Renala Khurd returns combine orchards, dairy, crop trading and salaries. This page explains each.
Orchard Owners and Contract Sales
Many of Renala Khurd's citrus and mango orchards are sold each year to contractors before the fruit ripens. For the owner, the contract money is agricultural income, just as if he had sold the fruit himself. Owners who sell directly to juice processors receive payment by bank and declare it the same way.
Orchard Contractors
A contractor's return shows sales to processors, to Lahore's fruit market and to exporters, against the contract price, picking labour, crates, grading and freight. Processors withhold tax on payments, which the contractor claims. A frost or storm that ruins a crop can turn the season into a loss, shown and generally carried forward.
Dairies
Commercial dairies show milk sales to processors against feed, labour and veterinary costs; the herd is a business asset.
Potato and Maize Traders
Purchases at harvest, cold storage rent, freight and sales, with stock on 30 June counted at cost.
Employees
Salary and withholding are copied from certificates.
Late Filing
A late return is accepted with the surcharge to rejoin the Active Taxpayers List.
Rent from Highway Shops
Owners of shops on the N-5 declare rent as property income.
Pensioners
Retired staff declare their pension as exempt and list their land.
Bank Profit
Profit on savings is declared with the bank's withholding, which is claimed or treated as final according to the rules for the year.
Transporters
Truck owners carrying fruit and potatoes show freight against fuel, repairs and wages.
Also see NTN registration in Renala Khurd.
Frequently Asked Questions
Is contract money for my orchard agricultural?
Yes.
Is a dairy herd listed?
Yes, as an asset.
Can I file late?
Yes, with the surcharge.