Good News | How much Income Tax on Behbood Saving Certificates | Tax Year 2023 | FBR |

Anyone interested to learn Pakistan taxation including E-Filing of both sale tax and income tax please WhatsApp or call at 03007574731.

Click on below WhatsApp link for further details of Practical Taxation Course
Income tax Includes
1. Section-149 Income from Salary
2. Section-155 Income from Property
3. Section-153 Payment of goods, service and contract
4. Section-147 Advance income tax
5. Section-148 Import
6. Section-231AA and 236P Advance tax on certain banking transection
7. Section-231B Advance tax at the time of registration of private motor vehicle
8. Section-235A Tax collection from domestic electric bills
9. Section-236 Tax collection from telephone users
10. Section-236B Advance tax on purchase of domestic air ticket
11. Section-236F Advance tax on cable operator and other electronic media
12. Section-236G Advance tax on sale to distributor, dealer and wholesalers
13. Section-236H Advance tax on sale to retailers
14. Section-236I Advance tax by educational institutions
15. Section-236U Advance tax on insurance premium
16. Section-236X Advance tax on Tobacco
17. Section-236Y Advance tax on remittance abroad through credit, debit or prepaid cards
18. Fine and penalties
19. Section-177 Audit
20. Treatment of provision for bad and doubtful debts
Sale Tax Includes
1. What is sale tax or indirect tax and concept of VAT
2. Difference between Input and Output tax
3. Further tax and extra tax
4. Calculation of Sale tax
5. Advance sale tax
6. Withholding Sale tax
7. Debit and credit notes
8. Admissible credit
9. Annexure A, B, C, F,H, J and I with practical example
10. Supply and purchase register
11. Stock or consumption sheet
12. Concept of Punjab Revenue Authority (PRA) and Sindh Revenue Authority (SRB)

E-Filing
1. Monthly sale tax return
2. Withholding Statement
3. Reconciliation of sale tax return
4. Reconciliation of wealth
5. Annual income tax return of Salary Individual
6. Annual income tax return of Company
7. Annual income tax return of Business Individual / Retailer or Trader
8. Annual income tax return of AOP
All above section will be cover with practical example and online filing.

Regards,
Faheem Mehboob
ACCA Member
03007574731

[YasirKhan-ezqo]

When it club with other heads of income then 5% tax chargeable is not being executed in iris

[TanveerAhmad-xglk]

Wonderful. Very well explained. You have cleared all doubts.

[javaidiqbal]

Aa, with reference to FY 2023-24, rates of deduction of income tax on Behbood profit has been changed. Will you please review this topic accordingly . JazakALLAH

[Gamerbuoypk]

Great info but there is one big issue in all this. One pensioner that I know was of view till today that behood profit is not taxable so have never filed return as there was no other tax liability. Even staff of NSC told that person that this amount is not taxable. Through this video that person got to know that behbood profit is taxable. Now what to do. That person is willing to file return and pay tax for 23-24 but that person is worried what if FBR open his record for last 6 years and ask for tax on behbood profit for all 6 years. What if is he is penalized. It would become too much. What should he do?

[jmkhan]

Dear I watched your video on Bhehbood income. You have only highlighted the income of bhehbood yields. If I have bhehbood income n any other income like property income, here in IRIS system charges tax on bhehbood income more than 5% pl prepare the video with other income, Pl let me clarified. Thanks

[alammahmood]

Sir, when you have other sources of income as well then this 5% tax rate apply does not apply, although FBR said it is 5% or 10%. Last year i have a case where this rate was around 19%. even 4% more than the fix rate on Bank Profits. can you pls. have video with 2M profit from Behbood and 2M income from Salary or property.

[khubaib]

سر ایک سوال پوچھنا تھا
گزارش ہیکہ پنجاب میں زرعی انکم ٹیکس جمع کروانے کا طریقہ کیا ہے؟
کہ فارم 32 اے میں کونسا ہیڈ اور کونسا اکاونٹ نمبر لکھنا ہے ؟راہنمائی فرما دیں، شکریہ

[aitzazshah]

AoA,
Wo senior citizens jinki koi property nahi, koi source of income nahi, sirf behbood savings certificate hain or monthly profit bhi 50, 000 se kum hy, kya unko bhi filer hona chahye?

[syedliaquat-nnjc]

Appreciated removed confusion i.e what would be rate of income tax beyond 6 lacs . . 5%

[ShanAli-cfwf]

AOA sir and sir Kiya easy paisa transection be show karna Lazmi Hai return Mai and Kiya iski information be MIS par show hoti Hai

[qaaadyala]

IS THIS ALSO APPLIED ON PENSIONERS BENEFIT ACCOUNT? PLEASE ANSWER. GOD BLESS U

[tahirchaudhry]

Thanks but still needs clarification, if other incomes are clubbed with Behbood then what % ? Secondly new or even old Iris Fbr website is NOT opening from overseas (USA) again as it was last year. Advise please.

[waqas]

what about savving account or term deposite certificate they deduct 15% did we still need to pay more tax after deducation of 15% from bank

[GodZeus-ew]

Sir my father's income comes from behbood saving certificate and it exceeds 1 Millon. and fbr has send notice of advance tax under section 147, where as my father has not any business so now i want to know that what should i do? what reply i should give to fbr? kindly tell me sir.

[AamirAli-kwol]

Same confusion as pointed out by others. Is behbood a final tax? If its not, and part of normal income, then how come it is shown in video as at final tax rate of 5%. My understanding is that behbood income is to be clubbed with other normal income and slab rates be applied accordingly for calculating tax liability. thanks

[zainabsuleman]

I have heard that income tax on Behbood Saving Certificates of 5% is applicable w.e.f. 1st July, 2023, as such not applicable on the return for July 1, 2022 to 30th June 2023. Your guidance please

[Sami-pryp]

Assalam o aliakum!

Sir if a person is a manager accounts in university and same time in same university have a teaching faculty contract, should he may be claim as a full time teacher or not?

[muhammadwaqas]

Sir agar Bahbood certificates aur regular certificates mila kar profit 5 miillion se ziada ho tu....bahbood ke entry separate karoun aur regular income certficates ki separate karoun??? is se mera tax slab 5 million se neeche rehe ga...plz reply

[Fshah]

AOA, I understand that, it is necessary to entered income from bank profits in sections
‘’Income Attributable to Receipts, etc. Declared as per Return for the year subject to Final / Fixed Tax (7033)’’ in section ‘’Reconciliations of net assets’’ (Wealth statement).

Please advice, is it necessary to enter profit received from Behbood certificate and property rental income in this section as well.
Thanks

[AliSarkaar-ne]

Pension ac k profit per tax ada kana hy ya nhn