Salary persons require retaining tax deduction certificate for six years

Jan 29

Taxation

Salary persons require retaining tax deduction certificate for six years

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 […]

by Mrs. Anjum Shahnawaz

Share market gains 220 points as sentiments remain bullish

Jan 29

Stock & Commodity

Share market gains 220 points as sentiments remain bullish

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 […]

by Mrs. Anjum Shahnawaz

Pensioners to undergo biometric verification twice a year; rules amended

Jan 29

Finance

Pensioners to undergo biometric verification twice a year; rules amended

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 […]

by Mrs. Anjum Shahnawaz

FBR’s representation in bogus refunds rejected

Jan 29

Taxation

FBR’s representation in bogus refunds rejected

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 […]

by Mrs. Anjum Shahnawaz

Rules notified for consignment clearance at border customs stations

Jan 29

Pakistan Customs

Rules notified for consignment clearance at border customs stations

ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued draft rules for the clearance of import and export consignments at border customs stations. The FBR issued SRO 103(I)/2021 dated January 25, 2021 to propose a new sub-chapter XVI to Customs Rules, 2001 for clearance of imports and exports at border customs station. According to draft […]

by Mrs. Anjum Shahnawaz

Rupee makes gain for fourth straight day

Jan 29

Money & Banking

Rupee makes gain for fourth straight day

KARACHI: The Pak Rupee made gains against the dollar for the fourth straight trading day on Friday owing to improved export receipts and workers’ remittances, dealers said. The rupee gained 18 paisas to close at Rs160.10 against the dollar from the previous day’s closing of Rs160.28 in the interbank foreign exchange market. The rupee made […]

by Mrs. Anjum Shahnawaz

OGDCL-PPL awarded exploration rights of new block in Balochistan

Jan 29

Energy

OGDCL-PPL awarded exploration rights of new block in Balochistan

KARACHI: The government has provisionally awarded exploration rights of a new block situated in the Balochistan Province to a joint venture comprising Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL), a statement said on Friday. The statement issued by PPL said that the government had provisionally awarded a new block ‘Suleiman […]

by Mrs. Anjum Shahnawaz

SECP directs brokers to provide financial information through new online format

Jan 29

Stock & Commodity

SECP directs brokers to provide financial information through new online format

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Thursday directed stock brokers to provide financial information through a newly developed online system. The SECP issued Circular No. 02 of 2021 for online submission of financial information by securities brokers. The SECP directed the securities brokers to submit online financial information in a new standardized […]

by Mrs. Anjum Shahnawaz