Approved funds explained by Income Tax Ordinance, 2001
Income Tax Ordinance (ITO), 2001 has defined various approved funds for the chargeability of income…
Tax rates on motor vehicles during tax year 2022
Tax rates on motor vehicles during tax year 2022The rates of income tax on motor vehicles for…
Deadline for Digital Mode of Payments Proposed to further extend
Federal Board of Revenue (FBR) is examining a proposal to further extend time period beyond November…
Penalty for Non Filing of Annual Income Tax Returns 2021
A penalty of Rs1,000 each day of default has been implemented from Saturday after the expiry of…
FBR urges taxpayers to file Income Tax Returns without delay
Federal Board of Revenue (FBR) has once again urged all the taxpayers, both old and new, to make the…
Highlights on Tax Laws Third Amendment Ordinance, 2021
Compulsory Digitized Payment for Expenditure by Companies:This is a highly discussed amendment…
FBR amends Section 122 of IT Ordinance regarding time limit for proceedings
The Federal Board of Revenue (FBR) will enforce new amendment to Section 122 of the Income Tax…
Govt Considers to end 1% Bank Deduction on IT Export Remittance
The government is considering over stopping banks from deducting 1% or 2% percent tax on IT foreign…
KTBA urges FBR to issue directions to banks to stop withholding tax deduction on IT exports
Karachi Tax Bar Association (KTBA) urges the Federal Board of Revenue (FBR) to issue fresh…
Taxpayers to update profile to remain in ATL and skip fine
Taxpayers are required to update their profile by June 30, 2021, to avoid penalty and exclusion from…
