب( ا و ر ش
ح ۲وہےئ، ا و ر ا ےسی یہ ولگ )
Maulana Mahmood ul Hassan Deobandi
اک ا و ر عنم رکےت ںیہ
رپ ا و ر مکح رک ےت ںیہ ا یھچ ج ا ت
ےک د ن
الےت ںیہ ا ہلل رپ ا و ر ایقمت
ر ے ا امینح
ی ک تخب ںیہ ف
حی ک اکومن رپ ا و ر و یہ ولگ
ح ےت ںیہ
۵اکومن ےس ا و ر د و ر
Maulana Fateh Muhammad Jalandhri
ر ی ج ا وتن ےس عنم رکےت ح ر ےتھک ا و ر ا ےھچ اکم رکےن وک ےتہک ا و ر
رپ ا امین
ا رخت
د ا رپ ا و ر ر و ر
)ا و ر ( خ
ا و ر ویکینن رپ ےتکپل ںیہ ا و ر یہی ولگ وکیناکر ںیہ
Maulana Ahmad Ali Lahori
ر ے اکومن ےس ح اک مکح رکےت ںیہ ا و ر
الےت ںیہ ا و ر ا یھچ ج ا ت
رپ ا امین
ےک د ن
ا ہلل ا و ر ایقمت
ی ک تخب ںیہ
ح ےت ںیہ ا و ر و یہ ولگ
ی ک اکومن ںیم د و ر
ح ر و ےتک ںیہ ا و ر
Maulana Abul Aala Maududi
ر ےتھک ںیہ، یکین اک مکح د ےتی ںیہ،
رپ ا امین
ا رخت
ھالیئ ےک ا ہلل ا و ر ر و ر ب
ر ا ویئن ےس ر و ےتک ںیہ ا و ر ح
اکومن ںیم رس رگم ر ےتہ ںیہ ۔ ہی اصحل ولگ ںیہ ۔
Maulana Abdur Rehman Kilani
ےک ]
ر ے ٣٠١و ہ ا ہلل رپ ا و ر ا رختح الےت ںیہ، ا ےھچ اکومن اک مکح د ےتی ںیہ ا و ر
رپ ا امین
[ د ن
ھالیئ ےک اکومن ںیم تقبس رکےت ںیہ ۔ ب
ہی اصحل ولوگن ںیم ےس ںیہاکومن ےس ر و ےتک ںیہ ا و ر
Maulana Taqi Usmani
they believe in Allah and the Hereafter, and bid the Fair and forbid the Unfair, and hasten towards good deeds. They are among the righteous.
Maulana Abdul Majid Daryabadi
And they believe in Allah and the Last Day and command that which is reputable and prohibit that which is disreputable, and vie with each other to virtues. And these are of the righteous.
Sahih International
They believe in Allah and the Last Day, and they enjoin what is right and forbid what is wrong and hasten to good deeds. And those are among the righteous.
Your attitude is like a box of crayons that color your world. Constantly color your picture gray, and your picture will always be bleak. Try adding some bright colors to the picture by including humor, and your picture begins to lighten up. Allen Klein
BUSINESS TERM OF THE WEEK
Accounting Cycle The sequence of six steps in the processing of financial transactions (from the time they occur to their inclusion in financial statements) pertaining to an accounting period. These steps are: (1) analyzing the transactions as they occur, (2) recording them in the journals, (3) posting debits and credits from journal entries to the general ledger, (4) adjusting the assets with a trial balance, (5) preparing financial statements, and (6) closing the temporary accounts.
Edition: 356
Issue: 02-01-18
Income Tax
08(I)/2018 Jan 02, 2018
C.No.4(72)IT-Budget/2015-1450-R Jan 04, 2018
Sales Tax
SRB/Admin/Jurisdictions/68/2014/270320 Jan 05, 2018 SRB-COM-II/AC-03/RESTORATION ORDER/17-18/269715 Jan 08, 2018 G.O 01/2018 Jan 03, 2018 G.O 02/2018 Jan 03, 2018 G.O 03/2018 Jan 03, 2018 G.O 04/2018 Jan 03, 2018 G.O 05/2018 Jan 03, 2018 G.O 06/2018 Jan 03, 2018 G.O 07/2018 Jan 03, 2018 G.O 08/2018 Jan 03, 2018
Since 1991
Persons who are required to furnish Income Tax Return are defined in Section 114(1) of ITO, 2001. If the non-resident falls under section 114(1) then he is liable to file return except having vehicle of more than 1000cc or property in city more than 250 sq yard or property in rating area more than 500 sq. yard then not required to file return.
