06-22-2006, 04:47 PM
Aslam u alaikum
Dear Abdur.Rehman
Thanx for your response; waise CBR kitna acha hai k woh in case of total export hamare sir par koi liability nahi rakhna chahta
Hamari export proceeds hi main se .75% (I think you have confirmed it from seventh schedule of Income tax ordinance, 2001) bank deduct kar le ga aur hamari liabiliy nil ho gee. Just apni return main dikha dain ge k all full and final tax liability has been already been deducted.\
Acha it means k tax liability export proceeds par hai na k total exports par... I mean to say hum ne export kar dee hai.. risks and rewards have been transferred but the proceeds have not been received by us then whether we have to submit the tax or not..
iss k illawa not total of our product is export and we are also running a cold storage and ice manufacturing unit with it. So the total of our expenditures would be apportioned between our export and local revenue and than taxable profit would be determined aur uss par tax. M i right?
Thank you for your response and thank you in anticipation for the next response... ;-)
Dear Abdur.Rehman
Thanx for your response; waise CBR kitna acha hai k woh in case of total export hamare sir par koi liability nahi rakhna chahta
Hamari export proceeds hi main se .75% (I think you have confirmed it from seventh schedule of Income tax ordinance, 2001) bank deduct kar le ga aur hamari liabiliy nil ho gee. Just apni return main dikha dain ge k all full and final tax liability has been already been deducted.\
Acha it means k tax liability export proceeds par hai na k total exports par... I mean to say hum ne export kar dee hai.. risks and rewards have been transferred but the proceeds have not been received by us then whether we have to submit the tax or not..
iss k illawa not total of our product is export and we are also running a cold storage and ice manufacturing unit with it. So the total of our expenditures would be apportioned between our export and local revenue and than taxable profit would be determined aur uss par tax. M i right?
Thank you for your response and thank you in anticipation for the next response... ;-)
