01-23-2011, 01:00 AM
Dear LapTop,
Firstly, thank you for creating such a valuable topic.
Kindly give your guidance regarding following matters of withholding taxes
i. We usually withhold tax from suppliers and deposit it into bank manually, however now the bank says that from now onwards it will accept only computerized payment.We have now e-enrolled with fbr and shall be paid accordingly. The question is that if there is any time limit in which we have to deposit these taxes (withholding and income tax from employees)and if we fail to deposit within that specified time, then what is the % of penalty.
ii. What are the statements/returns are required in our case. I mean we withhold taxes from suppliers and deduct taxes from salaries of our employees.
thanking you and best regards,
iii.
Firstly, thank you for creating such a valuable topic.
Kindly give your guidance regarding following matters of withholding taxes
i. We usually withhold tax from suppliers and deposit it into bank manually, however now the bank says that from now onwards it will accept only computerized payment.We have now e-enrolled with fbr and shall be paid accordingly. The question is that if there is any time limit in which we have to deposit these taxes (withholding and income tax from employees)and if we fail to deposit within that specified time, then what is the % of penalty.
ii. What are the statements/returns are required in our case. I mean we withhold taxes from suppliers and deduct taxes from salaries of our employees.
thanking you and best regards,
iii.