MCC Hyderabad announces auction of non-duty paid vehicles on March 11

KARACHI: Model Customs Collectorate (MCC) Hyderabad announced auction of non-duty paid motor vehicles to be held on March 11, 2020. Following vehicles will be offered for auction: 1. Foreign Origin Non-duty paid vehicle Toyota Hilux Surf Jeep, bearing Reg. No. LEB-13-9976, Chassis No VZN185-9025060, HP-2928 Cc and Model-1999 as per registration documents. 2. F/o NDP […]

by Mrs. Anjum Shahnawaz

Cantonment starts demolishing illegal constructions from March 10

Mar 7

National

Cantonment starts demolishing illegal constructions from March 10

In adherence to directives issued by the Supreme Court of Pakistan, the Clifton Cantonment has announced plans to commence the demolition of unauthorized constructions, starting from March 10, 2020.

by Mrs. Anjum Shahnawaz

High valued building at PECHS detected as benami; FBR attaches, initiates proceedings

Mar 7

Taxation

High valued building at PECHS detected as benami; FBR attaches, initiates proceedings

KARACHI: Anti-Benami Initiative Zone-III Karachi of Federal Board of Revenue (FBR) has detected residential cum commercial high valued building as benami property, which is located in posh area of the city. According to details, the anti-benami zone investigated the source of income for the purchase of the property and discovered that the owners or benamidars […]

by Mrs. Anjum Shahnawaz

Mar 7

Stock & Commodity

Weekly Review: market performance to remain subdued on cornovirus fear

KARACHI: The fears over Coronavirus and its impact on the economy, as well as the continuation in pressure on global equities is likely to keep market performance subdued. That said, valuations across the board particularly in blue-chips have reached attractive levels, analysts at Arif Habib Limited said. The benchmark KSE-100 index of Pakistan Stock Exchange […]

by Mrs. Anjum Shahnawaz

FBR may invoke provisions for third party recovery

Mar 7

Taxation

FBR may invoke provisions for third party recovery

ISLAMABAD: Federal Board of Revenue (FBR) may invoke provisions related to third party recovery of tax defaulted by a taxpayer. FBR sources said that the tax authorities may invoke Section 140 of Income Tax Ordinance, 2001 in order to make recovery from a defaulter. The FBR recently notified draft rules through SRO 111(I)/2020 dated February […]

by Mrs. Anjum Shahnawaz