Mian Channu returns usually combine ginning, dairy, highway business or commission with farm income. This page explains each part.
Truck Stop and Workshop Owners
A dhaba or tyre shop on the N-5 shows daily takings, purchases of food, tyres and parts, wages for the night shift, rent and electricity. Many of these businesses run twenty-four hours, so electricity is a large cost and the advance tax charged on commercial bills is a substantial credit. PRA tax collected from restaurant customers is paid over to the province and is not income.
Milk Collection Centre Operators
The return shows milk bought from farmers, milk sold to the processor, chilling costs, staff and transport. The processor's withholding statement is listed and claimed.
Ginners
Lint and seed sales, seed cotton purchases, power, labour and depreciation, reconciled with sales tax returns.
Arhtis
Commission less shop costs, with advances to farmers as receivables.
Farmers
Crops from family land are agricultural income.
Salaried Residents
Salary and withholding from certificates, with land and houses listed.
Wealth Statement
All assets and liabilities at 30 June, with the year's change explained.
Transporters
Truck owners show freight against diesel, tyres, repairs and wages, claiming the token tax.
Remittances
Money from relatives abroad is a receipt in the wealth statement.
Late Filing
A late return is accepted with the surcharge.
Bank Profit
Profit on savings accounts is declared with the bank's withholding.
Pensioners
Retired teachers and railway staff declare their pension as exempt.
Their wealth statement lists the house and land they own.
Also see tax consultant in Mian Channu and NTN registration in Mian Channu.
Frequently Asked Questions
Is PRA tax collected income?
No, it is collected for the province.
Is a dairy herd an asset?
Yes.
Is crop income declared?
Yes, as agricultural income.