Failure to keep record to attract two years imprisonment
Section 193 of Income Tax Ordinance, 2001, updated up to June 30, 2021, now emphasizes that a taxpayer may face two years imprisonment on failure to keep record.
Section 193 of Income Tax Ordinance, 2001, updated up to June 30, 2021, now emphasizes that a taxpayer may face two years imprisonment on failure to keep record.
Section 192A of Income Tax Ordinance, 2001 has prescribed two years imprisonment to a person who concealed income from tax authorities. 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 192A of Income Tax Ordinance, 2001: 192A. Prosecution for concealment of […]
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the following Karachi Interbank Offered Rates (KIBOR) on September 21, 2021. Tenor BID OFFER 1 – Week 7.20 7.70 2 – Week 7.24 7.74 1 – Month 7.28 7.78 3 – Month 7.44 7.69 6 – Month 7.66 7.91 9 – Month 7.81 8.31 1 – Year 8.00 8.50
KARACHI: Karachi Tax Bar Association (KTBA) in a letter to the chairman of the Federal Board of Revenue (FBR) sent on Tuesday, highlighted technical issues in filing return of income for tax year 2021. It is commendable that the FBR issued the return form for tax year 2021 on July 01, 2021. “It is however, […]
KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) plunged by 519 points on Tuesday due to across-the-board selling on closing. The benchmark index ended at 46,009 points as against the previous day’s close of 46,528 points. Analysts at Arif Habib Limited said that the market posted an increase of 305 points during […]
KARACHI: The Pak Rupee (PKR) gained of 20 paisas against the dollar on Tuesday. The rupee ended Rs168.52 to the dollar from previous day’s closing of Rs168.72 in the interbank foreign exchange market. Currency experts said that the market witnessed inflows of exports receipts and workers’ remittances during the day. They said that the external […]
Karachi, September 21, 2021 – The State Bank of Pakistan (SBP) has issued the exchange rates for customers on Tuesday, September 21, 2021.
KARACHI: Sindh High Court (SHC) has dismissed a petition filed by Hum Network Limited for a grant of relief against a show cause issued by the Sindh Revenue Board (SRB). A division bench of the SHC in a case C.P.No.D-3735 of 2016, observed: “We are of the considered view that instant petition is misconceived and […]
KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 21, 2021 (The rates are updated at 09:00 AM): Currency Buying Selling Australian Dollar 120.50 122.5 Bahrain Dinar 386.60 388.36 Canadian Dollar 133.50 135.50 China Yuan 23.70 23.85 Danish Krone 23.40 23.70 Euro 197.50 199.50 Hong Kong Dollar 16.60 16.85 Indian Rupee 2.03 2.10 Japanese […]