7E Who will file | Remember Four things before filing of Tax Return | Exemption

7E Who will file | Remember Four things before filing of Tax Return | Exemption | Complete Lecture |

Рет қаралды 25,672

10 ай бұрын

Anyone interested to learn Pakistan taxation including E-Filing of both sale tax and income tax please WhatsApp or call at 03007574731.
Click on below WhatsApp link for further details of Practical Taxation Course
wa.me/923007574731?text=Pract...
Income tax Includes
1. Section-149 Income from Salary
2. Section-155 Income from Property
3. Section-153 Payment of goods, service and contract
4. Section-147 Advance income tax
5. Section-148 Import
6. Section-231AA and 236P Advance tax on certain banking transection
7. Section-231B Advance tax at the time of registration of private motor vehicle
8. Section-235A Tax collection from domestic electric bills
9. Section-236 Tax collection from telephone users
10. Section-236B Advance tax on purchase of domestic air ticket
11. Section-236F Advance tax on cable operator and other electronic media
12. Section-236G Advance tax on sale to distributor, dealer and wholesalers
13. Section-236H Advance tax on sale to retailers
14. Section-236I Advance tax by educational institutions
15. Section-236U Advance tax on insurance premium
16. Section-236X Advance tax on Tobacco
17. Section-236Y Advance tax on remittance abroad through credit, debit or prepaid cards
18. Fine and penalties
19. Section-177 Audit
20. Treatment of provision for bad and doubtful debts
Sale Tax Includes
1. What is sale tax or indirect tax and concept of VAT
2. Difference between Input and Output tax
3. Further tax and extra tax
4. Calculation of Sale tax
5. Advance sale tax
6. Withholding Sale tax
7. Debit and credit notes
8. Admissible credit
9. Annexure A, B, C, F,H, J and I with practical example
10. Supply and purchase register
11. Stock or consumption sheet
12. Concept of Punjab Revenue Authority (PRA) and Sindh Revenue Authority (SRB)
E-Filing
1. Monthly sale tax return
2. Withholding Statement
3. Reconciliation of sale tax return
4. Reconciliation of wealth
5. Annual income tax return of Salary Individual
6. Annual income tax return of Company
7. Annual income tax return of Business Individual / Retailer or Trader
8. Annual income tax return of AOP
All above section will be cover with practical example and online filing.
Regards,
Faheem Mehboob
ACCA Member
03007574731

Пікірлер: 346

@mashhadiservicez3164 2 ай бұрын

Very Informative and helpful Video, MashaAllah keep it up sir,

@faheempracticallearning 2 ай бұрын

👍

@user-zm4bs5um8b 6 ай бұрын

awsome video faheem sahib

@faheempracticallearning 6 ай бұрын

👍

@MuhammadNasir-mq7up 10 ай бұрын

Thanks for Very good and informative video. Kindly keep up.

@faheempracticallearning 4 ай бұрын

👍

@hafeezurrehman154 10 ай бұрын

ماشاءاللہ۔ جزاک اللہ خیرا فی الدارین سر۔ انتہائی معلوماتی اور جامع

@faheempracticallearning 4 ай бұрын

👍

@user-xi8uj7hp8x 10 ай бұрын

Very informative lecture. May Allah bless U

@faheempracticallearning 4 ай бұрын

👍

@babarishaq6822 4 ай бұрын

AOA.. Very nice and briefly discuss every aspect of 7E ... appreciable..

@faheempracticallearning 4 ай бұрын

W.salam 👍

@TheKhunda 10 ай бұрын

Mashallah very well explained, keep up the good work

@faheempracticallearning 10 ай бұрын

👍

@muhammadharoon-ur-rasheedb14 10 ай бұрын

Great person, very informative,Always ur fan, Have a blessed life...

@faheempracticallearning 4 ай бұрын

👍

@saeedghauri6689 10 ай бұрын

Best video on 7/E

@faheempracticallearning 4 ай бұрын

👍

@olivergold513 10 ай бұрын

Sir your method of explanation is very good. Thanks

@faheempracticallearning 10 ай бұрын

👍

@pakdharti3074 10 ай бұрын

Appreciated approach

@faheempracticallearning 4 ай бұрын

👍

@kamrankhanshairani5203 10 ай бұрын

I have also rechecked , and generated this certificate for few people .

