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2010 INDIVIDUAL RETURNS
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hello
#1 Posted : Thursday, June 16, 2011 5:21:20 PM
Rank: Member

Joined: 6/11/2008
Posts: 257
Hi Experts,

2010 individual returns are due.

I need to know followings.

1. Is it must you show your stocks investments?
2. Is it must you show your fixed deposits ?

Please advise.

I want to be a millionaire.
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Gordon Gekko
#2 Posted : Thursday, June 16, 2011 5:30:30 PM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
With holding tax on dividends from stocks and interest from treasury bills/bonds are final, which means no further taxes are due from you. The withholding tax certificate given to you together with the cheque clearly says that the issuing body will account for the tax on your behalf, but it is your duty to keep the certificate as proof that the tax has been paid.
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Tebes
#3 Posted : Friday, June 17, 2011 11:28:18 AM
Rank: Elder

Joined: 11/26/2008
Posts: 2,097
If you have only one source of income and you are an employee whose employer deducts and remits PAYE on your emoluments(pay) then you need not file end year returns, thanks to Uhuru's Budget speech, sorry, ministerial statement. An introductory clause to section 58(B) to the income tax Act refers.
"Never regret, if its good, its wonderful. If its bad, its experience."
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Tebes
#4 Posted : Friday, June 17, 2011 11:34:08 AM
Rank: Elder

Joined: 11/26/2008
Posts: 2,097
@Hello,

Also check out
http://www.capitalfm.co....n-tax-returns-6219.html

http://www.kenyanews24.c...clarifies-on-tax-returns
"Never regret, if its good, its wonderful. If its bad, its experience."
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Chaka
#5 Posted : Friday, June 17, 2011 11:51:05 AM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
In this arrangement,can someone advise me how to go about claiming the refund on the mortgage interest payments?
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  | | Edit by user: Friday, June 17, 2011 12:00 PM | Reason: Not specified
Austine rk
#6 Posted : Tuesday, June 21, 2011 7:47:27 PM
Rank: Hello

Joined: 6/21/2011
Posts: 1
Hey, i need help with my online individual tax return filling, whenever i do i get a message that i am not obligated for this particular tax returns, please assist with this
Thank you
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Lolest!
#7 Posted : Tuesday, June 21, 2011 8:18:26 PM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
Tebes wrote:
If you have only one source of income and you are an employee whose employer deducts and remits PAYE on your emoluments(pay) then you need not file end year returns, thanks to Uhuru's Budget speech, sorry, ministerial statement. An introductory clause to section 58(B) to the income tax Act refers.

Really? I thought the budget is meant for the next financial year? This year you still file returns kawa
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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Silk
#8 Posted : Wednesday, June 22, 2011 9:25:44 AM
Rank: Member

Joined: 8/25/2008
Posts: 144
@ Lolest, effective date 9th June 2011. Unconfirmed reports indicate if you have not returned yours, and the provisions apply, then you don't have to. KRA promised to clarify.
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Gordon Gekko
#9 Posted : Wednesday, June 22, 2011 2:00:31 PM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
2010 Returns due by 30th June. The amendments in the Finance Bill/Budget/Ministerial Statement will kick in next year.
Penalty for no returns is 5% of the tax due or Ksh 1,000, whichever is greater.
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Majicman
#10 Posted : Wednesday, June 22, 2011 3:05:02 PM
Rank: Member

Joined: 8/17/2006
Posts: 11
Gordon Gekko wrote:
2010 Returns due by 30th June. The amendments in the Finance Bill/Budget/Ministerial Statement will kick in next year.
Penalty for no returns is 5% of the tax due or Ksh 1,000, whichever is greater.


The penalty, is it on tax already remitted but with no returns or on what is still due from me?
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