1. Home
  2. #FBR

Tag: #FBR

UPDATES
Government Seeks to Impose tax on Suspicious Gifts transactions among Relatives

Government Seeks to Impose tax on Suspicious Gifts transactions among Relatives

The standing committee informed and proposed that an amendment is under way to streamline legality that deals with the tax structure of the gifts given to the relatives. “Provided that, if the capital asset acquired…

BUDGET
Political parties exempted in Budget from filing income tax returns and paying taxes

Political parties exempted in Budget from filing income tax returns and paying taxes

The government proposed to exempt all registered political parties of Pakistan from the obligation of submitting their annual income tax returns and wealth statements and other related record. Finance Bill 2021 presented on last Friday.…

BUDGET
FBR Officers Authorized to Arrest Anyone on Concealment of Income

FBR Officers Authorized to Arrest Anyone on Concealment of Income

The Inland Revenue officers of the Federal Board of Revenue (FBR) have been given unlimited powers to arrest any person against the charges of the concealment of income in the recent budget presented. Under the…

BUDGET
Taxes on Salaries and Pensions: FBR Issues Clarification

Taxes on Salaries and Pensions: FBR Issues Clarification

Federal Board of Revenue (FBR) issued a clarification on a news published in the daily Express Tribune, in its issue dated 14th June, 2021 regarding budget proposals on taxation of salary income. FBR explained that the…

BUDGET
Highlights, New Taxes, Relief and Incentive Measures in Budget 2021-2022

Highlights, New Taxes, Relief and Incentive Measures in Budget 2021-2022

The government presented the next fiscal year’s (2021-2022) budget with a total volume of over Rs. 8 trillion. While presenting the federal budget for financial year 2021-2022, the finance minister Shaukat Tarin presented speech in…

BUDGET
Proposed Federal Development Budget

Proposed Federal Development Budget

The federal development budget for the next financial year has been allocated Rs 900 billion, the federal ministries will get Rs 672 billion. According to the documents, Rs 110 billion earmarked for water resources, Rs…

BUDGET
Proposals for development budget of Punjab for next financial year

Proposals for development budget of Punjab for next financial year

Preliminary proposals have been prepared for the development budget of Punjab for the next financial year. Apart from the recommendations for allocating a development package of Rs. 475 billion for the province and Rs. 60…

BUDGET
Bad News for Salaried & Retired Employees in Upcoming Budget

Bad News for Salaried & Retired Employees in Upcoming Budget

The government has accepted to the condition put by the International Monetary Fund (IMF) to charge income tax on monthly pensions in the upcoming budget, Finance Act 2021 , according to media reports. According to…

UPDATES
FTO ordered an investigation against officials of CTO Lahore against recovery of tax without notice

FTO ordered an investigation against officials of CTO Lahore against recovery of tax without notice

The Federal Tax Ombudsman (FTO) has passed an order against the corporate tax office, Lahore (CTO) tax employees, against the cases involved in collecting taxes from government departments without communicating any enforceable order of tax…

BUDGET
Real Estate Sector Demands Extension In Construction Package & Amnesty Scheme

Real Estate Sector Demands Extension In Construction Package & Amnesty Scheme

The real estate sector has demanded in the next budget that the construction package of the Prime Minister and the related amnesty scheme be extended till June 30, 2022. 50% reduction in all fees on…

Share it !