FBR updates, income tax, budgets and markets for Pakistan
15 articles
Understanding Section 7e of the Income Tax Ordinance 2001. According to the FBR, a new section 7E was introduced through Finance Act, 2022. Here in this section, for tax year 2022 and…
How to Create ATL Surcharge Payment Challan. Every year there is a deadline for filing a tax return with a due date. As per tax laws of Pakistan following are the deadline…
All those taxpayers who are residents of district Lahore they may need LESCO Withholding Tax Certificate while filing their annual income tax returns. Lesco withholding Tax certificate requires to claim the tax…
Federal Board of Revenue (FBR) has taken initiative to pay income tax, sales tax, customs duty and excise duty online through internet banking, mobile banking and ATM. It is 24/7 facility provided…
Samsung Galaxy A50 is a device launched in Pakistan. The official price of this phone is 0 Rupees. The Samsung Galaxy A50 price in Pakistan is less then $60/- which includes 250…
The top 10 items which contribute most of import taxes in Pakistan - eight of them related to energy and edible oil - contributed one-third of import taxes, or Rs409 billion, in…
Let us see the taxation of IT and IT enabled services, freelancer and startups. Both income tax and sales tax provisions are here hereby explained. Further, the recent changes in taxation of…
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…
The FBR issued the weekly ATL – 2019 updated on the basis of returns filed up to January 10, 2021. The ATL-2019 will remain applicable till February 28, 2021 as the FBR…
This step of FBR is part of various reforms under the special direction of the Prime Minister of Pakistan. FBR urged timely design / finalization of income tax return forms for individuals,…
The Federal Board of Revenue has issued a statement saying that the government has added a new section 122D to the Income Tax Ordinance 2001 through the Finance Act 2020. Under which…
It is to remind here that the last date for submission / filing of income tax returns by salaried, business individuals, AOPs and companies with special financial year, was December 08, 2020.…
Extension of time for furnishing returns and other documents. Section 119 of the Income Tax Ordinance 2001 deals with the extension in time for filing annual income tax returns. According to the…
The FBR said in an official tweet that under section 114 of the Income Tax Ordinance 2001, all persons who have houses consisting of 500 square yards or vehicles of one thousand…
ISLAMABAD: It is for general information and in order to avoid any confusion on the matter mentioned above. It is clarified that no sales tax had been imposed on wheat flour in…