Sep 28

Taxation

Furnishing of returns and documents

Section 215 of Income Tax Ordinance, 2001 has explained furnishing of returns and documents. 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 215 of the Income Tax Ordinance, 2001: 215. Furnishing of returns, documents etc. —(1) Where, by virtue […]

by Hamza Shahnawaz

Exchange rates in PKR vs foreign currencies on Sept 28

Sep 28

Money & Banking

Exchange rates in PKR vs foreign currencies on Sept 28

KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 28, 2021 (The rates are updated at 09:29AM): Currency Buying Selling Australian Dollar 122.50 124.50 Bahrain Dinar 386.60 388.36 Canadian Dollar 135.50 137.50 China Yuan 23.70 23.85 Danish Krone 23.40 23.70 Euro 198 200 Hong Kong Dollar 16.60 16.85 Indian Rupee 2.03 2.10 Japanese Yen […]

by Hamza Shahnawaz

How to get return filing date extension as per law?

Sep 28

Taxation

How to get return filing date extension as per law?

The last date for filing an income tax return is talk of the town. The Federal Board of Revenue (FBR) has made it clear that it will not extend the date for filing income tax returns for the tax year 2021 beyond September 30, 2021. Although stakeholders are persuading the FBR to extend the date […]

by Faisal Shahnawaz

Extend date for return filing till Dec 31, PTBA asks FBR

Sep 27

Taxation

Extend date for return filing till Dec 31, PTBA asks FBR

Pakistan Tax Bar Association (PTBA) has urged the tax authorities to extend date for filing annual tax returns and updating business bank accounts till December 31, 2021 from September 30, 2021.

by Hamza Shahnawaz

Sep 27

Money & Banking

KIBOR rates on September 27, 2021

KARACHI: State Bank of Pakistan (SBP) on Monday issued the following Karachi Interbank Offered Rates (KIBOR) on September 27, 2021. Tenor BID OFFER 1 – Week 7.22 7.72 2 – Week 7.26 7.76 1 – Month 7.31 7.81 3 – Month 7.53 7.78 6 – Month 7.89 8.14 9 – Month 8.14 8.64 1 – Year 8.35 8.85

by Faisal Shahnawaz

FBR notifies transfers of senior BS-19-20 IRS officers

Sep 27

Taxation

FBR notifies transfers of senior BS-19-20 IRS officers

ISLAMABAD: The Federal Board of Revenue (FBR) on Monday notified transfers and postings of senior officers of Inland Revenue Service (IRS) in BS-19 and BS-20 with immediate effect until further orders. The FBR announced transfers and postings of following IRS officers: 01. Ms. Hina Akram (Inland Revenue Service/BS-20) has been transferred and posted as Director, […]

by Hamza Shahnawaz

Share market derails after PKR record low

Sep 27

Stock & Commodity

Share market derails after PKR record low

KARACHI: The share market posted a decline of 256 points on Monday owing to slippage in Pak Rupee (PKR) value against the dollar. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 44,817 points as against last Friday’s closing of 45,074 points. Analysts at Arif Habib Limited said that market posted gains […]

by Hamza Shahnawaz

Pak Rupee hits all-time low despite SBP measures

Sep 27

Money & Banking

Pak Rupee hits all-time low despite SBP measures

KARACHI: The Pak Rupee (PKR) fell to a historic low at Rs169.60 to the dollar on Monday despite measures of State Bank of Pakistan (SBP) to support the balance of payment. The rupee ended Rs169.60 to the dollar from last Friday’s closing of Rs169.08 in the interbank foreign exchange market. Currency experts said that the rupee […]

by Hamza Shahnawaz

SBP issues customers exchange rates for September 27

Sep 27

Money & Banking

SBP issues customers exchange rates for September 27

Karachi, September 27, 2021 – The State Bank of Pakistan (SBP) has released the official exchange rates for customers on Monday, September 27, 2021.

by Faisal Shahnawaz

FBR transfers IRS officers of BS-17-18-19

Sep 27

Taxation

FBR transfers IRS officers of BS-17-18-19

ISLAMABAD: Federal Board of Revenue (FBR) on Monday announced transfers and postings of officers of Inland Revenue Service (IRS) in BS-17-18-19 with immediate effect and further orders. The FBR notified transfers and postings of the following IRS offices: 01. Dr. Muhammad Babar Chohan (Inland Revenue Service/BS-19) has been transferred and posted as Additional Director, Directorate […]

by Faisal Shahnawaz