Jhelum returns frequently combine pensions, salaries, rent and money from relatives abroad. This page explains how each is reported.
Pension and Second Income
Retired servicemen declare their pension as exempt and any salary from a second job, rent or business profit as taxable. Leaving the pension out makes the wealth statement fail to reconcile.
Rental Income
Rent received is declared under property income. Where a tenant withholds tax, the deduction is claimed. Repairs allowance and other permitted deductions apply according to the law for the year.
Money from Relatives Abroad
Remittances received through banks are receipts, not income, shown in the wealth statement of the person who receives them.
Property Sold
A sale during the year is reported with the sale price, cost, gain and advance tax paid under section 236C. The treatment of the gain depends on when the property was acquired.
Salaried Persons
Employees in Jhelum and the twin cities report salary and withholding from certificates.
Wealth Statement
Houses, plots, defence scheme allotments, vehicles, gold and balances are listed, with the change over the year explained.
UK Pensions
Residents who have returned from Britain and draw UK state or private pensions declare them under the rules on foreign income; whether they are taxable in Pakistan depends on the law and treaty position for the year.
Shopkeepers in the Bazaar
Traders show sales, purchases and stock, with advance tax charged on commercial electricity bills claimed.
Also see tax consultant in Jhelum and NTN registration in Jhelum.
Frequently Asked Questions
Do I declare my pension?
Yes, as exempt income.
Is rent withheld by a bank tenant adjustable?
It is claimed in the return.
How do I report a property sale?
With price, cost, gain and the advance tax paid.