Oct 22

FBR grants performance allowance to officials of MCC Preventive Peshawar

ISLAMABAD: Federal Board of Revenue (FBR) has granted performance allowance equivalent to 100 percent of minimum of basic pay to Customs officials posted at Model Customs Collectorate (Preventive) Peshawar. In a notification issued on Tuesday, the FBR granted following inspectors of BS-16 of MCC Preventive Peshawar, who have been selected through the process of internal […]

by Mrs. Anjum Shahnawaz

Stock market gains 114 points in narrow band trading

Oct 22

Stock & Commodity

Stock market gains 114 points in narrow band trading

KARACHI: The stock market gained 114 points on Tuesday while trading in narrow band during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,199 points as against 33,085 points showing an increase of 114 points. Analysts at Arif Habib Limited said that the market traded largely in a narrow band, […]

by Mrs. Anjum Shahnawaz

Rupee gains three paisas amid demand for import payment

Oct 22

Money & Banking

Rupee gains three paisas amid demand for import payment

The Pakistani Rupee experienced a modest gain of three paisas against the US Dollar on Tuesday, reflecting demand pressures for import and corporate payments in the local market.

by Mrs. Anjum Shahnawaz

Wealth Statement Form: mandatory for filing along with annual return

Oct 22

Taxation

Wealth Statement Form: mandatory for filing along with annual return

KARACHI: Filing of wealth statement is mandatory for making annual return form valid. Taxpayers are required to file asset declaration under Section 116 of Income Tax Ordinance, 2001. Last date for filing income tax returns for tax year 2019 is October 31, 2019, which was already extended from September 30, 2019. 116. Wealth statement.— (1) […]

by Mrs. Anjum Shahnawaz

No legal proceeding against customs officials while exercising powers

Oct 22

Pakistan Customs

No legal proceeding against customs officials while exercising powers

KARACHI: Customs laws protect officials from legal proceedings in case anything done in good faith while exercising powers. The FBR issued Customs Act, 1969 updated till June 30, 2019 incorporating amendment brought through Finance Act, 2019. Section 217 of the Customs Act, 1969 provides protection of action taken under the Act. Section 217: Protection of […]

by Mrs. Anjum Shahnawaz