58 replies to this topic

[Talha Masood]

Dear Seniorz,
Main eik chota invester hoon jo basically salaried individual hai. Mere kuch sawal hain is CGT ke mutaliq. Agar koi in ke asan jawab dai day tou bari meharbani ho gi.

• Agar main eik share aaj kharidoon aur aaj hi thore profit par sell kar doon. Tou kiya yeah tax lage ga meri trade par?
  
• Agar main eik share aaj kharidoon aur 10 din baad profit par sell kar doon. Tou kiya yeah tax lage ga meri trade par?
  
• Agar main eik share aaj kharidoon aur 6 mahene baad profit par sell kar doon. Tou kiya yeah tax lage ga meri trade par?
  
• Agar main eik share aaj kharidoon aur 1 saal baad profit par sell kar doon. Tou kiya yeah tax lage ga meri trade par?
  
• Jab jab yeah tax meri trade par lage ga tou yeah tax koun collect kare ga aur kaise collect ga aur kaise government ko submit kare ga?
  
• Is tax ke liye mujhe kuch kar ne zaroorat hai. Yani kisi qisam ka form waghaira ya koi documentation?
  
• Jis tarah hum salary ka income tax return file karte hain saal saal hey saal. Kiya is CGT key liye bhi aisa koi return file karna hoga?

Any and all help is highly appreciated.

[fasee]

1 YES ( as per time based slab )
2 YES ( as per time based slab )
3YES ( as per time based slab )
4 YES ( as per time based slab )
5 at moment its an annual tax filed with return, but work on proposal in being finalsied to deduct it at clearing house level, ( just like WHT on sale of sahres )
6 u have to keep ur transactionsal record, so if u come in random audit, u can provide the facts n figures.
7 annual return is for everything u earned n made / lost expensed....not limited to salary....ur shares wud be shown in wealth staement and your eligible gains ( based on tax salabs ) after beign net-of form your capital losses, wud be payable....if ur losses are higer, at teh monent u wont be payign taxes...and losses cant be carried frowarrd to next year...but budgegt wud explain it more better

[fasee]

yani pehlay jo deduction aap ko year end per receivable hoti thi ab woh expense out hu gi.....yeh choor govt ik paisa bhi wapis dena gunah-e-kabeera samjhti hai..

Amin Khan, on 03 May 2012 - 01:04 PM, said:

Dear client,
As per the Ordinance No.III of 2012 relating to Capital Gain Tax (CGT) has announced that from 24th April 2012 the withholding tax will not be deducted on the amount of sale of shares and the CVT will levy on the amount of purchase of shares @ 0.01%. So this will reflect and be implemented in your Ledger. Kindly note the changes

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[Talha Masood]

<p>

Quote

<br />
1 YES ( as per time based slab )<br />
2 YES ( as per time based slab )<br />
3YES&nbsp;&nbsp;( as per time based slab )<br />
4 YES ( as per time based slab )<br />
5 at moment its an annual tax filed with return, but work on proposal in being finalsied to deduct it at clearing house level, ( just like WHT on sale of sahres )<br />
6 u have to keep ur transactionsal record, so if u come in random audit, u can provide the facts n figures.<br />
7 annual return is for everything u earned n made&nbsp;&nbsp;/ lost expensed....not limited to salary....ur shares wud be shown in wealth staement and your eligible gains ( based on tax salabs ) after beign net-of form your capital losses, wud be payable....if ur losses are higer, at teh monent u wont be payign taxes...and losses cant be carried frowarrd to next year...but budgegt wud explain it more better<br />

</p>
<p>&nbsp;</p>
<p>Dear Fasee Bhai,</p>
<p>Thanks a lot for your explanation. Helped me a lot.&nbsp;</p>
<p>Bas 1 point aur explain kar dain,</p>
<p>&nbsp;</p>
<ul style="">
<li>Point 5 ke jawab main apne likha hai &#39;but work on proposal in being finalsied to deduct it at clearing house level,&#39; is sey mujhe aisa lag raha hai key yeah tax aaj ki tareekh main <strong>nahin</strong>&nbsp;kat raha. Aur agar kat raha hai tou mujhe kaise pata chale ga key kitna tax kab kata hai ?</li>
</ul>

Edited by Talha Masood, 18 May 2012 - 04:12 PM.

[fasee]

sir jese CVT n WHT jub deduct hota ahi tu specifically mention hota hai aap ki transaction invoice by brokes per.

rigth now you have to add it and put it in annual returns....nai kiya tu concelment hoti hai....idelay FBR shud be able to capture such guys..but they are corrupt and incompetent.

so easiest way usualy is..to deduct a arbitrary figure from each transaction..which will force the parties to file return and calim teh amounts that are already deducted, if they are to gain something out of it.....( usualy if u made losses, that we most investors do, in total sum , some amounts can be saved by netting off teh gains from losses....)

so investor wud be in gains when they file return...bad thign will be..ke cash wud be picked away from each transaction, insetad of year end transaction...yani saal ke end ke bajai slowly cash out hota rahay ga.....but good for govt..refund bhi kerna paray tu ik saal ki usage tu mil gai muft ki is chor govt ko