@faheempracticallearning 10 ай бұрын

Yes now available, but still many issues

@UMAIRGULZARVOHRATAX 10 ай бұрын

Very well explained sir

@faheempracticallearning 4 ай бұрын

👍

@muhammadyousuf-vz8vv 4 ай бұрын

بہت زبردست

@faheempracticallearning 4 ай бұрын

👍

@muhammadabuzarllb-m4055 4 ай бұрын

MASHALLAH SIR APPRECIATED

@faheempracticallearning 4 ай бұрын

👍

@msahilmultipal4506 10 ай бұрын

Great brother ❤❤❤

@faheempracticallearning 10 ай бұрын

👍

@nisarahmed9451 10 ай бұрын

Cexcelent way of explantion

@faheempracticallearning 4 ай бұрын

👍

@mbqamar7892 10 ай бұрын

Very informative

@faheempracticallearning 10 ай бұрын

👌

@zaheerhaq1893 10 ай бұрын

Zabardast information

@faheempracticallearning 10 ай бұрын

👍

@anwaralibana6786 9 ай бұрын

bohat achha

@faheempracticallearning 9 ай бұрын

👌

@haroonurrashid 10 ай бұрын

What value/cost should we mention against inherited property. Should it be zero ? Thanks

@uobserve1153 10 ай бұрын

Please respond, very relevant. I would like to know treatment of inherited property now just transferred in the name of 4 brothers. How to declare?

@aamirabbas5250 10 ай бұрын

In wealth statement declare that without value.

@ntechlearninghub 10 ай бұрын

Sir thank you very much for such useful videos. I have question that what about tax already paid on purchase of property. How to adjust that tax while filling 7 E form.

@thn594 10 ай бұрын

Subtotal row/cell’s colour/font(size etc) may be shown in different style from normal entries. It would be easy to find/recognise subtotal of each GROUP/CODE in one sight. I think peoples would appreciate if it is done by FBR.

@faheempracticallearning 10 ай бұрын

Yes agreed

@SyedAsif-tr3zb 5 ай бұрын

Masahallah jee

@faheempracticallearning 5 ай бұрын

👍

@Tofique 10 ай бұрын

Nice one

@faheempracticallearning 4 ай бұрын

👍

@mrizwanbhutta 10 ай бұрын

Sir kindly 🙏 hr topic ki aik separate Playlist bna dn jis ma us topic sa related all videos available hn

@nasirahmad7691 10 ай бұрын

First thanks for your informative lecture on tax returns but again repeating the same question that what cost of inherited property or a gift should be mentioned on tax return? Thanks again

@zafarabbas9773 4 ай бұрын

Same question, sir plz reply

@ShahzadAli-kg2et 10 ай бұрын

Sir, MashaAllah, this is a very concise, comprehensive, relevant, and helpful video on the subject topic. Could you tell us about the tax rate assuming that a specific property is under the 7E tax liability? Further, tell us will it be an annual tax liability??

@faheempracticallearning 10 ай бұрын

Rule is 1% of fair market value, but due to court decision, it was hold , with return we need to pay 1% of cost, till Decision

@faheempracticallearning 10 ай бұрын

It is annual

@FarooqMuhammad-nv8un 10 ай бұрын

Whether it is better to mark "exempt" one property or mark all three properties "not exempted" under section 7E in tax return 2023 if accumulated fair market value of all three properties is still below 25 million .

@user-ld1yv3ox7d 10 ай бұрын

It is very interesting and informative. Please let me the advance for purchase

@MuhammadZeeshan-fc4kl 10 ай бұрын

Informative explanation. Thanks for this.

@faheempracticallearning 10 ай бұрын

👍

@saleemshaukat1500 10 ай бұрын

aoa sir mene plot ki aik value 4 million 2 property likhi, cost value mene 26 million likhi the lakin iris ne cost ki bajea fair market value pr tax nikaal dia tha, jab cost pr tax hona chahiye tha.

@altafawan3652 10 ай бұрын

Assalam o Aliakum Self hiring salary person iris main kiss Tarah show Kr skty hain. Please mention complete details

@abidnaeem605 10 ай бұрын

Is “Property Purchased on Others Name” also required to be added in form 7E? Please advise

@user-mk4he2vb9l 10 ай бұрын

Sir kia karachi yani outside Punjab main bhi 7e yani deem income form main fair market value kia cost he likhi jaye jee karachi main out side punjab? Thanks sir,.

