Tax Saving

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Power Point Presentation on Tax Saving for Employees in Pakistan

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Tax Saving

  1. 1. For the Salaried Class in Pakistan Presented by : Sohail Sherali with Mr. Farooq Janmuhammed B.com. L.L.B.
  2. 2. Mr. Faooq Janmuhammad B.Com L.L.B. (ITP) FAROOQ LAW ASSOCIATES He is in the field of Law and registered as ITP Since 1974 Expert in taxations. Sohail Sherali Ex-Employee of Aga Khan Hospital Foundation Public School Soft-touch (Software Development firm) Citibank N.A. (Karachi) Exide Pakistan Ltd Diamond Trust Bank (Uganda) Ltd C.F.C. Uganda Ltd and Many More I have worked in many departments as IT , Finance , Investments, Forex Dealer, Fund Manager etc.etc. Currently working as Manager Finance , IT & E-marketing at Amlani Enterprises Part Qualified ACCA. Certificate in Banking (From Uganda)
  3. 3. Are You Worried about your tax return <ul><li>T axable salary E-File Income tax return. </li></ul><ul><li>Taxable income >= Rs. 500,000 /- E-File Wealth Statement too </li></ul><ul><li>any other earning please declare </li></ul><ul><li>Example : Dividend Income, Profit on Saving / Term Deposit .. Property Rental Income & etc </li></ul>Particulars Action Tax saving on Next Page
  4. 4. You can Claim Tax Credit / Refund (Adjustment) On Donation , Investment in Shares & Mutual Funds Mobile Phone Cards (Pre and Post Paid) PTCL Bill (more than 1,000 per month) W/Holding Tax with (Motor Vehicle Registration & new one) Tax paid on Cash withdrawal Zakat Deducted by Banks / Financial Institutions What you can not claim Tax Deducted on Dividend & Tax on Profit (Saving & Term Deposit) Do not go, wait… something is coming that you should know..
  5. 5. Investment in Shares & Mutual Funds On new listing of shares at Stock Exchange Maximum Tax credit available on investment in Mutual Funds Rs. 160,000/- holding period One Year. Under Section 62 & 63 of the Income Tax Ordinance , 2001 Recommend to visit the website to Calculate your Tax Saving www.arifhabib.com.pk www.almeezangroup.com 06/16/10
  6. 6. A person shall be entitled to a tax credit in respect of any sum paid, or any property given by the person in the tax year as DONATION. Any Board of Education, University in Pakistan established by or under a Federal or Provincial Law. Any educational institution, hospital or relief fund established or run in Pakistan by Federal / Provincial Government. Any Non-Profit Organization. As per 2 nd Schedule of Income Tax Ordinance, 2001 Individual person can Donate up to 30% of Taxable Income List of some Organization on Next Page.
  7. 7. Aga Khan Development Network Abdul Sattar Edhi Foundation, Karachi Fund for Promotion of Science & Technology in Pakistan Fatimid Foundation, Karachi Al-Shifa Trust ICIC Foundation Shaukat Khanum Memorial Trust, Lahore. Pakistan Red Crescent Society Sindh Institute of Urology and Transplantation Any Relief / Welfare Fund established by the Federal Govt. And Many more…
  8. 8. MUTUAL FUND INVESMENT & TAX CREDIT CHART
  9. 9. Non-Taxable Salary up to Rs. 300,000 (Three Hundred Thousand ) Capital Gain Tax being Introduced on List Securities at Stock Exchange, for Six Months or less 10% while holding of securities exceeding six-months is proposed @7.5%, How ever no tax has been proposed on such capital gains arising held for Period exceeding 12 Months.

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