Noora Propagada exposed by Ch Nisar . . .

[umair ahmed]

For 2 days now i am seeing that PML-N members are saying that IK has undervalued his assets in the assets decleration in order to evade tax . . .Which actually is the Cost paid at the time of the purchase and it is by law that to declare the assets on it s cost as said by Asad Umar in Agenda 360 . . .

But we all now that PML-N members will not agree to it so i did some research and founded out the interview of Ch nisar with Kashif abbasi . .In which Ch nisar himself said that for tax assessment the amount to be show is the amount which at the time of purchase is paid i-e the Acquasition Cost and for assets decleration we dont need to show the cost . . .

Here is the video , and watch from 4:00 minutes . . . .

http://www.youtube.com/watch?v=P4aFeUF8w3E&feature=player_embedded

 

[Saadbaloch]

Noora League ka Mulazim hai iss ki Aokaat aor kia hai.

 

[Uzair Ch]

Stupid Argument, as per the election rules of the election commission of Pakistan, YOU HAVE TO DECLARE BOTH THE COST AND THE PRESENT VALUE OF THE ASSETS. Declaration of assets have nothing to do with the payment of tax, because TAX IS PAID ON INCOME NOT VALUES OF ASSETs. There is no wealth tax in Pakistan and property tax is paid at the time of SALE OF Property. As long as you are keeping the property you are not paying any tax on it value let it be present market value or purchase price. You are only bound to pay tax on the INCOME generated from the property like rent, agricultural produce etc.


The day you sell the property then income arises that is the difference between the purchase price and the selling price of property, that day you pay TAX on the DIFFERENCE in purchase and sale values of assets.


If PTI leaders have declared assets only purchase value and not revealed market values then its fooling the general public and pure dramay bazi. !


Refer to election commission of Pakistan election laws, page 145 Assets declaration form which asks you to give present market value.


http://www.ecp.gov.pk/ElectionLaws/volume1.pdf

 

[umair ahmed]

[MENTION=23032]Uzair Ch[/MENTION] . . if your argument is true than Ch Nisar himself declared a land at 25,000 cost which according to him is bought by his Grand father in 1800 something and he said that it is the law to declare at what price you purchase it . . so it means Ch nisar is Tax chor ???

 

[Believer12]

ھمارے ملک میں کبھی چینی کی کمی نھیں ھوی تھی۔لیکن جب سے ان گنجوں حرامخوروں نے شوگر ملیں لگای ھیں۔چینی دیکھنے کو نھیں ملتی۔یہ لوہار ھی اچھے تھے

 

[Uzair Ch]

@umairahmad Please read my explanation again, declaring present value or purchase value of assets has nothing to do with Tax, because TAX IS NOT IMPOSED ON VALUE OF ASSET, it is imposed on INCOME EARNED FROM THE ASSET. So if Chaudhry Nisar has declared the asset at 25,000 no tax is going to be imposed on its 25,000Rs value.

But if Ch Nisar is growing wheat on it, then agriculture income tax is imposed on PROFIT which should be calculated by deducting expenses from incomes from the agricultural land and residual profit be charged to tax @15% or 16% I am not aware of the latest rate.

Declaration of assets is a political requirement which is required by the Election Commission of Pakistan and PTI has not done it the right way morally by not disclosing the present values.

 

[Uzair Ch]

@Uzair Ch . . if your argument is true than Ch Nisar himself declared a land at 25,000 cost which according to him is bought by his Grand father in 1800 something and he said that it is the law to declare at what price you purchase it . . so it means Ch nisar is Tax chor ???

Please read my explanation again, declaring present value or purchase value of assets has nothing to do with Tax, because TAX IS NOT IMPOSED ON VALUE OF ASSET, it is imposed on INCOME EARNED FROM THE ASSET. So if Chaudhry Nisar has declared the asset at 25,000 no tax is going to be imposed on its 25,000Rs value. I am sure he should have filled both the columns of the form prescribed by election commission in one column mentioned purchase value of 25,000 and other column present value otherwise papers are rejected by returning officers.

But if Ch Nisar is growing wheat on it, then agriculture income tax is imposed on PROFIT which should be calculated by deducting expenses from incomes from the agricultural land and residual profit be charged to tax @15% or 16% I am not aware of the latest rate.

Declaration of assets is a political requirement which is required by the Election Commission of Pakistan and PTI has not done it the right way morally by not disclosing the present values.

 

[Zulfi Khan]

I trust Imran Khan and PTI leaders but I have no respect for the tried and tested parties
and their leaders. Imran Khan is the only; we can rely upon him to run Pakistani govt.
Geo PTI! Geo Imran Khan!

 

[such bolo]

@umairahmad Please read my explanation again, declaring present value or purchase value of assets has nothing to do with Tax, because TAX IS NOT IMPOSED ON VALUE OF ASSET, it is imposed on INCOME EARNED FROM THE ASSET. So if Chaudhry Nisar has declared the asset at 25,000 no tax is going to be imposed on its 25,000Rs value.

But if Ch Nisar is growing wheat on it, then agriculture income tax is imposed on PROFIT which should be calculated by deducting expenses from incomes from the agricultural land and residual profit be charged to tax @15% or 16% I am not aware of the latest rate.

Declaration of assets is a political requirement which is required by the Election Commission of Pakistan and PTI has not done it the right way morally by not disclosing the present values.

Ager present value ka income tax sey koi taaluq nahin tu present value mention kerney ka faida?
jub jaidad bechi jaigi os waqt jis qeemet per bechi jaigi osi waqt income generate hogi aur tax dena parega.
Tu is mien qabahat kiya hai?

Present value kabhi constant nahin hoti kabhi oper kabhi neechey
is liye is ka faisla bhi nahin kiya jasakta

Income ko jaidad sey relate kerney key liye wohi value mention ki jaigi jo khareedtey waqt hogi

Present value sey na aaap k tax ka taaluq hai na is sey aap ki income varify hoti hai
tu public ko isey bataney ka faida?

 

[Uzair Ch]

Present value batana is required by law, this is important to know the worth of your actual wealth as of particular date. The major purpose of this is that if today you decide to liquidate your assets how much cash you can obtain. Present value batana is AS PER LAW MUST TO DO. KUCH CHEZAIN LAW MEIN HOTI HAIN WE CANT SAY WHY IT IS IN LAW. For example Corporate tax rate by law is 35%, we cant say why it is 35%. Life imprisonment is usually of 7 years, why it is 7 years we cant say why it is 7 years but we know it is a law requirement. So many things are required by law and have to be followed like declaring present values of assets which PTI should also do !