@ntechlearninghub 10 ай бұрын

Sir, I like your videos very much. There is an issue that a person previously declared inherited 20 animals cattle farm with value Rs. 0. Due to breeding now he has 30 animals. How this addition in asset be updated. Secondly is income from farm falls in agriculture if not how to declare it. Your guidance is required. I will be great full.

@saleemshaukat1500 10 ай бұрын

sir jo property hamari other assets me ha jo hamare name pr ni ha, parents ki ha wo b hame show krna 7E me? parents me agr dono available na ho to us condion me kia krna chahiye?

@saeedghauri6689 10 ай бұрын

Jo property registered nahi blder ko instments pay hoti hai. Hain us ki sale deed nahi hui hui hay to us ko kaisay enter karain k yeah open file hoti hai blder transfer kerta ha

@imranmustafa1913 10 ай бұрын

If already file return should I revise with 7e or not at that time in the wealth statement all property declared? Now only return can be revised please advise

@ranarajpoot5440 9 ай бұрын

محترم فہیم صاحب اسلام علیکم! محترم آپ کی وڈیو ہمارے لئے بہت کار آمد ہوتی ہیں اللہ آپ کو جزائے خیر دے۔ آمین میرا سوال یہ ہے کہ جن لوگوں نے اپنی ریٹرن فائل کر دی ہوئی ہے کیا انہوں نے بھی 7e کا فارم اپ ڈیٹ کرنا ہے ؟ اور اگر کرنا ہے تو کیا پروسس ہو گا ؟ براہ کرم رہنمائی کر دیجئے گا نوازش ہو گی

@faheempracticallearning 9 ай бұрын

If you have property in your return,thn need to submit 7e,

@ranarajpoot5440 9 ай бұрын

@@faheempracticallearning اب کہاں آپشن ملے گی 7e فارم سبمٹ کرنے کی ؟ revised return کی آپشن کہاں ملے گی ؟

@faheempracticallearning 9 ай бұрын

@@ranarajpoot5440 check lecture of return revision

@nisarahmed9451 10 ай бұрын

Sir meri sari property fbr mein registered hai sirf aik residential house jiss kee cost value 20lac hai wo enter nahi hai wo mujhy wirast mein mila hai kia ab return mn us ko add kar dn wo add kar k bhi 25M se kam hai hai aur kia wo examped ho ga ya 25M se kam kee waja se all examped ho ga kindly answer me

@yazdaanali4213 4 ай бұрын

zabardast

@faheempracticallearning 4 ай бұрын

👍

@AliZainOnline 10 ай бұрын

Is it safe to add detail into existing house address. For example "House No. 123-East" whereas in previous return it was "House No. 123" only?

@amirsajjad8976 10 ай бұрын

AoA Sir in case of inheritance property account for with Rs. Nil thn?

@mudassarjehan381 10 ай бұрын

I have only one house residential uper portion is on rent, annual less than 3 lack. Will I use 7E.

@saanihashmi214 10 ай бұрын

Good

@faheempracticallearning 4 ай бұрын

👍

@muhammadumair-qj8cx 9 ай бұрын

SIR. Is it necessary for non resident pakistani to fill 7e form for their property or is it enough to declare properties directly in wealth statement. As you know that for non resident 7e tax is exempt.

@yasir3566 9 ай бұрын

Sir kindly aik video section 153 (1A) pe bana de. Mere pas net metering ha or K electric uspe pehle 4.5 % of sale electricity pe pase kat rahe thi ab 5.5 k hisab se deduct hu rhe bill se. Lekin issue yeh ha k k electric abhi tek uska certificate nai deti bs bill pe mention hota ha clause or amount. Tu kia ise ham return ma mention krle or adjust krle. Kindly elaborate. Jazak Allah

@user-ld1yv3ox7d 10 ай бұрын

Whether advance for purchase of plot will be added for 7 E

@muhammadumaraslam2298 10 ай бұрын

Very detailed video but I have a question. While filing returns, as you said to file property in tax adjustment section and once I did that, it was not showing in wealth statement in commercial property column however its value was added in my wealth statement. If I manually add my property in commercial property section in wealth statement after filing it in tax adjustment section as well, the amount is added twice. Should I add my property in only tax adjustment section us 7E and not add it in commercial property section in wealth statement?

