+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forum-the-profession)
+--- Forum: Tax (https://www.accountancy.com.pk/forum/forum-tax)
+--- Thread: tax treatment of foreign reciepts (/thread-tax-treatment-of-foreign-reciepts)
tax treatment of foreign reciepts - tahir.rauf - 09-24-2005
hi friends!i am a bit confused about the tax treatment of foreign reciepts as gift. for example a pakistani resident individual is a govt employee and has no other source of income;at the same time he recieves rs 50,000/month from his son who is serving in germany. i wanna know is that is the amount recieved as gift from a blood relative is taxable? f yes what is the tax rate applicable?
i am doing CA
- tahir.rauf - 09-24-2005
hello guys ! where all of u are?i asked the question of tax treatment after 2 reading none of u replied.i wanna know the treatment coz i hav to complete the books of a comany.n yet tax not finalised.waaiting for ur replies.bye
you can contact the author at [email protected] is doing inters in CA inters in DUBAI
- massood akhter - 09-25-2005
Hello,
As per your stated situation there is no tax liability on the part of the recepient in paksitani tax laws.
massood ar.
- tahir.rauf - 09-25-2005
hello massood! thank u for ur comment i had been anxiously waiting for the reply. as i,m practicing in UAE there is hardly any income tax in UAE that is why i was confused.
thnk u once again.ALLAH HAFIZ
you can contact the author at [email protected] is doing inters in a CA firm in DUBAI