+- 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: What is the W.H Tax deduction document (/thread-what-is-the-w-h-tax-deduction-document)
What is the W.H Tax deduction document - sohail321 - 02-11-2010
Any debtor deducted W.H Tax at time of payment against Sales Invoice, which was receive it,
What is the document of above deduction collect from the debtor.
Please reply
[email protected]
- LapTop - 02-12-2010
Tax Payment Challan
- samis899 - 02-16-2010
Tax Payment Challan or Tax Payment Certificate (Both are legally valid under ITO, 2001, certificate is preferred)
- LapTop - 02-16-2010
Withholding tax deduction certificate is not valid document for the currant year.
- awaisaftab - 02-17-2010
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by sohail321</i>
<br />Any debtor deducted W.H Tax at time of payment against Sales Invoice, which was receive it,
What is the document of above deduction collect from the debtor.
Please reply
[email protected]
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
I think your question is related to dificlty that is felt by many organizations due to introduction of e-payment system by FBR. In past the use of Income Tax Challan as proof of deduction of tax was practice of many organizations thaese challans were also accepted by tax authorities as documentary proof of deduction of tax.You can use Computerized Payment Receipt,issued by banks in which taxes deposited, as documentary proof also besides Tax Collection/Deduction Certificates
- sajid naveed khan - 02-18-2010
Dear plz tell me tax deducted on any invoice is to be paid in govt treasury within how many days? Seven days or fifteen plz tell me with IT Ordinance reference
- samis899 - 02-18-2010
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by LapTop</i>
<br />Withholding tax deduction certificate is not valid document for the currant year.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Yes you are right that certificate alone is not valid, But certificate is still required U/S 164 (2) Of ITO, 2001 as amended and updated by Finance Act, 2009.
- samis899 - 02-18-2010
In practice it is up to the (ITO Income Tax Officer) whether he relies and accepts on any one of the challans and Certificate or demands both of them, therefore one should be sharp enough to collect both from customers who have deducted Income Tax from your payments.
- samis899 - 02-18-2010
There are situations when a persons deducts Income Tax from your payments but does not deposits it in government treasury (i.e becomes defaulter of withholding tax deducted at sources) In such cases you can only take certificates from them of deduction of Tax. Under law it is responsibility of the party who deducted the Tax to pay it, even if it is paid year late with penalties and surcharge.
That why Section 164 (2) spells out as " Certificate shall be treated as sufficient evidence of the collection of deduction for the purpose of Section 168 (i.e. sufficient evidence for the Tax payer to claim Credit In his Income Tax Return for Tax deducted by other parties)
- LapTop - 02-18-2010
Hi, Ap ki sari batyn sar aankhon par,,,,, par mera kahna ye hay k aap refund application file hi nahi kar sakty electronically agar aap k pass Tax payment Challan na ho to,,,, Agar koi tarika kar hay bina Tax Payment Challan k Electronically refund application file karny ka to mujhay bhi bataiye ga plzzzzzzzzzz
- samis899 - 02-18-2010
This thread was about the Evidence of Tax deducted on invoices not about refund )
- LapTop - 02-19-2010
agar aap ko refund ya credit nahi layna to Evidence kyon dhond rahy ho mery bhai,,,,,,
- samis899 - 02-19-2010
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by LapTop</i>
<br />agar aap ko refund ya credit nahi layna to Evidence kyon dhond rahy ho mery bhai,,,,,,
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
There is difference b/w refund and credit... I think you know the difference.. to obtain Tax credit of tax deducted by others from your payments you dont have to feed CPR No. in online e-filing of Income Tax returns in online portal of FBR....
Samajh ayee ya jo thee woh bhi gaye...???[)]
- LapTop - 02-19-2010
Ap ki baat sahi hay k return file karty waqt aap ko CPRN nahi chayea hota,,,
par agar usi return ka refund layna ho to phir to bhagna pary ga na Tax Payment challan k liye,,,
problem ka koi pata nahi hota mery bhai kab aa jaye is liye apni tyari pahly say hi kar k rakhni chayea,,,,