11-03-2011, 05:45 AM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by quaidian</i>
<br />I followed the whole discussion thread but it didn't answer
1- how to adjust tax against PTCL bill and how to adjust if phone is not at your name
2- what if after adjusting all withholding tax need to further pay as your employer has deducted less than you are actually supposed to pay
3- if you don't submit return by a deadline date then what happens?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
On each PTCL bill you may find withholding tax deducted by PTCL u/s 236. If you don't have the bill but you know its amount you may calculate tax by looking at Division V of Part IV of the First Schedule to the Income Tax Ordinance, 2001. According to said Div V, you will find that no tax is deductible if amount of bill is less than 1000 rupees. ON amount exceeding Rs.1000, deduction is 10% of the exceeding amount.
Whether one is allowed adjustment where telephone is not in your name? In the case of employee, his employer is not allowed to adjust withholding tax paid on telephone under section 149 if telephone connection is not subscribed in the name of employee. Circular 18 of 2004 prevents employer from allowing adjustment in such case.
http//www.fbr.gov.pk/Docs/20101130121146234062004cir18.htm
however, law simply says that tax paid in respect of telephone is adjustable u/s 168(3). So when one is preparing his own return, he should take credit for tax paid in respect of telphone whether it is not in its name. Department may object but there is ample room to fight. ONly thing that one may substantiate is that telephone is in the use of taxpayer and he pays bills therefor.
If employer has deducted tax less than the actual liability, the taxpayer should pay balance tax by the due date. due date is date of filing return [section 137]
<br />I followed the whole discussion thread but it didn't answer
1- how to adjust tax against PTCL bill and how to adjust if phone is not at your name
2- what if after adjusting all withholding tax need to further pay as your employer has deducted less than you are actually supposed to pay
3- if you don't submit return by a deadline date then what happens?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
On each PTCL bill you may find withholding tax deducted by PTCL u/s 236. If you don't have the bill but you know its amount you may calculate tax by looking at Division V of Part IV of the First Schedule to the Income Tax Ordinance, 2001. According to said Div V, you will find that no tax is deductible if amount of bill is less than 1000 rupees. ON amount exceeding Rs.1000, deduction is 10% of the exceeding amount.
Whether one is allowed adjustment where telephone is not in your name? In the case of employee, his employer is not allowed to adjust withholding tax paid on telephone under section 149 if telephone connection is not subscribed in the name of employee. Circular 18 of 2004 prevents employer from allowing adjustment in such case.
http//www.fbr.gov.pk/Docs/20101130121146234062004cir18.htm
however, law simply says that tax paid in respect of telephone is adjustable u/s 168(3). So when one is preparing his own return, he should take credit for tax paid in respect of telphone whether it is not in its name. Department may object but there is ample room to fight. ONly thing that one may substantiate is that telephone is in the use of taxpayer and he pays bills therefor.
If employer has deducted tax less than the actual liability, the taxpayer should pay balance tax by the due date. due date is date of filing return [section 137]
