LTU Karachi to hold e-Katcheri on July 24

KARACHI: Large Taxpayers Unit (LTU) Karachi will hold e-Katcheri on July 24, 2020 for efficient service delivery and ensure public trust. The program has been launched in compliance with the directive of the prime minister to conduct e-Khuli Katcheri to stay in contact with the public by all available means and provide them accessible platform […]

by Mrs. Anjum Shahnawaz

SBP enhances financing limit to Rs2 billion for renewable energy schemes

Jul 22

Energy, Money & Banking

SBP enhances financing limit to Rs2 billion for renewable energy schemes

KARACHI: The State Bank of Pakistan (SBP) has increased cumulative financing limit to Rs2 billion and also enhanced project size to 5MW. According to a statement issued on Wednesday, the central bank said it had enhanced the scope of its Refinance Scheme for Renewable Energy by allowing financing under category III of the scheme to […]

by Mrs. Anjum Shahnawaz

Stock market gains 104 points amid selling pressure

Jul 22

Stock & Commodity

Stock market gains 104 points amid selling pressure

KARACHI: The stock market gained 104 points on Wednesday amid profit booking in scripts of many sectors. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,805 points as against 37,700 points showing an increase of 104 points. Analysts at Arif Habib Limited said that the market traded in a similar fashion as […]

by Mrs. Anjum Shahnawaz

Rupee gains 27 paisas against dollar on improved inflows

Jul 22

Money & Banking

Rupee gains 27 paisas against dollar on improved inflows

KARACHI: The Pak Rupee gained 27 paisas against dollar on Wednesday owing to improved inflows of export receipts and remittances. The rupee ended Rs167.63 to the dollar from previous day’s closing of Rs167.90 in interbank foreign exchange market. Currency experts said that improved inflows of export receipts and remittances helped the rupee to gain the […]

by Mrs. Anjum Shahnawaz

Capital gain tax to be collected on July 30: NCCPL

Jul 22

Stock & Commodity

Capital gain tax to be collected on July 30: NCCPL

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Wednesday announced to collect capital gain tax for month of June 2020 on July 30, 2020. The NCCPL in a statement said that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period June 01, 2020 to June 30, […]

by Mrs. Anjum Shahnawaz

Banks, exchange companies no more required to give details of remittances sent abroad for education

Jul 22

Taxation

Banks, exchange companies no more required to give details of remittances sent abroad for education

ISLAMABAD: Federal Board of Revenue (FBR) shall not ask banks and exchange companies to provide details of persons sending remittances abroad related to education. Through Finance Act, 2020, the Section 236R of Income Tax Ordinance, 2001 has been omitted. This section was introduced for collection of advance tax on education related expenses remitted abroad. This […]

by Mrs. Anjum Shahnawaz