Dear Members,
As we know new taxes are going to be imposed on property sale, in which category retired government person( who is not filling income tax return now as his only earning is pension) will fall? filer or non-filer?
thanks,
Imran replied on Tuesday, July 12, 2016 06:33 PM
pension income is not admissible for tax purpose. No tax on pension.
However in order to save taxes on your bank transactions u may voluntarily opt to file return. |
AmmarŪ replied on Tuesday, July 12, 2016 08:03 PM
@ Imran,
thanks for reply. But my asking is, if a retired person sell/buy any plot then he have to pay tax being filer or non-filer? |
SamuraiŪ replied on Tuesday, July 12, 2016 11:18 PM
Dear Ammar,
If retired peopling are not filling income tax returns each years, then they would be considered as non files. |
MITŪ replied on Wednesday, July 13, 2016 12:05 AM
Aamer has asked a very genuine and critical question; the Government (M/O Finance & FBR) or the "Law Makers" should consider the most neglected group of retired/senior citizens in Pakistan. In civilized societies its the responsibility to take good care of their retirees but we have no justice at all let alone any soft corner for them. They must be exempt from Filer & Non Filer conditions to protect their whatever savings at the last stage of their lives. But who cares in Pakistan? these law makers have to look after themselves first all the times at the cost of public money by enhancing their own salaries and perks recently. |
Arif MŪ replied on Wednesday, July 13, 2016 02:20 AM
A retired person may also have a side business generating income. He could also have property on his name that is tax able. So tax still needs to be filed even the person is retired from govt or private job. My understanding. |
