Oct 9

Dr. Alvi opens property exhibition for UAE based NRPs

KARACHI: Pakistan President Dr. Arif Alvi has inaugurated a property exhibition for the UAE based Non-Resident Pakistanis (NRPs) arranged by Pakistani banks offering Roshan Digital Account (RDA), in partnership with builders and developers, to showcase their products being offered under RDA. The president expressed the hope that Non-Resident Pakistanis (NRPs) living in UAE would take […]

by Faisal Shahnawaz

Advance tax on purchase of immovable property

Oct 9

Taxation

Advance tax on purchase of immovable property

Section 236K of Income Tax Ordinance, 2001 has explained the advance tax on purchase or transfer of immovable property. 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 236K of Income Tax Ordinance, 2001: 236K. […]

by Faisal Shahnawaz

Advance tax collection by educational institutes

Oct 9

Taxation

Advance tax collection by educational institutes

Section 236I of Income Tax Ordinance, 2001 tells about the collection of advance tax by educational institutes. 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 236I of Income Tax Ordinance, 2001: 236I. Collection of […]

by Faisal Shahnawaz

Oct 9

Taxation

Advance tax on sales to retailers

Section 236H of Income Tax Ordinance, 2001 explains the advance tax on sales to retailers. 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 236H of Income Tax Ordinance, 2001: 236H. Advance tax on sales […]

by Faisal Shahnawaz

Oct 9

Stock & Commodity

Weekly Review: high imports, prices likely concerns

KARACHI: The stock market likely to stay range bound during the next week owing to concerns including high imports and inflation.

by Hamza Shahnawaz

Oct 9

Money & Banking

Exchange rates in PKR vs foreign currencies on Oct 9

KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on October 9, 2021 (The rates are updated at 12:40 PM): Currency Buying Selling Australian Dollar 122.00 123.10 Bahrain Dinar 386.75 388.50 Canadian Dollar 134.00 136 China Yuan 23.75 23.90 Danish Krone 23.45 23.75 Euro 197.50 197.50 Hong Kong Dollar 16.65 16.90 […]

by Hamza Shahnawaz

Taxpayers urged to file tax returns by October 15

Oct 9

Taxation

Taxpayers urged to file tax returns by October 15

ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday urged the taxpayers to avail extended date and file their returns for tax year 2021 by October 15, 2021. In a statement the FBR once again urged all the taxpayers, both old and new, to make the most of one-time extension of 15 days granted for […]

by Faisal Shahnawaz

Single sales tax portal to start functioning by month-end

Oct 9

Taxation

Single sales tax portal to start functioning by month-end

ISLAMABAD: The single sales tax portal is likely to start functioning by end of October 2021 to facilitate taxpayers falling under all federal and provincial revenue jurisdictions. In a statement, the Federal Board of Revenue (FBR) said that building further on its ongoing drive for digitization and automation of various processes involved in revenue collection, […]

by Faisal Shahnawaz

FBR receives 1.86 million tax returns for TY2021

Oct 9

Taxation

FBR receives 1.86 million tax returns for TY2021

ISLAMABAD: The Federal Board of Revenue (FBR) has received 1.86 million returns of income for tax year 2021 up to September 30, 2021. This was disclosed at a meeting of Board-in-Council held recently. The Board-in-Council meeting appreciated the comprehensive print and electronic media campaign launched by the FATE Wing which helped FBR receive massive number […]

by Faisal Shahnawaz