ISLAMABAD: Federal Board of Revenue (FBR) granted fifth extension for filing income tax return for tax year 2019 up to January 31, 2020. The FBR issued Income Tax Circular No. 18 of 2019 for extension in date of filing income tax returns/statements for tax year 2019. The FBR said that the date of filing of … Read more
ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs2,080 billion during first half (July – December) 2019/2020 as compared with Rs1,795 billion in the corresponding half of the last fiscal year, showing a growth of 16 percent. FBR chairman Syed Shabbar Zaidi in a tweet message said that the revenue body collected Rs2,080 billion up … Read more
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) posted a return of 10 percent during year 2019. Analysts at Arif Habib Limited said that KSE-100 index posted a return of 9.9 percent YoY during CY19 while USD-based return clocked-in at negative 1.4 percent. First positive return after two years of consecutive negative returns, … Read more
KARACHI: State Bank of Pakistan (SBP) has directed financial institutions to ensure biometric verification of branchless banking customers by March 31, 2020. In a circular issued on Tuesday directed all banks and microfinance banks to complete biometric verification of all level-1 accounts by March 31, 2020. In case biometric verification is not performed, the financial … Read more
KARACHI: State Bank of Pakistan (SBP) on Tuesday updated guidelines for banks related compliance on notification issued under United Nations Security Council (UNSC) Resolutions. The SBP issued circular addressing chief executives and presidents of banks, development financial institutions and microfinance banks, referring to the guidelines on Compliance of Government of Pakistan’s Notifications issued under United … Read more
KARACHI: The stock market fell by 153 points on Tuesday as the last day of 2019 while trading in narrow range during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,735 points as against 40,888 points showing a decline of 153 points. Analysts at Arif Habib Limited said that the … Read more
KARACHI: The Pak Rupee gained seven paisas against dollar on Tuesday to close the year 2019. The local currency appreciated despite demand for import and corporate payments, dealers said. The rupee ended Rs154.85 to the dollar from previous day’s closing of Rs154.92 in interbank foreign exchange market. Currency dealers said that the rupee witnessed pressure … Read more
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued orders to microfinance banks (MFBs) to ensure verification of customers in order to mitigate various risks arising from money laundering and financing terrorism. A circular issued by the central bank referred it previous instructions issued through Circular No. 02 dated October 05, 2018 to mitigate various risks … Read more
KARACHI: Today i.e. December 31, 2019 is the last date for filing income tax returns for tax year 2019 and Federal Board of Revenue (FBR) may not able to reach 2.74 million returns of tax year 2018. The income tax return filing for tax year 2018 has increase to a new record level of 2.74 … Read more
KARACHI: In case a person unable to file annual return and wealth statement by due date the he/she has right to get extension in date on various grounds by furnishing an application to Commissioner Inland Revenue. Section 119 of the Income Tax Ordinance, 2001 provided the procedure to get date extension in filing annual return … Read more