Deemed Income Tax 7E | How to calculate 1% Income Tax | Exemption on Income Tax | FBR |

7E. Tax on deemed income.- (1) For tax year 2022 and onwards, a tax shall be imposed at the rates specified in Division VIIIC of Part-I of the First Schedule on the income specified in this section.
(2) A resident person shall be treated to have derived, as income chargeable to tax under this section, an amount equal to five percent of the fair market value of capital assets situated in Pakistan held on the last day of tax year excluding the following, namely:–
(a) one capital asset owned by the resident person;
(b) self-owned business premises from where the business is carried out by the persons appearing on the active taxpayers’ list at any time during the year;
(c) self-owned agriculture land where agriculture activity is carried out by person excluding farmhouse and land annexed thereto;
(d) capital asset allotted to –
(i) a Shaheed or dependents of a shaheed belonging to Pakistan Armed Forces;
(ii) a person or dependents of the person who dies while in the service of Pakistan armed forces or Federal or provincial government;
(iii) a war wounded person while in service of Pakistan armed forces or Federal or provincial government; and
(iv) an ex-serviceman and serving personal of armed forces or ex-employees or serving personnel of Federal and provincial governments, being original allottees of the capital asset duly certified by the allotment authority;
(e) any property from which income is chargeable to tax under the Ordinance and tax leviable is paid thereon;
(f) capital asset in the first tax year of acquisition where tax under section 236K has been paid;
(g) where the fair market value of the capital assets in aggregate excluding the capital assets mentioned in clauses (a), (b), (c), (d), (e) and (f) does not exceed Rupees twenty-five million;
(h) capital assets owned by a provincial government or a local government; or
(i) capital assets owned by a local authority, a development authority, builders and developers for land development and construction, subject to the condition that such persons are registered with Directorate General of Designated Non-Financial Businesses and Professions.
(3) The Federal Government may include or exclude any person or property for the purpose of this section.
#deemed_rental_income_tax_7e
#deemed_rent_income_tax_section
#deemed_tangible_income_return
#deemed_rent_income_tax
#is_rental_income_tax_exempt
#deemed_rental_income_on_commercial_property
#deemed_rental_income_pakistan
#is_rental_income_taxable_in_pakistan
#deemed_tax_pakistan
#pakistan_rental_income_tax
#Taxationist #TaxationistCorporateConsultants #TaxLawayerInRawalpindi #TaxLawyerInIslamabad #Tax #law #FederalBoardOfRevenue #FBR #SECP #SecurityExchangeCommissionOfPakistan #CorporateLawyer #BestTaxConsultantInRawalpindi #KhurramShahzadAslam #KhuramShahzad #KhurramShahzadDawar
#gstindia #ca #gstupdates #gstr #accounts #payroll #taxservices #taxprofessionals #startup #auditing #entrepreneur #commerce #incometaxindia #accountants #taxpro #taxservice #businessaccounting #financialfreedom #icai #taxaccountant #incometaxseason #businessowner #cpa #itr #taxcollection #taxfree #taxday #vat #accountancy #taxmoney
#taxation #tax #taxes #accounting #accountant #taxseason #incometax #business #finance #taxrefund #taxplanning #gst #taxreturn #taxprofessional #taxpreparer #taxtips #bookkeeping #taxconsultant #taxpreparation #charteredaccountant #irs #audit #taxtime #taxhelp #smallbusiness #incometaxreturn #india #taxprep #accountingservices #money
_______________________________________________________________________
Short Company Profile:
Taxationist Corporate Consultants is a key regional player in tax, corporate consulting and advisory services field within the Pakistan; providing top notch services to the various sectors.
Taxationist's services are grouped into four main categories: Tax Corporate Accounting Legal & Financial Advisory
𝓥𝓲𝓼𝓲𝓽 𝓒𝓸𝓶𝓹𝓪𝓷𝔂 𝓟𝓻𝓸𝓯𝓲𝓵𝓮:
𝓦𝓱𝓪𝓽𝓼𝓪𝓹𝓹: +923105197057
𝓞𝓯𝓯𝓲𝓬𝓲𝓪𝓵 𝓔𝓶𝓪𝓲𝓵:: [email protected]
𝓦𝓮𝓫: https://taxationist.com/
𝓕𝓪𝓬𝓮𝓫𝓸𝓸𝓴 𝓟𝓪𝓰𝓮: https://web.facebook.com/TaxationistC..
𝓛𝓲𝓷𝓴𝓮𝓭𝓘𝓷 𝓟𝓪𝓰𝓮: https://www.linkedin.com/company/taxa..
𝓨𝓸𝓾𝓣𝓾𝓫𝓮 𝓒𝓱𝓪𝓷𝓷𝓮𝓵: https://www.youtube.com/c/Taxationist...
𝓣𝔀𝓲𝓽𝓽𝓮𝓻 𝓗𝓪𝓷𝓭𝓵𝓮: https://twitter.com/taxationistcorp
------------------------------------------------------------------------------------------------------------------------

Presenter Profile:
Mr. Khurram Shahzad Aslam is authorized tax practitioner licensed by Federal Board of Revenue [FBR], CMA (Fin) and member Rawalpindi Islamabad Tax Bar Association [RITBA], emanates with extensive past ten years of experience in construction, retail, development sector, telecom and consultancy services with world’s renowned big-wigs like KPMG, RSM International and WTS Global.
Socialize:
𝓦𝓱𝓪𝓽𝓼𝓪𝓹𝓹: +923105197057
𝓔𝓶𝓪𝓲𝓵: [email protected]
𝓛𝓲𝓷𝓴𝓮𝓭𝓘𝓷 𝓟𝓪𝓰𝓮: https://www.linkedin.com/in/khurram-s..

Тэги:

#deemed_rental_income_tax_7e #deemed_rent_income_tax_section #deemed_tangible_income_return #deemed_rent_income_tax #is_rental_income_tax_exempt #deemed_rental_income_on_commercial_property #deemed_rental_income_pakistan #is_rental_income_taxable_in_pakistan #deemed_tax_pakistan #pakistan_rental_income_tax

Скачать видео