0.6% tax is non-adjustable and it is on Tax Filers and Non Tax Filers (PML-N lie exposed)

Ro Maryam Ro

Minister (2k+ posts)
(Admin Plz don't merge this thread, everyone should know the truth that this tax is non-adjustable)

Some Paid employees of PML-N are claiming and lying that 0.6% is adjustable. They are lying it is non adjustable. It is same like Tax on Cash Withdraw (existing law). Was that tax ever adjustable.

Secondly this tax is on both people Tax Filers (0.3%) and Non Tax Filers (0.6%)

Below is the full detail of this law.


Through Finance Act, 2015, Federal Government has introduced new section (236P) which relates to collection of 0.6% advance tax on Non cash DEBIT transactions on Non Filers only. The details of the newly introduced law and amendments in relevant existing law is as follows:


  1. Effect date of the amendments detailed below is effective from July 1, 2015. Collection of below withholding/advance tax will be made through IT system and the branches do not have to do manual entries.
  2. The withholding tax on cash withdrawal exceeding Rs. 50,000 a day will be 0.3% for Filers and 0.6% for Non Filers.
  3. Newly inserted advance tax @ 0.6% on withdrawal, exceeding Rs. 50,000 a day, other than cash is applicable on DEBITS ONLY and ONLY ON NON FILERS. i.e.effective July 1, 2015, Non Filer will be subject to 0.6% withholding tax on every kind of withdrawal (in aggregate exceeding Rs. 50,000 a day) from his account either through cash OR through transfer cheque, clearing cheque, payorder, demand draft, transfer of funds to his own account or to another persons account, on-line transfers, transfer through internet/ ATM/ mobile phones, direct debits etc.
  4. If customer has two accounts, the limit of Rs. 50,000 will be monitored separately.
  5. Bank will collect 0.6% advance tax from Non Filers on sale of any instrument including COIs and other investment instruments, pay orders, demand drafts, CDRs,SDR,STDR, Rupee Travellers cheques and any other instrument of such nature. This tax will be applicable on sale of these instruments either through cash or debiting the customers account.



  1. In case the COI or other investment instrument is issued to Non Filer, 0.6% tax will be collected at the time of debiting his account. However, no such type of tax will be levied at the time of encasement of COI when COI account is debited and his saving/current account is credited.



  1. No tax will be deducted where debits are made for payment of Govt. Taxes. For instance, if profit of Rs.600,000 is credited to an account and withholding tax of Rs. 60,000 is debited on this profit. No tax @ 0.6% will be deducted on debit of Rs. 60,000. Advance tax will also NOT collected in case of Pakistan Real-time Interbank Settlement Mechanism (PRISM) Transactions.



  1. Per day limit of Rs. 50,000 will be monitored separately for debits relating to cash withdrawal (existing law) and other than cash transactions (Newly introduced law). For example if a Non Filer withdraw cash Rs. 30,000 and on the same day also make payment of Rs. 25,000 through cheque, no tax will be deducted. However, in case both transactions took place through cheque tax @ 0.6% will be collected on Rs. 55,000.
  2. Withholding tax on Profit payments on Saving accounts and Time deposits for Filer will be 10% and for Non Filers will be 17.5%. The withholding rate of 17.5% on Non Filers will only be applicable where profit on single payments exceeds Rs. 500,000. For example if six(6) COIs are matured and profit of Rs. 100,000 is paid on each COI, withholding tax @ 10% will be deducted. However, if it is one and single COI and profit of Rs. 600,000 is paid through one transaction, withholding tax @ 17.5% will be deducted.
  3. In case of joint account holders, if any one of the account holder is Filer, the status of that joint account will be considered as Filer irrespective of the fact that Filer is principal account holder or joint account holder. Filer means a person whose name is appearing in FBRs Active Taxpayers List or he has got Tax Payers Card issued by FBR.
  4. Cash payments against home remittances are exempt from withholding tax. However, if the home remittance is credited to an account, the withdrawal from that account will attract provision of 0.6% advance tax.
http://custom.par.com.pk/news/finance-act-2015-federal-government-has-introduced-new-section-236p/
 
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arafay

Chief Minister (5k+ posts)
another problem is that this tax is implemented on people who are NOT REQUIRED to file returns. for eg. those who do job, their income tax is deducted by their employer before sending salary to their account. This means, these people have already paid income tax and they dont have to file returns if they dont do any other business. however, these guys still pay withholding tax on mobile, internet and cash withdraw of over 50k. this new law will now deduct more tax 0.6% on all transaction - pay order, check, bank to bank transfer (even when both bank accounts belong to same person)
 

msaeed89

Minister (2k+ posts)
Do not worry there are still some patwaris present in the forum who work in morning shift.