Question: For commercial importer, additional Sales tax @3% (AST) charged on the same import value, on which, GST @17% charged. This AST will claim by the Commercial importer as Input sales tax against there output sales tax liability?
Answer: Yes, because this is part of input tax as prescribed in Rule 58B(2) of the Special Procedure Rules, 2007.
------------------------------------
Question: If someone gets his arrears which were due in tax year 2016 but realized in TY 2018. Now his taxable income will be increased substantially. is there any way so he can deposit his tax according to ty 2016(transitional year).?
Answer: According to section 12(7) of the Income Tax Ordinance, 2001, the employee may opt to pay tax on the basis of the year with which the arrears relates to.
------------------------------------
Question: If the transaction is made for “Advance against Expense” from one entity to another (which are partners AOP). Is payee liable to deduct WHT or not
Answer: Suppose A is making advance payment to B for some expenses and B made actual Expenses. A will not deduct tax from advance payment to B but B will deduct tax on payment for expenses.
------------------------------------
SOFTAX MEMBER QURIES
FTAX MEMBER QURIES
ربمن حیحص اخبر ی:
ثح 21دلج ا و ل:دح
دقیس رکمر ا ت
ثح 23قفتم ہیلع 60دح
ہ یبن رکمی یلص ا ہلل ہیلع
یعد ر ی ر یض ا ہلل اعتیل
ین، ا وبدیعس خ
ین، ییحی امر
ا لیعمس، امکل، رمعو نب ییحی، امر
و ا ےل
خ
ںیم ا و ر د و ر
ت
و ا ےل ج ن
ت
ن ( ج ر امج ا )ج ت ف رکےت ںیہ ہک ا ت ےن
ثحو ا ہل و ملس ےس ر و ا
ںیم د ا لخ وہاجںیئ
خ
ر امےئ ک ہک ک ےک د ل ںیم د و رفر (ںون( ےس
ف ،، ا ک ےک ا د ا ہلل اعتیل )
ےس اکنےل
خ
ےس( اکنل ول، سپ و ہ د و ر
خ
وہ، ا ک وک )د و ر
ر )یھب( ا امینح ر ا ح ر ا یئ ےک د ا ےن ےک
ا ل د ےیئ اجںیئ ،،
ںیم د
اجںیئ ، ا و ر و ہ )لج رک( ایسہ وہےکچ وہےگن، رھپ و ہ رہن ایح، ج ا رہن ایحت
ہ
ا ر
ث و ہ رتو ج
ح یگ( ےک شا ھت ج ا ین ےک شا ھت ا اتگ ےہ، )ا ے
ا ر
وہاجںیئ ،، ک رطخ د ا ہن )رتو ج
ےک ا ج ک ر ا و ی رمع
ثحا ےہ؟ ا ک دح
یکل
خ ر د ی املئ
صخش( ایک وت ےن ںیہن د اھکی ہک د ا ہن اسیک زبس وکلپن ر
ایک ےہ۔
ثح یک اجبےئ نم ریخ ر و ا
اک ظفل ا و ر نم ا امین
ںیم ظفل ایحء یک ہگج ایحت
ثح ےن ا ینپ ر و ا
Workshop on Techniques to Handle Sales Tax Audit
January 19, 2018 at Movenpick Hotel, Karachi January 23, 2018 at Sarena Hotel, Islamabad
Janaury 25, 2018 at Faletti’s Hotel, Lahore
---------------------------------------------
2 Days Workshop on Advance Labour Laws Specialization
For Senior Professionals January 23, 23 2018 at Sunfort Hotel, Lahore
January 30, 31 2018 at Movenpick Hotel, Karachi
For more details and latest events click here
Lahore ‐ Karachi ‐ Islamabad ‐ Sargodha E: [email protected] | W: softax.com.pk
TAX TIP OF THE WEEK
QUOTE OF THE WEEK
WEEKLY UPDATES (SROs, Circulars etc.)
UPCOMING EVENTS
