08-31-2010, 05:05 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by [email protected]</i>
<br />Dear All,
I've recently registered a new un-listed private firm.
I have few questions to ask
1. Whether i need to deduct tax on salary if all the employees are contractual.
2. How can i create provision for taxation?
Looking for your kind reply
Ali
[email protected]
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
What if have understood is that you have frrormed a Pvt Limited company. As per Inome tax ordinance, 2001, you are required to deduct tax on all payments made to parties and employees with few exceptions.
By employees on contract, if you mean that you have contracted to receive services of certain persons then you are required to deduct tax @ 6% and if you mean that your employees are on contract working on full time basis then you are required to deduct tax on salary rates.
<br />Dear All,
I've recently registered a new un-listed private firm.
I have few questions to ask
1. Whether i need to deduct tax on salary if all the employees are contractual.
2. How can i create provision for taxation?
Looking for your kind reply
Ali
[email protected]
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
What if have understood is that you have frrormed a Pvt Limited company. As per Inome tax ordinance, 2001, you are required to deduct tax on all payments made to parties and employees with few exceptions.
By employees on contract, if you mean that you have contracted to receive services of certain persons then you are required to deduct tax @ 6% and if you mean that your employees are on contract working on full time basis then you are required to deduct tax on salary rates.
