Tax on Salary

[haque]

I am salaried person. My total salary for tax year is 5, 40,000 Rs. My tax has already been deducted from my salary by my employer.I am also getting some profit on my savings kept in saving account of Bank but again income tax is being deducted by bank. Am I still required to fill tax form?

[LapTop]

Yes

[haque]

Thanks for your reply. Can you please further clarify that am I suppose to fill salaried person tax form only or wealth tax form or both forms.

[LapTop]

Your taxable income grater then 500000/=, you need to submit wealth statement with income tax return.

[haque]

Thanks alot !

[jamesparker]

Hi

i think the tax amount on your salary is 500000/= I think you have to show your income statement in tax office.

[umarlibra]

Assalam-o-Alaikum,
Kindly send me the topic file at [email protected].
I shall remain thankful to you for rest of my life.

Regards,

Umar

[shakilicma76]

<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 />Your taxable income grater then 500000/=, you need to submit wealth statement with income tax return.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

I NEED REFERENCE OF ABOVE.

THANKS

SHAKEEL GHAZIANI

[shakilicma76]

You or your employer will responsible to your return and wealth statement. Wealth statement if applicable.

[LapTop]

<b>115. Persons not required to furnish a return of income.-</b> (1) Where the entire income of a taxpayer in a tax year consists of income chargeable under the head “Salary”, Annual Statement of Deduction of Income Tax from Salary, filed by the employer of such taxpayer, in prescribed form, the same shall, for the purposes of this Ordinance, be treated as a return of income furnished by the taxpayer under section 114
Provided that where salary income, for the tax year is five hundred thousand rupees or more, the taxpayer shall file return of income electronically in the prescribed form and it shall be accompanied by the proof of deduction or payment of tax and wealth statement as required under section 116.


<b>116. Wealth statement.- </b> (2) Every resident taxpayer filing a return of income for any tax year, whose last declared or assessed income 5[or the declared income for the year, is five hundred thousand rupees or more shall furnish a wealth statement and wealth reconciliation statement for that year along with such return.

[Sheraz Ahmad]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by haque</i>
<br />I am salaried person. My total salary for tax year is 5, 40,000 Rs. My tax has already been deducted from my salary by my employer.I am also getting some profit on my savings kept in saving account of Bank but again income tax is being deducted by bank. Am I still required to fill tax form?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

Assalamoalaykum to All!

Dear Haq!

You must e-file your return with wealth statement as a reason mentioned above by Laptop.

In this connection,You have an opportunity to adjust the Salary tax with all your withholding taxes i.e u/s 235,236,234,151(a,b,c) & 231(a)in your annual income tax return now & in future.

Regards
Duaoon ka talabgar

<b>Abu_Muaviyah</b>
[email protected]

[LapTop]

Download-LinkTax calculator 2009-2010.xls http//www.megafileupload.com/en/file/134523/Tax-calculator-2009-2010-xls.html

[shakilicma76]

Who is responsible to file return employee or employer?

[Sheraz Ahmad]

Registered Tax Personnel or Authorized Person on behalf of Tax Payee

[hshamsi]

shakilicma76

usually employer files statement on behalf of all employees of the org as it is registered havin NTN no, bt if employee has other source of income as well n taxable income from all sources exceeds the prescribed threshold, thn employee is required to file return of income from all sources including salary income.

regards