related to post51797 regarding income tex return.
i worked as an engineer in govt org from 1990 to 1999 had ntn paied tex during that time from 1999 till now i am abroad during this time i bought some plots and a house in a society the money to buy these properties was sent through bank and by other means also.
i have 2 F/ACC in pakistan my questions are
1-since i have ntn so i have to file income tax for that period when i am out of pakistan almost 10 years?
2-for example during 10 y when i am abroad if i had bought properties but during this time i had transfered 50% by bank 50%by other means where i stand what are the best options and what are worst.
3-during my stay abroad i have no other source of income in pakistan except for some agriculturel land which my wife got from his father after his death almost 3 y before
abc123 replied on Monday, February 21, 2011 03:27 AM
This is the same situation thru which I had to pass. You should not worry. Visit income tax office whenever you come to Pakistan; usually you'll find them nice and cooperative. Explain to them your situation. I am sure you will get your work done quite easily. However, you should directly talk to the income tax officer and not to some agents or lower level employees. The later may mislead you, compel you to use illegal means and put you in trouble or inflict financial loss. |
Zeeshan Aslam replied on Monday, February 21, 2011 11:23 AM
If you havent got any notice than no worries. Also, you are Non - resident and having a land dont require you to file a return so even you receive any notice it can be explained.
Agriculture income is also exempt so no problems.
If you have transfered money through means than it is worrisome but still if your have your account abroad and you can get salary certificate from your employer regarding salary even than can be managed.
Regards,
Zeeshan |
H replied on Monday, February 21, 2011 03:40 PM
zeeshan i have not recieved any kind of notice yet just trying to gues where i stand also wants to keep things straight even before recieving notice.
the reason to tell land was to know whether we can cover some thing to tell we have land too i mean a source of income.
ACCOUNT ABROAd? if you mean accounts in country where i live yes i have 2 accounts inthe country which are in operation also i have 2 forigen currency accounts in pakistan too. planing to go to pakistan this summer what should i do wait for notice or go to income office by myself?
i am not a salary person i am selfemployed so cannot have salary cert however will not mind to pay tex if i owe jast want guidence how to prceed. |
Zeeshan replied on Tuesday, February 22, 2011 10:45 AM
Dear H,
I assume you are going to Pakistan for good thats why you are more worred. What you should do is to prepare a list of assets and liabilities as on now and also net worth (assets - liabilities) as on 1999 (the time when you went abroad). Calculate the amount of funds you sent to Pakistan (You can determine through your bank account). Most probably the difference in net worth before going from Pakistan and now should be the amount you remitted.
This explains the source of income. If you are self employed than must be maintaining accounts or profit and loss account, do keep of that with and if you have filed any tax return in the country you are living may also be helpful.
If you need more help please email me.
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