They will come up with some lame excuses once they get feedback from the media cell..

Just see them disappear in the evening and then couple of horses and donkey will replace them.

And this cycle goes on and on and on, I have never seen the once commenting in morning or day, present in the night..
 

Ro Maryam Ro

Minister (2k+ posts)
another problem is that this tax is implemented on people who are NOT REQUIRED to file returns. for eg. those who do job, their income tax is deducted by their employer before sending salary to their account. This means, these people have already paid income tax and they dont have to file returns if they dont do any other business. however, these guys still pay withholding tax on mobile, internet and cash withdraw of over 50k. this new law will now deduct more tax 0.6% on all transaction - pay order, check, bank to bank transfer (even when both bank accounts belong to same person)

One more thing, i have to pay double taxes.

Mein remittance bhejoooooon, tab tax (0.6%). Merey parents paisey withdraw kerwaein, tab bhi tax..(0.6%)

I have to pay double taxes. (0.6% + 0.6% = 1.2%)
 

arafay

Chief Minister (5k+ posts)
One more thing, i have to pay double taxes.

Mein remittance bhejoooooon, tab tax (0.6%). Merey parents paisey withdraw kerwaein, tab bhi tax..(0.6%)

I have to pay double taxes. (0.6% + 0.6% = 1.2%)
no i think you have to pay only once. they cannot put tax on crediting money otherwise, pakistan will go bankrupt.
 

Ro Maryam Ro

Minister (2k+ posts)
no i think you have to pay only once. they cannot put tax on crediting money otherwise, pakistan will go bankrupt.

If my remittance is deposited in my parents account. Then tax is applicable. And then later on my parents withdraw money from their bank account. They also have to pay tax.



Look at this clause:

  1. Cash payments against home remittances are exempt from withholding tax. However, if the home remittance is credited to an account, the withdrawal from that account will attract provision of 0.6% advance tax.
 

K . Z

MPA (400+ posts)
If my remittance is deposited in my parents account. Then tax is applicable. And then later on my parents withdraw money from their bank account. They also have to pay tax.



Look at this clause:

  1. Cash payments against home remittances are exempt from withholding tax. However, if the home remittance is credited to an account, the withdrawal from that account will attract provision of 0.6% advance tax.

I think it means sending money to a bank account is exempt from tax but the tax will be deducted at the time of withdrawals, if applicable i.e. withdrawals more than 50,000
 

GeoG

Chief Minister (5k+ posts)
For Po.ti Heads

There is already a tax of 0.3% which will continue (same rate)
for people with valid NTN number

for people with no NTN number this will be liable to pay increased rate of 0.6% percent

People who do heavy bank transactions through bank
should be ones to get worried as they evade taxes

at least they should register themselves for NTN
to save if they are so bothered about increment ..


 
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msaeed89

Minister (2k+ posts)
If my remittance is deposited in my parents account. Then tax is applicable. And then later on my parents withdraw money from their bank account. They also have to pay tax.



Look at this clause:

  1. Cash payments against home remittances are exempt from withholding tax. However, if the home remittance is credited to an account, the withdrawal from that account will attract provision of 0.6% advance tax.


So they are telling us that if you put you remittances in the account you will be charged.

It means they are forcing us to remit by other means instead of remitting directly to the bank account.. " Hundi "
 

msaeed89

Minister (2k+ posts)
For Po.ti Heads

There is already a tax of 0.3% which will continue (same rate) for people with valid NTN number
for people with no NTN number this will be liable to pay increased rate of 0.6% percent

People who do heavy bank transactions through bank
should be ones to get worried as they evade taxes

at least they should register themselves for NTN
to save if they are so bothered about increment ..