@faheempracticallearning 10 ай бұрын

Yes in some return form, it is technical issue, also same mentioned in lecture if anyone facing issue , thn wait some days thn file, because from backend system is changing on daily basis

@muhammadumaraslam2298 10 ай бұрын

Ok, thanks

@imranakram7286 10 ай бұрын

Sir i have only file but no plat number assigned so where sholud i mention such file in IRIS.

@P4Passions 10 ай бұрын

Sir I have one property of 120 yards home , where I live. I also getting rent from my govt department as I did self hiring of my house requisition of same house (as per rule). Now tell me is it exempted or not, tax on rent is already deducted by my govt department. please reply

@ahmadafzal5109 10 ай бұрын

Sir mre father ne 1998 ma 1 property buy ki thi 1M rupees ma. Ab mje wo property inheritance ma mili ha. Is waqt FMV 50M ha. To ma apne return ma kn si value show kro both property tab and 7e ma?

@Carspak322 10 ай бұрын

Partial paid plot file ko 7e mein fill karna ha, no registry so far?

@zeeshanazhar5849 10 ай бұрын

Sir jiss ki inherited rented shops ho to unn par 7E tax laagu hongi

@maheenmohsin8177 10 ай бұрын

Sir, kindly explain how to declare or incorporate property details which are on installment basis. Likewise, flat or apartment.

@faheempracticallearning 10 ай бұрын

same as normal plot

@kdft9875 10 ай бұрын

Very informative, to the point and very timely piece of work. Great work. Just one query if a person has two properties. One house allotted by govt on retirement. Second house is purchased. This also comes in exemption as one property self owned or occupied. Is this proposition in order or we can only take exemption of any one of them. Thanks

@faheempracticallearning 10 ай бұрын

Yes

@kdft9875 10 ай бұрын

Thanks for quick response. My query still persist. Let me simplify it further. Will both the properties be exempted or only one out of them. Thanks

@faheempracticallearning 10 ай бұрын

@@kdft9875 yes both, same replied

@kdft9875 10 ай бұрын

@@faheempracticallearning thank you so much. 💐

@UMAIRGULZARVOHRATAX 10 ай бұрын

Kindly also update on property cost value of inherited at zero in previous return recommended method too please

@faheempracticallearning 10 ай бұрын

yes many questions, i will explain in coming lecture.

@P4Passions 10 ай бұрын

Please explain asap about inherited property previously at zero cost, how to treat this property in 7E

@shahidjaved9144 10 ай бұрын

Sir please elaborate in detail about inherited property already shown at zero cost in previous returns.

@waqasalamauisb9856 10 ай бұрын

I have 4 resedential plots and their total accumulative cost and FMV is approximately 0.7 Million. Will all these 4 properties will be exempted

@zmukati 10 ай бұрын

What about plot or apartment file? How to declare? Is this exempted from 7E?

@Wbuttar 10 ай бұрын

Sir.... tax is to paid on exceeding anout of 25 million or on while amout of the assets beyond threshold limit

@faheempracticallearning 10 ай бұрын

if after exemption values increased from 25 million thn on all amount

@mohammadikram1366 10 ай бұрын

How would we calculate FMV if we have 400 sq. yards plot and having 200 sq. yards construction on it. The given value of fbr will multiply by plot size or covered area?

@muddassirsaeed2463 10 ай бұрын

Local area he to plot chala do koi authority he to buildup lena parey ga rate

@sadsam4569 10 ай бұрын

If a property is jointly owned by two brothers than how do we declare the property in the 7e form.

@ziaurrehmanmuhammad 10 ай бұрын

Asslamualekum ! My Question is , I have one flat Karachi on my wife name cost around 3.5 M and recorded in my return since 2019 and second i have purchase residental plot in Punjab in TY 2022 Rs. 1.5 M . Pls. guide about showing in 7 E form? Y/N

@razatayyab1395 10 ай бұрын

As of now, what valuation (cost or fbr) will be used in 7E for 25m and then tax amount computing?

