Payment to residents for use of machinery, equipment

Section 236Q of Income Tax Ordinance, 2001 describes the certain authorities that are not applicable to pay advance tax. 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 236Q of Income Tax Ordinance, 2001: 236Q. […]

by Hamza Shahnawaz

Oct 10

Energy, Taxation

Sales tax on petrol slashed to 6.84%

In a move aimed at providing relief to consumers, the federal government has announced a reduction in the sales tax rates on the supply of petrol and high-speed diesel (HSD).

by Mrs. Anjum Shahnawaz

Advance tax not applicable on certain authorities

Oct 10

Taxation

Advance tax not applicable on certain authorities

Section 236O of the Income Tax Ordinance, 2001 outlines specific authorities exempted from the obligation to pay advance tax.

by Faisal Shahnawaz

Oct 10

Money & Banking

Exchange rates in PKR vs foreign currencies on Oct 10

KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on October 10, 2021 (The rates are updated at 09:30 PM): Currency Buying Selling Australian Dollar 122 123.50 Bahrain Dinar 386.75 388.50 Canadian Dollar 134 136 China Yuan 23.75 23.90 Danish Krone 23.45 23.75 Euro 195.50 197.50 Hong Kong Dollar 16.65 16.90 Indian Rupee 2.03 2.10 […]

by Hamza Shahnawaz