Application of minimum tax under Section 113

Section 113 of Income Tax Ordinance, 2001 defined the application of minimum tax on taxpayers where they declare loss during a tax year or other reasons specified in the 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. … Continue reading Application of minimum tax under Section 113