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اً عْ يِ مَ ا جْ وُ رِ فْ انِ وَ اٍ اتَ بُ ا ثْ وُ رِ فْ انَ فْ مُ كَ رْ ذِ ا حْ وُ ذُ ا خْ وُ نَ مٰ اَ نْ يِ ذّ ال اَ ھْ يَ ا 17 17 سورة ن ساء الMaulana Muhammad Joona Garhi ( ن سا ؤ ! ا اے١ ؤہ ) ب س ب س ا ؤی چ ؤہ ۔ اMaulana Ishaq Madni اس ( ،ر ؤ ا ، ن ا ! اے ؤہ ف ا ب س ا ، ی ن د ) ۲ Maulana Mahmood ul Hassan Deobandi اے ے ف ھٹ ک ا ب س ا ی چ د ی دی ج ج ر ا ! ؤا ن ا٤ Maulana Fateh Muhammad Jalandhri ب س ا یؤ ک ن ب ع ب ع ا ی ؤ ر ) د( ! ؤ چ اMaulana Ahmad Ali Lahori ! ا ؤا ن اے ا ے ھٹ ک ا ب س ا ی چ دا داج ج ر Maulana AbulAala Maududi ، ر ر ت ق ر ؤ ہ ، ن ا اے101 ۔ ا ا ی ن د ا اMaulana Abdur Rehman Kilani ن اے ا[، اس ر ی ا ت ق ر ؤ ہ ن سا ؤ ! ا ؤا١١١ ااہ ا ] ؤ ا ب س ا ؤی چ ن دMaulana Taqi Usmani O you who believe, be on your guard, and march in groups, or march all together. Maulana Abdul Majid Daryabadi O Ye who believe! take your precaution then sally forth in detachment or sally forth all together. Sahih International O you who have believed, take your precaution and [either] go forth in companies or go forth all together. We may encounter many defeats but we must not be defeated. Maya Angelou. Letter of Interest 1. Contracting: Written-response solicited from contractors or vendors through advertisements. It is often employed in pre- qualifying the respondents for specific services, based on their resources and experience, before sending a request for proposals (RFP). 2. Financing: Written communication issued by a lender in response to a request for funding a project or transaction. A LOI neither confirms a loan nor provides any specific terms under which the loan may be extended, but only states that the lender would consider that type of financing. See also commitment letter. Lahore ‐ Karachi ‐ Islamabad ‐ Sargodha E: [email protected] | W: softax.com.pk Question: My client is owner of petrol pump. He purchases petrol from shall. He said that he files nil return as his purchase is under Presumptive tax Regime, So Q1: What is Presumptive tax regime and which section/SRO to study for it, & Q2: Nil return means in his return there will be no need to fill annex C or A? Answer: 1. Presumptive tax regime / final tax regime are considered as separate block of income and tax deducted under this regime is full and final means while calculating income tax in annual return, no tax would be payable or would be refunded. Read section 169 of ITO, 2001. 2. There are different arrangements for petrol pump operator, petrol pump owned and operated by company, petrol pump owned by another person but company is paying commission on sales, petrol pump is owned by another person and company is selling product to the owner by passing on his margin. The answer depends on scenario. ------------------------------------------------- Question: If Private Limited company pays loans or advance to one of its director and later on it is treated as dividend than in this case who will pay the tax on this amount? Answer: The company is liable to collect and pay tax on dividend at the time of payment of loan to any shareholder (because loan is treated as dividend), loan to director for business purpose does not fall under this category. ------------------------------------------------- Income Tax 745(I)/2020 19-Aug-2020 750(I)/2020 20-Aug-2020 Circular No. 02/20 18-Aug-2020 C.No.3(22)S(L-DT) /2014 19-Aug-2020 Sales Tax 751(I)/2020 20-Aug-2020 Edition: 441 Issue: 03-08-20 The Commissioner having jurisdiction over a case may register a person as a taxpayer where he is satisfied that the income of the person is taxable and is required to file a return of income under section 114. Nine Weeks Practical Training Course Certificate in Taxation Laws Starting First Week of September, 2020 Live Online Monday & Tuesday 6 PM TO 9 PM Nine Weeks Practical Training Course Certificate in Taxation Laws Live Recorded Time and Days of Participant Choice For more details and latest events click here UPCOMING EVENTS TAX TIP OF THE WEEK SOFTAX MEMBER QUERIES ا ی ر ف ؤ ا م ا ت ی ہ رؤا ن ع اہ ر ر ہ ا ت ر ہ ک ای ا ن اؤر ر ا ا ا ؤر طہ رت ر سال ا س ب م ؤہ ا ن را ق ن ر ف ب ج ن سی ن رت ا ی ؤہ ر اؤر س ؤہ د اؤر ل ار ی ۔ ا ن س WEEKLY UPDATES (SROs, Circulars etc.) QUOTE OF THE WEEK BUSINESS TERM OF THE WEEK
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