Section 227A and Section 227B of Income Tax Ordinance, 2001 have laid down procedure for reward to officials of Federal Board of Revenue (FBR) and whistleblowers in recovery of tax evaded amount. 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 … Read more
Section 227 of Income Tax Ordinance, 2001 has explained that no suit or other legal proceedings would be brought in any civil court against any order made under this ordinance. 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 … Read more
Section 226 of Income Tax Ordinance, 2001 explains the computation of the limitation period. 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 226 of Income Tax Ordinance, 2001: 226. Computation of limitation period.—In computing … Read more
Section 225 of Income Tax Ordinance, 2001 has described the proceedings against companies under liquidation. 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 225 of Income Tax Ordinance, 2001: 225. Proceedings against companies under … Read more
ISLAMABAD: The Federal Board of Revenue (FBR) has said that its IT system is functioning smoothly and no date will further be extended. The FBR in a tweet message said advised all taxpayers both old and new taxpayers to avail the 15-day extension and must file the annual return. It is pertinent to mention here … Read more
KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on October 3, 2021 (The rates are updated at 09:54AM): Currency Buying Selling Australian Dollar 123 125 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 198.50 200 Hong Kong Dollar 16.60 16.85 Indian Rupee 2.03 2.10 Japanese Yen … Read more
Section 224 of Income Tax Ordinance, 2001 has explained that proceedings initiated under this ordinance shall be treated as judicial proceedings. 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 224 of Income Tax Ordinance, 2001: 224. Proceedings under … Read more
Section 223 of Income Tax Ordinance, 2001 allowed a taxpayer to nominate a representative for an appearance on his/her behalf before the 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 223 of Income Tax Ordinance, 2001: … Read more
Section 222 of Income Tax Ordinance, 2001 empowered a commissioner of Inland Revenue to appoint an expert for the purpose of audit or valuation. 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 222 of Income Tax Ordinance, 2001: … Read more