Tier1 extension income from investment in sole proprietershi

[tier1ext22pk]

Dear all,
I am working in Pakistan and going for Tier1 extension. I am doing a job and also have part time earning from investment in a proprietorship company where I am active in day to day working. my question is

1. Can I show my income from investment in a business which is running under proprietorship of someone else and I have invested an amount and have been active in day to day business. I invest in big items supplied to clients and get the due share of profit in my bank account. I get my earning share when the company get the payments from its clients. The company is paying due taxes on import and supply of goods .

what documentary proof is required to show earning from investment.

can I get a letter from company showing my earning only. or do i need to have some accountant letter as well. company does not deduct any tax on my earnings.

Thanks

[Lucapooka]

Investment income is disregarded. It's not clear from your post as the the business relationship you have. You would need to be employed by the business or a director of the business.

[tier1ext22pk]

Thanks for your valuable input. I am working as a management member .
But since this is proprietorship based company where there is only one owner, so i can not be a director. If I show myself as employee even than this company is not authorized to deduct tax from my earnings As an employer. I need to file my tax return at the end of tax year which is few months away. Can I show myself as contractor of that company and claim earnings as dividends. if so what documents would be require.

Thanks

[Lucapooka]

Can I show myself as contractor of that company and claim earnings as dividends.

Yes, if you have been a contractor for that company during the 12 months you are claiming. But it's not something that you can start to do now and expect to be treated retroactively.

[tier1ext22pk]

Thanks again. Is it must to show that tax has been deducted by employer. or can we show income as service charges and pay tax ourselves at the end of tax year.

[Lucapooka]

Para 120 of the guidance.

[tier1ext22pk]

Thanks .
My income from my part time job is twice of my permanent job as the remuneration is based on completion of projects. Does it matter ?

[Lucapooka]

It has to be actual earned income already received (rather than expected earnings for a future date).