@faheempracticallearning 10 ай бұрын

Watch complete lecture, already explained

@kaleemkhan4932 10 ай бұрын

Rental property exempt ho jaye gi. Lakin agr commercial plots (white plots) 25m se zyada hy to is tax main fall kre gi?

@ashokkhatri1764 10 ай бұрын

What about inherited property... Please guide

@shahidjaved9144 10 ай бұрын

Sir please elaborate in detail about inherited property already shown at zero cost in previous returns.

@muddassirsaeed2463 10 ай бұрын

Ap ne jo bi rate liye us se koi farq ni parhta .. 7e k rate fbr ne diye hen wohi len gey ap

@tahirjavaidanjum3995 10 ай бұрын

FGEHF has given/ alloted plot to retired Federal government employee ,is it exempt in 7E form. Please guide.

@imranbaig9767 10 ай бұрын

As Salam alaikum Sir main Govt. Employe hon. Main nay apnay zati Ghar ko hire kerwaya ha matlab k mujhay self hired requisition milti ha is ka kia treatment ho ga 7e main

@user-yn4te6cx5t 10 ай бұрын

Sir I am living with my family in a flat on rent in Karachi. We have old house in rural area outside Karachi, my son with his family living there. House costed about 1M in 1985. Is this house tax exempted or must be declared in 7E for exemption. Kindly guide

@UMAIRGULZARVOHRATAX 10 ай бұрын

Sir kindly share the court order screenshot quote to show at vist value instead of fair market value. For reference please 😊

@faheempracticallearning 10 ай бұрын

Watch high court order lecture, and note WP number easily you can search on download

@CRICKETFOOTBALLTENNIS 10 ай бұрын

COST VS FVM KI SIR ENTRY KAR K PRACTICAL BATA DETY K TAX COST PA PAYE KARNA HA

@Ahmed-Omair 10 ай бұрын

How to find fair market value and we will feed fair market value or cost price in wealth statement

@abdurraufabbasi8760 9 ай бұрын

This is a systematic way to decrease foreign remittance. 7E will be a big discouragement for people having legal earning sources. Those having black money will have no problem. Those who earned money abroad and invested in Pakistan will lose a lot of money in addition to currency devaluation impact.

@AtifAtif-vv3sd 8 ай бұрын

Sir agr kisi k name per aik hi property hai who 7e ka form fill kry ga

@P4Passions 10 ай бұрын

Please explain asap about inherited property previously at zero cost, how to treat this property in 7E

@faheempracticallearning 10 ай бұрын

Yes sure, one logical lecture I will upload

@art.ist_rules_ 10 ай бұрын

In Form 7E if the values all properties (Except exempted properties) are above 250M then it will calculate tax. FBR will also observe that in 2022 return the taxpayer has not declared his property as Rental, Agricultural Activity, business activity etc and now taxpayer is trying escape from 7E tax and make a false documents like Agricultural tax, Rent agreement etc then the taxpayer may face show cause notice and investigation. 7E form is mandatory to file by all taxpayer except non resident. Am i correct plz reply

@faheempracticallearning 10 ай бұрын

not false, it must actual and also need to have evidence, pls watch my previous lecture, for planning of 7E income tax, for better understanding. 2nd income situation any time can be changed, by taxpayer, because tax have right.

@qaisarnaseer8588 10 ай бұрын

Sir aap nay jo non resident kay lia option batai hay wo to jab aap non resident ki return load kertay hain, wo pora ayta he nahi. Sirf tax adjustable are wealth ayte hay.

@faheempracticallearning 10 ай бұрын

File normal return, if non resident person have property in pak

@AliHassan-xw9cl 4 ай бұрын

Agar 2024 ty mein property purchase ki ho or abh sale krni ho to uska 7e form kesay download hoga?

@faheempracticallearning 3 ай бұрын

If sale and purchased same year not required as per law, provided 236K paid.

@Arslan3325 10 ай бұрын

If after taking an exemption on any one highest MV plot will the tax apply only on excess property worth above 25 Million ? Or if other property total is more than 25 Million then tax is applied on whole amount ?

@faheempracticallearning 10 ай бұрын

Total value, not excess

@kamranshabbir6258 10 ай бұрын

Salam Sir, what does it mean by fair market value in FORM 7E?, either this is the value as per the valuation table of property? please elaborate

@faheempracticallearning 10 ай бұрын

Yes as per valuation

@shahidbashir777 10 ай бұрын

Inherited lands plot / house values of tax & exemption treat in 7E justification please

@razatayyab1395 10 ай бұрын

If this year property A is claimed for examption and next year can we claim properrty B instead of A?

