Islamabad, September 22, 2025 – The Federal Board of Revenue (FBR) has achieved a major milestone by crossing the figure of 8 million active taxpayers.
(more…)Author: Shahnawaz Akhter
-
Banks face Rs1 trillion withdrawal in just two months
Karachi, September 22, 2025 – Commercial banks in Pakistan have experienced a sharp outflow of deposits, as more than Rs1 trillion was withdrawn by customers during July and August, the first two months of the current fiscal year 2025-26.
(more…) -
RTO-1 Karachi raids famous retail chain for suspected tax evasion
Karachi, September 22, 2025 – The Regional Tax Office (RTO)-1 Karachi carried out a surprise raid on the headquarters of a well-known retail chain over suspicions of large-scale sales tax evasion. The action reflects the Federal Board of Revenue’s (FBR) strict stance on tax compliance and its growing focus on the retail sector.
(more…) -
FBR Examines Foreign Assets of Leading Media House
Islamabad, September 22, 2025 – The Federal Board of Revenue (FBR) has initiated a detailed probe into the tax affairs of a prominent media house in Pakistan. The move signals the government’s intent to closely monitor businesses with overseas engagements and ensure compliance with international reporting standards.
(more…) -
How to Get 2025 Return Filing Deadline Extension
Karachi, September 22, 2025 – With only one week left before the September 30 deadline for filing annual income tax returns for the year 2025, many taxpayers are concerned about meeting the requirement. If you think you may miss the deadline, the law provides a way to apply for an extension.
(more…) -
Salary Income Tax Credit on Pension Fund Contribution
The Income Tax Ordinance, 2001 allows a tax credit for people who contribute to a pension fund during the tax year 2025-26. Section 63 of the updated law explains how this benefit works for salary earners.
(more…) -
Tax Treatment on Charitable Donations in Pakistan
The Income Tax Ordinance, 2001 explains how charitable donations are treated for tax purposes in the tax year 2025-26. Section 61 provides details about who can claim a tax credit and how the amount is calculated.
(more…) -
Tax Formula for Disposal of Stock-in-Trade
The Income Tax Ordinance, 2001 explains how to calculate the cost of stock-in-trade when it is sold or used during the tax year 2025-26. Section 35 of the updated law gives a simple formula for this calculation.
(more…) -
Accrual Based Accounting under Pakistan Tax Laws
The Income Tax Ordinance, 2001 clearly defines the principles of accrual based accounting for income under the head “Business” for the tax year 2025-26. Section 34 of the updated ordinance explains how income and expenses are treated under this system.
(more…) -
FBR issues benchmarks for income tax exemptions
Islamabad, September 21, 2025 – The Federal Board of Revenue (FBR) has formally introduced benchmarks for determining income tax exemptions and concessions, aiming to enhance clarity and consistency in the taxation system.
(more…)