ISLAMABAD: The government on Sunday has increased the prices of petroleum products and enhanced the price of petrol by Rs2.70 per liter to Rs111.90 effective from February 01, 2021. The new prices will be implemented with effect from February 01, 2021. The price of petrol has been increased by Rs2.70 per liter to Rs111.90 from […]
ISLAMABAD: Federal Board of Revenue (FBR) has issued around 1.4 million notices to non-filers of income tax returns and those who concealed income in their declaration, a statement said on Saturday. The statement said that the FBR issued notices to nearly 1.4 million taxpayers, who were supposed to file return, or filed nil return, or […]
ISLAMABAD: Federal Board of Revenue (FBR) needs to collect an amount of Rs2,393 billion during next five months of fiscal year 2020/2021 (FY21) to achieve the annual target of Rs4,963 billion. According to provisional revenue figures released on Saturday, the FBR collected Rs2,570 billion during July – January 2020/2021 as compared with Rs2,416 billion in […]
ISLAMABAD: Federal Board of Revenue (FBR) on Saturday directed tax offices to ensure recovery of penalty amount from corporate taxpayers, who failed to file income tax returns by due date. The last date for filing income tax returns for tax year 2020 was December 31, 2020. However, the FBR said that a large number of […]
ISLAMABAD: Federal Board of Revenue (FBR) has directed tax offices to issue penalty notices to sugar mills, which have failed to install video analytics system, sources said on Saturday. The FBR directed Chief Commissioners of LTO, MTO, CTO of Karachi, Lahore and RTO Peshawar to issue penalty notices to non-compliant sugar mills which have not […]
KARACHI: The stock market may move in green owing to ongoing result season, whereby corporate profitability appears strong. Analysts at Arif Habib Limited said that in addition, improved liquidity in the market (translating in augmented volumes / value), will also keep the index trajectory positive. Albeit, a key event next month includes FATF’s meeting to […]
ISLAMABAD: A person deriving income salary is required to retain salary certificate indicating amount of salary and tax deducted for six years, sources said on Friday. The sources said that the requirement of retaining record for six years is mandatory under income tax laws. Similarly taxpayers deriving income from property are required to retain following […]
KARACHI: The share market gained 220 points on Friday as investors were remained positive on the economy. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,386 points as against previous day’s closing 46,166 points showing an increase of 220 points. Analysts at Arif Habib Limited said that the market ramped another 491 […]
ISLAMABAD: Pensioners are required to undergo biometric verification twice in a year in order to continue withdrawal of pension amount. The Finance Division on Friday issued SRO dated January 28, 2021 to notify amendments in the Federal Treasury Rules. As per the amendments, a pensioner drawing pension shall be bound to undergo biometric verification on […]
ISLAMABAD: A representation of Federal Board of Revenue (FBR) has been rejected by the President of Pakistan on Friday that was filed against an order passed by the Federal Tax Ombudsman (FTO) in bogus refund case. According to details, President Dr. Arif Alvi rejected the FBR’s representations directing the tax authorities to recover amount of […]