Requirement of filing income tax return by persons in a tax year has been unveiled by the Federal Board of Revenue (FBR).
Section 113C of Income Tax Ordinance, 2001 explained the levy of alternative corporate tax payable by a company in respect of income.
Section 113 of Income Tax Ordinance, 2001 defined the application of minimum tax on taxpayers where they declare loss during a tax year or other reasons specified in the ordinance.
The newly clarified Section 112 specifically addresses tax liability arising from the disposal or certain security transactions.
BIEJING: Pakistan International Airlines (PIA) on Sunday carried fresh batch of 12 million doses of Sinovac vaccines through special flights from Beijing, to Capital International Airport of Islamabad. The PIA airlifted the Sinovac vaccines obtained from China and brought it to Pakistan for the people under government’s ongoing prevention and control drive against Covid-19. The […]
KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on August 29, 2021:
Section 111 of Income Tax Ordinance, 2001 explained action against income or assets that is concealed or unexplained by persons. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section 111 of the Income […]
The Federal Board of Revenue (FBR) has unveiled Section 110 of the Income Tax Ordinance, 2001, providing a mechanism for the payment of tax on salary income of earlier years by private companies.
Section 109A of Income Tax Ordinance, 2001 stated that income of a controlled foreign company shall be included in the taxable income of a resident. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of […]
Section 109 of Income Tax Ordinance, 2001 has stated that a commissioner may recharacterise a transaction for determining tax liability. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section 109 of the Income […]