KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs12.29 on June 20, 2022 at 11:09 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs10.93 at closing on June 19, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.06 on June 20, 2022 at 11:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.05 at closing on June 19, 2022.
Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.
KARACHI: Pakistan has announced massive tax reduction for salaried persons in the budget 2022/2023. The country announced federal budget 2022/2023 on June 10, 2022 and announced massive reduction in tax on the income of salaried person, which may be applicable from July 01, 2022.
Through Finance Bill, 2022 the tax slabs have been reduced to seven from 12. Besides, bringing down the number of slabs, the country also provided massive tax relief in payment of tax.
KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs3,876,727.06 on June 19, 2022 at 11:29 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,281,186.62 at closing on June 18, 2022.
The rate of Bitcoin in US Dollar (USD) is $18,489.25 on June 19, 2022 at 11:29 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $20,463.66 at closing on June 18, 2022.
Disclaimer: All data and information is provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.
KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs63.62 on June 19, 2022 at 11:19 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs67.02 at closing on June 18, 2022.
The rate of Ripple in US Dollar (USD) is $0.30 on June 19, 2022 at 11:19 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.32 at closing on June 18, 2022.
Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs10.93 on June 19, 2022 at 11:11 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs11.85 at closing on June 18, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.05 on June 19, 2022 at 11:11 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.06 at closing on June 18, 2022.
Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.
KARACHI: The massive depreciation of Pakistan Rupee (PKR) will remain major concern for investors of the Pakistan Stock Exchange (PSX) during the next week.
However, positive news such as compliance of FATF conditions by Pakistan and some revenue measures taken by the government to satisfy the IMF would send positive sentiments for the market.
Analysts at Arif Habib Limited said that in the outgoing week, the market opened on a negative note amid concerns over the dissatisfaction expressed by IMF upon measures taken in Federal Budget 2022-23, whereby the market plunged by 1,135points DoD.
After the bloodbath, the market sentiment turned positive amid the expectation of the exclusion of Pakistan from FATF’s grey list. Moreover, the investors remained elated owed to the news flow regarding China agreeing to roll over loans worth USD 2.3 billion to Pakistan and extending further assistance by USD 2.5 billion to USD 2.8 billion.
Furthermore, the government increased the prices of petrol and high speed diesel by Rs24.03/ltr and Rs59.16/ltr, respectively, while completely eliminating the remaining subsidies, fulfilling one of the major conditions of IMF.
However, the rupee continued to plummet throughout the week against the USD, closing at PKR 208 (lowest level ever) while SBP reserves dropped to a staggering USD 8.99 billion. The market closed at 42,141 points, up by 126 points (up by 0.3 per cent) WoW.
Sector-wise positive contributions came from i) E&P (116 points), ii) Cement (90 points), iii) OMC (80 points), iv) Power Generation (56 points), and v) Engineering (51 points). Whereas, sectors which contributed negatively were i) Commercial Banks (263 points), ii) Chemical (34 points) and iii) Technology (33 points). Scrip-wise positive contributors were HUBC (51 points), PSO (50 points), POL (36 points), PPL (32 points) and OGDC (31 points). Meanwhile, scrip-wise negative contribution came from UBL (75 points), MEBL (71 points), BAHL (46 points), MCB (44 points) and SCBPL (34 points).
Foreign selling was witnessed this week, clocking in at USD 1.91 million compared to a net sell of USD 0.42 million last week. Major selling was witnessed in Banks (USD 1.4 million) and Fertilizer (USD 1.1 million). On the local front, buying was reported by companies (USD 10.5 million) followed by individuals (USD 5.8 million). Average volumes clocked in at 174 million shares (up 3 per cent WoW) while average value traded settled at USD 25 million (up 16 per cent WoW).
KARACHI, June 18, 2022 – The latest data on the cryptocurrency market shows a significant increase in the exchange rate of Bitcoin (BTC) in both Pakistani Rupees (PKR) and US Dollars (USD).
KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs67.02 on June 18, 2022 at 11:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs66.44 at closing on June 17, 2022.
The rate of Ripple in US Dollar (USD) is $0.32 on June 18, 2022 at 11:00 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.32 at closing on June 17, 2022.
Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.
KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs11.85 on June 18, 2022 at 10:54 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs11.43 at closing on June 17, 2022.
The rate of Dogecoin in US Dollar (USD) is $0.06 on June 18, 2022 at 10:54 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.06 at closing on June 17, 2022.
Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.
ISLAMABAD: Penalty amount has been revised for filing income tax returns after due date.
The Finance Bill, 2022 proposed revision in penalty amount for late filing of income tax returns by salaried persons and other taxpayers.
The government presented federal budget 2022/2023 on June 10, 2022 and proposed various amendments to tax laws for ensure documentation and broadening of tax base.
The Finance Bill, 2022 proposed amendment to Section 182 of Income Tax Ordinance, 2001. According to the amendment penalty amount revised where any person fails to furnish a return of income as required under Section 114 within the due date.
The proposed amendment is:
“Such person shall pay a penalty equal to higher of –
(a) 0.1 per cent of the tax payable in respect of that tax year for each day of default; or
(b) rupees one thousand for each day of default:
Provided that minimum penalty shall be —
(i) rupees ten thousand in case of individual having seventy-five percent or more income from salary; or
Provided further that maximum penalty shall not exceed two hundred percent of tax payable by the person in a tax year:
Provided also that the amount of penalty shall be reduced by 75 per cent, 50 per cent and 25 per cent if the return is filed within one, two and three months respectively after the due date or extended due date of filing of return as prescribed under the law;
Explanation.— For the purposes of this entry, it is declared that the expression “tax payable” means tax chargeable on the taxable income on the basis of assessment made or treated to have been made under section 120, 121, 122 or 122D.
The existing amount of penalty is as followed:
Such person shall pay a penalty equal to 0.1 per cent of the tax payable in respect of that tax year for each day of default subject to a maximum penalty of 50 per cent of the tax payable provided that if the penalty worked out as aforesaid is less than forty thousand rupees or no tax is payable for that tax year such person shall pay a penalty of forty thousand rupees:
Provided that If seventy-five percent of the income is from salary and the amount of income under salary is less than five million Rupees, the minimum amount of penalty shall be five thousand Rupees:
Provided further that if taxable income is up-to eight hundred thousand Rupees, the minimum amount of penalty shall be five thousand Rupees:
Provided also that the amount of penalty shall be reduced by 75 per cent, 50 per cent and 25 per cent if the return is filed within one, two and three months respectively after the due date or extended due date of filing of return as prescribed under the law.
Explanation.— For the purposes of this entry, it is declared that the expression “tax payable” means tax chargeable on the taxable income on the basis of assessment made or treated to have been made under section 120, 121, 122 or 122C.
