15% surcharge queries, . urgent

[daneyal13]

Plz someone reply to the following queries .

1. kiya sab per yeh tax hay ind, aop companies,.

2. Annual return kay sath dayna hoga kiya yeh tax.

3. March 15 say june 30th kay tax payable pay jo surcharge hay, to march 13 say june 30 th tak ka tax payable kaisay calculate hoga.
kiya aisay karaingay . total tax payablex2.5/12

4. amendment main 4A add kiya hay inlogon nay jis main ITO chapter X aur chapter X11 ka reference diya hay is ki kiya implications hain.

5. kiya WHT kay tor per koi deduct ker sakta hay yeh,.

plz also kindly tell me if their is any intricate point worth mentioning.
thanks.

[LapTop]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by daneyal13</i>
<br />Plz someone reply to the following queries .

1. kiya sab per yeh tax hay ind, aop companies,.

2. Annual return kay sath dayna hoga kiya yeh tax.

3. March 15 say june 30th kay tax payable pay jo surcharge hay, to march 13 say june 30 th tak ka tax payable kaisay calculate hoga.
kiya aisay karaingay . total tax payablex2.5/12

4. amendment main 4A add kiya hay inlogon nay jis main ITO chapter X aur chapter X11 ka reference diya hay is ki kiya implications hain.

5. kiya WHT kay tor per koi deduct ker sakta hay yeh,.

plz also kindly tell me if their is any intricate point worth mentioning.
thanks.
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Daneyal bhai…
Ordinance may saf saf likha hay k “any taxpayer” any taxpayer say murad wo koi bhi ho chahay Individual AOP ya Company.
Surcharge “Income Tax Payable” pay lagy ga 15%, is say murad hay k nature of income ka koi taluk nahi hay is surcharge say, chahay koi bhi income ho agar taxable hay to Income tax payable ka 15% surcharge dayna pary ga.
Jahan tak is ko jama karwany ki bat hay to, time or manner wo hi hon gay jo k ap k tax payable k han,
Yani k agar ap salary par income tax ki bat karyn to jis tarhan or jis waqat ap usy withheld karyn gay surcharge bhi withheld kar k usi k sath jama karwa dayn gay.
Agar ap withholding agent han to jo bhi tax withheld karyn gay kisi bhi nature of income par us ka 15% surcharge bhi withheld karyn gay sath may.

[daneyal13]

Laptop bhai thanks for your kindness,

chand sawalat kay jawab aur inayat farma ker mamnoon-o-mashkoor farmain.

1. yani agar koi supplies jokay (15th march kay baad ki hon)ki payment karay to 3.5% kay sath alag say us 3.5% wali amount ka 15% bhi deduct karlay. ab jis ki deduction hoi wo apni return jab dec main file kernay kay liya final accounts banata hay aur us ka income tax payable(after all deductions, appropriations) aata hay to kiya phir mazeed income tax payable jo bana uskay sath sath usi income tax payable ka 15% mazeed jama karaiy.

2. mazeed yeh kay retrn main jo IT payable aaiy us ka march 15 say june 30th tak ka hisab kiya aisay lagain , IT PAYABLE x 3.5/12 x 15%.

(kiyonkay march 15 say june tak 3.5 months bantay hain.)

3. kiya individual/companies clients ko batadain kain agar september/december main file kartay waqt income declare karni parti hay aur us per tax payable banta hay to us tax payable ka 15% mazeed pay karna paray ga. yani aap apni products ya sevices kay charges barha dain.

4. is mahinay ki salary kay tax payable ka 50% layker uska 15% mazeed deduct karlain.

5. kiya stay order kayliya application daldi hay kissi nay .


thanku so much.

[LapTop]

1) Yes
2) 15 March say lay kar June tak ki jo income ho gi usy alhada kar layn, total income k hisab say jo tax rate banta hay us say tax liability nikal layn , us tax liability ka 15% surcharge ho ga.

Ap k tariky say nahi nikal sakty kyon k har mahiny ki income same nahi hoti, ho sakta hay march k bad company ki koi income na ho to ap ka formula fail ho jaye ga.

3) Yes
4) Is mahiny k 100% tax liability ka 15% surcharge ho ga.
5) Pata Nahi

[daneyal13]

plz laptop bhai yeh bhi bataiyayga kay 15th march say december wala point samjh nahi aaya, kiyonkay company ka tax year 2011 to june main khatam hoga laikin return dec main jati hay to matlab june tak kay final accounts per hi karaingayna.