For khtoti head like you, why deduction of 0.6 on the remittances..


Now we have to move in circles again with this new breed after the old lot went on break..
 

Ro Maryam Ro

Minister (2k+ posts)
I think it means sending money to a bank account is exempt from tax but the tax will be deducted at the time of withdrawals, if applicable i.e. withdrawals more than 50,000

Dear If my remittance is credited to my parent's bank account, i have to pay tax. Secondly my parents withdraw money from their account like 1,00,000. They also have to pay tax.



  1. Cash payments against home remittances are exempt from withholding tax. However, if the home remittance is credited to an account, the withdrawal from that account will attract provision of 0.6% advance tax.
 

Ro Maryam Ro

Minister (2k+ posts)
So they are telling us that if you put you remittances in the account you will be charged.

It means they are forcing us to remit by other means instead of remitting directly to the bank account.. " Hundi "

Yes you are right. I send money through proper channel but govt. is forcing me to use other channels
 

M.Sami.R

Minister (2k+ posts)
ارے بھئی، فورم کے کسی کھونے کھدرے سے کسی پٹواری کو گھسیٹ کر اس تھریڈ پر لاؤ، کوئی تو نواز گنجے کی وارداتوں کا دفاع کرے، جمہوریت کی جیب تراشیوں کی وضاحت کون کرے گا؟ یہ گنجے اپنی ہی جمہوریت کے خلاف سازش کررہے ہیں، کل کو کسی جنرل نے عوامی موڈ دیکھتے ہوئے گنجوں کی پیٹھ پر لات مار کر مسندِ اقتدار سنبھال لی تو کون قصوروار ہوگا؟
 

GeoG

Chief Minister (5k+ posts)
For khtoti head like you, why deduction of 0.6 on the remittances..


Now we have to move in circles again with this new breed after the old lot went on break..

Lolz,
It seems you are sending millions at each time then you should not be bothered about it
If you are poor like me, withdraw less than 50K at one time to save yourself ...
 

Ro Maryam Ro

Minister (2k+ posts)
For Po.ti Heads

There is already a tax of 0.3% which will continue (same rate)
for people with valid NTN number

for people with no NTN number this will be liable to pay increased rate of 0.6% percent

People who do heavy bank transactions through bank
should be ones to get worried as they evade taxes

at least they should register themselves for NTN
to save if they are so bothered about increment ..



Anyone who already have NTN and he do heavy transactions. Then what??????? WIll he be exempted from tax? They have to pay taxes even if they are not making money on that amount.
 

msaeed89

Minister (2k+ posts)

Lolz,
It seems you are sending millions at each time then you should not be bothered about it
If you are poor like me, withdraw less than 50K at one time to save yourself ...

Alhamdulilah we are sending money to Pakistan as a foreign exchange helping Pakistan, why should we be taxed at all..

We have not looted our motherland and then did money laundering flying capital out of Pakistan to London like nawaz did..

Why are you bothered about millions flying in to Pakistan and not about millions being flown out of Pakistan in hudabia paper mills case.
 

GeoG

Chief Minister (5k+ posts)
Alhamdulilah we are sending money to Pakistan as a foreign exchange helping Pakistan, why should we be taxed at all..

We have not looted our motherland and then did money laundering flying capital out of Pakistan to London like nawaz did..

Why are you bothered about millions flying in to Pakistan and not about millions being flown out of Pakistan in hudabia paper mills case.



Good to hear that you are sending money to Pakistan
but you are actually sending the dosh to your relatives not to Pakistan
If your family or relatives did not need it, you will not send a penny
so tell this patriotic story to someone who will buy it ...
 

Ro Maryam Ro

Minister (2k+ posts)
Good to hear that you are sending money to Pakistan
but you are actually sending the dosh to your relatives not to Pakistan
If your family or relatives did not need it, you will not send a penny
so tell this patriotic story to someone who will buy it ...

Sending money to pakistan through proper channel means helping pakistan... If we send money thorugh hawala then that means we are not helping pakistan.
 
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