@faheempracticallearning 10 ай бұрын

Normally it would be same, but yes we can changed, my properties, I can move to other house. Like this logic

@tanveee3335 9 ай бұрын

KPK main b court in hold kia hain ?

@wasimasgharsatti7295 7 ай бұрын

😊😊😊

@faheempracticallearning 7 ай бұрын

👍

@shahidasghar7445 10 ай бұрын

Sir One plot which not fall in exempt category list but value is less than 25 million. we will select it as a exempted or not exempted.

@faheempracticallearning 10 ай бұрын

Exempt

@Khalil-lr8vm 10 ай бұрын

Do you think one Should declare previous propertyies in 236k and reserve one assets examption for future?

@faheempracticallearning 10 ай бұрын

no, it must be in same year

@Khalil-lr8vm 10 ай бұрын

Thank you

@haroonansari1235 10 ай бұрын

If rented properties more than two or three or four, all properties will be exempted whatever their values are. Or only one rented property will be exempted.

@faheempracticallearning 10 ай бұрын

Yes provided, rental income must be declared in tax return, to prove that, it is genuine

@Sardheri 10 ай бұрын

I declared my properties in my previous returns. Now the same needs to be declared in both assets and 7E. Where can I get that information. I don't see any mention of those in my IRIS account. I would like to mention and match the same values in my latest return. Please help. Thanks

@faheempracticallearning 10 ай бұрын

Delete form 114 and select again, all will be appeared

@shahidjaved9144 10 ай бұрын

Sir please tell about inherited property... I mentioned it at zero cost..... Now in 7E form , what cost should be mentioned?

@farhankhalid6178 10 ай бұрын

@iqrarhussain3405 2 ай бұрын

What about agricultural land property ? Is 7E form required for agricultural land sale? Reply according Fbr rule in Sindh rural area.

@faheempracticallearning 2 ай бұрын

yes

@knowledge_triumphant 10 ай бұрын

Kindly tell what to do if someone has already filed return without filing 7E. Please put the linn of video

@saadiqbal6928 5 ай бұрын

I declared my self occupied property at purchase price (PKR 6.4m) in tax return but did not fill the Form 7-E, now I am selling my property at current market price - how can I get the Form 7-E now to get the tax exemption

@faheempracticallearning 5 ай бұрын

You can revise, your return

@rajaishtiaq3120 10 ай бұрын

Asslam o alaikum jnab whether fbr tax u/s 236k apply upon mutations of gift by a real brother in favour of real brother agriculture rural land please guide thanks.

@smilekitchenofficial Ай бұрын

Jo inherited property ho tu uski value zero declare ki jati hay in tax return usko 7e k liye kaya rule apply hoga

@faheempracticallearning Ай бұрын

Yes

@qaziqaisir2344 9 ай бұрын

Please share deession by ourt on purhse prie

@shajaisaleem5909 10 ай бұрын

Plot is on wife name and construction cost paid by husband. How to show this is tax return in wealth and 7e

@faisalmemonned-qz1vs 10 ай бұрын

Sir if any property own but not officially transfer where to declare other name or 7e

@faheempracticallearning 10 ай бұрын

not on your name? thn why report?

@sadiq114 10 ай бұрын

Thanks a lot for uploading this video. It helped me a lot. But still there is some confusion which needs to be addressed. The FBR has given the valuation information in "FBR Property Valuation (Excel)". This is an Excel file. The values of other areas has ben given but the land value in Nowshera district is nit given. So how will we show the market value for a plot in Nowshera?

@faheempracticallearning 10 ай бұрын

Use cost value, till further decision of court

@sadiq114 10 ай бұрын

@@faheempracticallearning thanks a lot for your prompt response. I have already shown the cost value. But what value should I write in the fair market value?

@faheempracticallearning 10 ай бұрын

@@sadiq114 same as cost

@sadiq114 10 ай бұрын

@@faheempracticallearning but it is not logical as how can the two values be the same?

@faheempracticallearning 10 ай бұрын

@@sadiq114 watch high court order lecture, already explained this