[LapTop]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by daneyal13</i>
<br />plz laptop bhai yeh bhi bataiyayga kay 15th march say december wala point samjh nahi aaya, kiyonkay company ka tax year 2011 to june main khatam hoga laikin return dec main jati hay to matlab june tak kay final accounts per hi karaingayna.


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Sorry Ghalti say December likh diya June tak

[ArsalanYousuf]

The Income Tax (Amendment) Ordinance, 2011 [“2011 Ordinance”] has inserted a new section 4A in the Income Tax Ordinance, 2001 [“the Ordinance”] to provide for levy of “Surcharge” at the rate of 15% on income tax payable by every taxpayer as income tax liability, advance tax and withholding tax (as withholding agent) etc. The Surcharge is payable
#9632;
on income tax liability pertaining to tax year 2011; and
#9632;
on taxes deducted / collected during the period from 15 March 2011 to 30 June 2011 by any withholding tax agentFurther, Surcharge shall be paid, collected, deducted and deposited at the same time and in the same manner as the tax is paid, collected, deducted and deposited on account of income tax liability, advance tax, withholding taxes etc.Based on the provisions of section 4A, the following position emerges
#9632;
All taxpayers whose tax year 2011 [i.e. income year ended between 01 July 2010 to 31 Dec 2010] has already been closed, they are required to pay surcharge on their whole year’s tax liability at the time of filing of return. Such taxpayers would not be required to pay surcharge on March and June 2011 Quarters advance tax liability as the two quarters would fall within tax year 2012. Further, such taxpayers would not be subject to surcharge on withholding taxes on their receipts as the same would not fall within tax year 2011 but tax year 2012.
#9632;
Such taxpayers, where tax year 2011 has not yet closed, they would be subject to surcharge on withholding taxes on their receipts from 15 March 2011 until year end or 30 June 2011 whichever is earlier. Such taxpayers would also be required to compute surcharge on advance tax liability for March 2011 and June 2011 Quarters (where any such quarter falls within tax year 2011). Furthermore, such tax payers will be required to compute surcharge liability on full year's income tax liability and pay the differential surcharge i.e. after adjustment of surcharge withheld by the withholding agents between 15 March 2011 and 30 June 2011 and surcharge paid in advance, at the time of filing of their return.
#9632;
Surcharge will also be applicable on receipts / income falling under presumptive regime covered within tax year 2011.
#9632;
Employers would be required to withhold tax computing surcharge on full year’s tax liability of the employees (i.e. from 01 July 2010 to 30 June 2011) and deduct the same until 30 June 2011.
#9632;
Withholding agents are required to deduct / collect surcharge at 15% of the amount of tax deducted / collected and deposit the same in the same manner as is done in the case of tax deducted / collected.

[Imran Hafeez]

Flood surcharge is only applicable on the incomes from 15-Mar-11 till 30-June-11.

It is not at all applicable on full year tax libaility.

Finance Minister announced that FBR is going to generate additional Rs 20 billion revenue from flood surcharge.

FBR generates approx Rs 500 billion from income taxes in whole financial year(12 months). If 15% is applied on whole year tax liability, FBR is going to generate additional Rs 75 million, whereas they are claiming that only Rs 20 billion will be generated from the flood surcharge.

This clearly means flood surcharge is only on the income from 15-Mar-2011 till 30-Jun-2011

