Trial of tax cases by special judge
Section 203 of Income Tax Ordinance, 2001 has described that the Federal Government can appoint more than one special judge for trial of tax cases.
Section 203 of Income Tax Ordinance, 2001 has described that the Federal Government can appoint more than one special judge for trial of tax cases.
Section 202 of the Income Tax Ordinance, 2001, updated up to June 30, 2021, now allows the Chief Commissioner, with the prior approval of the Board, to compound offences either before or after the institution of proceedings.
The Federal Board of Revenue (FBR) has been granted enhanced authority to initiate prosecution proceedings under Section 201 of the Income Tax Ordinance, 2001.
The Federal Board of Revenue (FBR) has introduced new penalty regime introduced for non-filing tax returns in order to encourage documentation.
ISLAMABAD: Federal Board of Revenue (FBR) has said that computation of income and assets prepared by the National Database Registration Authority (NADRA) shall be treated as assessment. The FBR in explanation to Tax Laws (Third Amendment) Ordinance, 2021 said that a new section 175B has been inserted in the Income Tax Ordinance, 2001 aiming to […]
KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 25, 2021 (The rates are updated at 11:06AM): Currency Buying Selling Australian Dollar 122.50 124.50 Bahrain Dinar 386.60 388.36 Canadian Dollar 134.50 136.50 China Yuan 23.70 23.85 Danish Krone 23.40 23.70 Euro 199.50 201.00 Hong Kong Dollar 16.60 16.85 Indian Rupee 2.03 2.10 Japanese Yen […]
KARACHI: Investors’ sentiments are likely jittery during the next week owing to measures taken by the government to curtail import bill. Analysts at Arif Habib Limited said that with the government making all efforts to restrict imports, tax collection (silver lining in the domestic economic climate at the moment), may also be hurt. Market sentiments […]