Dear Jameel Bhai,
I have HSBC account in UAE and always withdrawn money from HSBC and sent to my ABL account in Pakistan through exchange companies for buying property. Could you please advise whether it will be considered as white or black. I have complete records of my salary slips in UAE, bank statements of HSBC UAE and ABL Pakistan.
Thanks in advance for your support,
Kind regards,
Habib replied on Saturday, July 2, 2016 03:48 PM
Dear User Bhai, It is purely white only Keep record of Transactions |
User_18559® replied on Saturday, July 2, 2016 03:58 PM
Thanks Habib Sb. |
Salman.A® replied on Saturday, July 2, 2016 05:32 PM
it is WHITE in layman terms.
But to declare it WHITE is whole another STORY.
You should have record of slips from the exchange company. On the slip yu will find the bank which transfered money to you account in pakistan.
You will have to write to the bank which trasnferred money in your account for PRC certificate.
This PRC certificate will be your proof of WHITE money. Other wise any bank statement is not valid for FBR. You moey will be considered black.
Then you or your lawyer declare this money in TAX EXEMPT income in yearly tax returns.
You will have to go through all this procedure to declare your money white and to become a filer. |
User_18559® replied on Saturday, July 2, 2016 06:35 PM
Thanks Salman Sb for this detailed guidance. During my next visit to Pakistan I will definitely do the necessary follow with the bank to get PRC certificate for all my remittances. I will also contact a lawyer to start filing returns. I believe now all overseas Pakistanis must take care this process to avoid any complications with FBR.
Thanks a lot once again for your time and guidance. It will definitely help many overseas like me. |
Overseas_Desi replied on Saturday, July 2, 2016 06:37 PM
Come on Salamn.A, don't scare the poor guy, he is working in UAE and have his salary slips, what other proof is required that his money is white.
When it comes to common man, all types of proofs are required, even when the money is earned overseas and transferred to Pakistan.
But when corrupt elite send millions of black money outside Pakistan, no proof is required. Hell with this type of system and lanat on those who support these type of corrupt rulers. |
Salman.A® replied on Saturday, July 2, 2016 08:25 PM
@overseas DESI
i just outlined the procedure.
SALARY SLIPS dont make your money white in PAKISTAN.
You have to proof you sent it through proper banking channel and show it in your return. JUST A LEGAL PROCEDURE and everyone has to follow it.
I have been telling this on this forum for quite some time. I have outlined the details in my previous POST # 83010 |
Oversees Investor VIRGINA replied on Saturday, July 2, 2016 11:11 PM
i always send my brother money from america for last 5 years thru my bank account to his Askari bank account n then thru money gram ..n my brother told me he got Certificates for every transaction thru his bank branch .They have to send all info to karachi it takes few weeks so if you have proof of moneygram western union transactions n bank wires slips .get ur money white .Let's do it proper way before these bleedy noon league corrupt loot us for our hard earned money |
Salman.A® replied on Saturday, July 2, 2016 11:41 PM
@overseas invester virginia
That money is white for your brother. You cannot claim that money to be white as yours. |
User_20873® replied on Sunday, July 3, 2016 04:26 AM
How we can send money in our own accounts for for installments or other payments. We have to send money to the person who manages it. |
Ejaz_EJ® replied on Sunday, July 3, 2016 06:41 AM
Dear All,
simplest way is to get the remittance card issued from Embassy of Pakistan in your respective country,
I got issued remittance card from Abu Dhabi and I am getting it from the last 2 years, according to the card category it is clear that you send specific amount of money to Pakistan through legal means. |
SIM replied on Sunday, July 3, 2016 07:05 AM
In response to FBR notice after I purchased a plot, I submitted following documents which were accepted and notice was withdrawn.
1-Proof of non resident status.
2-Remittance certificate from the exchange company.
3-Salary certificate.
4-Remittance card. |
Azee replied on Sunday, July 3, 2016 08:54 AM
I have question in fact related to this topic;
If one had purchased plot after transferring funds from abroad via bank transfer(s) BUT didn't obtain PRC at time
May request one's bank to provide now for the transfers made in past, let's say ten transactions during last two or three years?
Who (FBR/Income Tax Dept/Ishaq.dar/..) can help if bank refuse to do so.
I believe if it's possible many of our friends can fix part of problem if not all.
Waiting for reply.... Regards |
Ammar® replied on Sunday, July 3, 2016 09:56 AM
Dear Salman Sb,
Please needs one clarification.
I am currently working for a company that doesn't exist in Pakistan. I am looking after my company's customers in pakistan. But As I am working in pakistan but my salary is coming from outside Pak in USD in my SC usd account, what would be my tax status?
Is my monthly compensation is tax exampt as normally people say that all foreign remittance coming in Pak through proper bank channels is tax exampt?
Kindly do guide me,
Thanks |
End_User replied on Sunday, July 3, 2016 10:04 AM
Dear Salman Sb,
I have one question regarding this topic.
I am working for a company who doesn't exist in Pak and my salary (USD) is coming from outside Pakistan directly into my SC dollar account through proper banking channels.
What will be my tax status?
I have asked few people and normally they say all foreign remittance coming through proper banking channels are tax exempt.
Could you pls advise me correct legal status of my tax?
thanks,
looking forward for your advise. |
User_10773® replied on Sunday, July 3, 2016 04:52 PM
Just keeping record of your transactions with yourself isn't going to be an acceptable case for tax authorities. The real thing that is required under the law is your declaration through filing of your yearly income tax return. It is important to be a National Tax Number holder and even more important is to be a filer. Once you declare all your Income/Expenditures you need not to worry |
Salman.A® replied on Sunday, July 3, 2016 10:34 PM
@ ammar
I am no TAX expert.
But what i understand from your question is that the company is not pakistan and sending money from overseas.
The money which is being sent to you is your salary which you will have to declare as your income and pay income tax on that amount.
Your money will be white.
If the company is sending USD from the business account then it will be considered your income. you cannot claim that money to be tax free.
If it is from individual then you can claim that money to be tax free remittances.
Better to consult a lawyer.
@ Azee
Yes you can get PRC for past 10 years or beyond. No problem at all.
NOTE: If overseas dont want to become filer then it is completely normal and natural. Just complete your homework and keep every document ready. If and ever you get a notice from FBR , reply to that notice with the help of lawyer by proving your money is white. If you dont get any notice then you are lucky. |