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by ArsalanYousuf</i>
<br />The Income Tax (Amendment) Ordinance, 2011 [“2011 Ordinance”] has inserted a new section 4A in the Income Tax Ordinance, 2001 [“the Ordinance”] to provide for levy of “Surcharge” at the rate of 15% on income tax payable by every taxpayer as income tax liability, advance tax and withholding tax (as withholding agent) etc. The Surcharge is payable
#9632;
on income tax liability pertaining to tax year 2011; and
#9632;
on taxes deducted / collected during the period from 15 March 2011 to 30 June 2011 by any withholding tax agentFurther, Surcharge shall be paid, collected, deducted and deposited at the same time and in the same manner as the tax is paid, collected, deducted and deposited on account of income tax liability, advance tax, withholding taxes etc.Based on the provisions of section 4A, the following position emerges
#9632;
All taxpayers whose tax year 2011 [i.e. income year ended between 01 July 2010 to 31 Dec 2010] has already been closed, they are required to pay surcharge on their whole year’s tax liability at the time of filing of return. Such taxpayers would not be required to pay surcharge on March and June 2011 Quarters advance tax liability as the two quarters would fall within tax year 2012. Further, such taxpayers would not be subject to surcharge on withholding taxes on their receipts as the same would not fall within tax year 2011 but tax year 2012.
#9632;
Such taxpayers, where tax year 2011 has not yet closed, they would be subject to surcharge on withholding taxes on their receipts from 15 March 2011 until year end or 30 June 2011 whichever is earlier. Such taxpayers would also be required to compute surcharge on advance tax liability for March 2011 and June 2011 Quarters (where any such quarter falls within tax year 2011). Furthermore, such tax payers will be required to compute surcharge liability on full year's income tax liability and pay the differential surcharge i.e. after adjustment of surcharge withheld by the withholding agents between 15 March 2011 and 30 June 2011 and surcharge paid in advance, at the time of filing of their return.
#9632;
Surcharge will also be applicable on receipts / income falling under presumptive regime covered within tax year 2011.
#9632;
Employers would be required to withhold tax computing surcharge on full year’s tax liability of the employees (i.e. from 01 July 2010 to 30 June 2011) and deduct the same until 30 June 2011.
#9632;
Withholding agents are required to deduct / collect surcharge at 15% of the amount of tax deducted / collected and deposit the same in the same manner as is done in the case of tax deducted / collected.
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[daneyal13]

<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 />1) Yes
2) 15 March say lay kar June tak ki jo income ho gi usy alhada kar layn, total income k hisab say jo tax rate banta hay us say tax liability nikal layn , us tax liability ka 15% surcharge ho ga.

Ap k tariky say nahi nikal sakty kyon k har mahiny ki income same nahi hoti, ho sakta hay march k bad company ki koi income na ho to ap ka formula fail ho jaye ga.

3) Yes
4) Is mahiny k 100% tax liability ka 15% surcharge ho ga.
5) Pata Nahi

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Laptop bhai plz answer no. 4 samjhadain , date of promulgation say jab ordinance valid hay to pooray mahinay ki salary kiyon,.
employees ko daily basis per hours worked kay mutabiq salary charge hoti hay aam tor per.

[LapTop]

Surchage salary income par nahi lagy ga, wo Tax payable pay lagy ga, is waja say jo payable tax hay usi ka 15% surcharge ho ga,
15 March k bad tax payable pori salary par ho ga,

[adnysam]

Laptop Bhai
Ordinace mai flood surcharge ke baray mai likha hai k poray sal ke income tax liability calculate karo phir shayad us ko divide karo 12 month say aur phir shayad 3.5 month se multiply kar kay surcharge liability banai gi. kia aisa hi hai.

1) hum ne 15 march se pehlay bonus and leave encashment bhi diya hai kiya yeh bhi surchargeable
ho gayga.
2) kiya is mai bhi 75% rebate hai (FULL TIME RESEARCH AND FACULTY wala).

Kindly rehnomai kardain.

[daneyal13]

NEW letter regarding procedure for payment of Surcharge is posted on fbr website.

http//www.fbr.gov.pk/tempFiles/ITAXSurchargePaymentProcedure.pdf

[nomanejaz2009]

Mujhe yeh maloom karna hai k monthly salary se flood tax 15% ks tarah leenge!! for example ek employee ka salary tax for the year 12,000 banta hai aur us ka monthly 1000 banta hai!! lakin agar kise waja se year k start mein us ka tax 500,500 kata hoo, kiun increment agust k bad hote hai is liye tax working pta nahi ho sakti hai!! phr to hm for example march mein us k 1000 kb bajaye jo actual banta hai nahi deduct kar raha hai aur 1500 deduct kar rahe hain, to plz mujhe bataye hm 15000 ka 15% lenge ya 1000 ka., thanks in advance

[LapTop]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by nomanejaz2009</i>
<br />Mujhe yeh maloom karna hai k monthly salary se flood tax 15% ks tarah leenge!! for example ek employee ka salary tax for the year 12,000 banta hai aur us ka monthly 1000 banta hai!! lakin agar kise waja se year k start mein us ka tax 500,500 kata hoo, kiun increment agust k bad hote hai is liye tax working pta nahi ho sakti hai!! phr to hm for example march mein us k 1000 kb bajaye jo actual banta hai nahi deduct kar raha hai aur 1500 deduct kar rahe hain, to plz mujhe bataye hm 15000 ka 15% lenge ya 1000 ka., thanks in advance

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1500 par