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Shaukat Tarin assures wealth reconciliation Statement waiver for first time home buyers

Shaukat Tarin assures wealth reconciliation Statement waiver for first time home buyers

Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has assured land developers that the federal government will extend the exemption on wealth reconciliation statement for first-time home buyers beyond Dec 31. Speaking…

BLOG
Tax Practitioners Urged FBR to issue FTNs against Withholding tax Deduction

Tax Practitioners Urged FBR to issue FTNs against Withholding tax Deduction

Tax practitioners have urged the Federal Board of Revenue (FBR) to issue Free Tax Numbers (FTNs) to persons who are not liable for withholding tax. In its proposals for budget 2021/2022, the Karachi Tax Bar…

UPDATES
Sindh Revenue Board Announces Tax Relief Scheme

Sindh Revenue Board Announces Tax Relief Scheme

The Sindh Revenue Board (SRB) has announced a tax incentive scheme. This scheme allows total exemption from penalties. It provides significant relief for Sindh sales tax (SST) defaulters in payment of default surcharge. Meetings held…

TAXATION
FBR Exempts Judicial Allowance by Honoring Court Judgment

FBR Exempts Judicial Allowance by Honoring Court Judgment

The Federal Board of Revenue (FBR) exempted judicial allowances from income tax. This exemption has been given by honoring court judgments. The tax machinery this week mentioned that the “judicial allowance and special judicial allowance are exempt…