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As far as withholding tax is concerned, WHT under section 236K will be adjustable against the final tax liability of the individual therefore carries no value in computing the cost of asset as well as the value of expenses.
A person purchase property in July 2019 and paid down payments of Rs. 500,000. Further he has to pay installments of Rs. 100,000 per month (25 installments) starting from August 2019.
Benchmark rate is the rate of interest levied under income tax ordinance 2001 for the treatment of loan. The said loan has been taken to the employee by the employer and will be chargeable in various circumstances under the head “income from salary”.
Medical allowance is a facility or benefit given by the employer to his employee for the expense incurred on any medical treatments or hospitalization. It can be in the form of
Mr. A worked for an organization in Pakistan for the first 08 months of the tax year and remaining 04 months outside Pakistan i.e. in Saudi Arabia (KSA). His monthly salary in Pakistan and KSA is PKR 100,000/ per month and SR 6,000 respectively. Mr. A’s family stayed in KSA throughout that year.