New locally assembled car purchase and WHT/Advance Tax returns information

[kadi007]

AoA Mates,

Please tell the following details regarding advance/withholding tax:

1. Is it deducted by the Car Manufacturer?
2. Is it deducted at the time of registration?
3. How we may claim return of this tax from FBR?

Any other details like useful links, Tax Returns template/dummy filled template and other examples will be highly appreciated in this regard. I want to know returns file mechanism of FBT.

Thanks

[capsat]

call up your tax lawyer he can help.

[kadi007]

call up your tax lawyer he can help.

Any better reply would be most welcome...

[misteek]

any tax withheld from payment is always adjustable in final tax return...but its procedure is not so simple..you obviously need professional advice in this regard.

[chinyoti]

^ Agreed, Any adjustments would be adjusted in your final year tak returns,

tax payable - tax payed during the year (W.H /Advance taxes, mobile fone bills, all GSTs, all invoiced purchases on ur name) = Final tax payable.

[raza1]

There is no advance tax collected by car manufacturer at the time of sale of car.Advance tax collected by Regn. authority at the time of registration is adjustable against your tax liability for the year.Suppose, your taxable income is Rs.1,000,000/- and tax @ 10% is 100,000/-Your employer has deducted 90,000 tax during the year. and tax paid at the time of registration of car is Rs.8,000/-, then your tax liability would be:Tax on taxable income Rs.100,000/-Ded. by employer Rs.(90,000/-)Car regn tax Rs.(8,000/-)Cash withdrawal tax Rs.(1,000/-)Tax on mobile phone Rs.(800/-)Tax payable with Return: Rs.200/-

[kadi007]

Thanks you raza