Advance tax rates on telephone and internet users

Oct 8

Taxation

Advance tax rates on telephone and internet users

Section 236 of Income Tax Ordinance, 2001 has explained the advance tax rates on telephone and internet users. 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 236 of Income Tax Ordinance, 2001: 236. Telephone and internet users.- (1) Advance tax […]

by Hamza Shahnawaz

Advance tax rates on electricity consumption

Oct 7

Taxation

Advance tax rates on electricity consumption

Section 235 of Income Tax Ordinance, 2001 has explained the advance tax rates on electricity consumption. 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 235 of Income Tax Ordinance, 2001: 235. Electricity consumption.- (1) There shall be collected advance […]

by Faisal Shahnawaz

Oct 7

Taxation

Advance income tax on motor vehicles

Section 234 of Income Tax Ordinance, 2001 has defined the rate of advance income tax on motor vehicles to be collected by persons collecting motor vehicle 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 […]

by Mrs. Anjum Shahnawaz

Income tax on payment for brokerage, commission

Oct 7

Taxation

Income tax on payment for brokerage, commission

Section 233 of Income Tax Ordinance, 2001 has defined rate of income tax on payment on account of brokerage and commission. 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 233 […]

by Hamza Shahnawaz

Date extension to become useless on flawed return form

Oct 6

Taxation

Date extension to become useless on flawed return form

Karachi Tax Bar Association (KTBA) on Wednesday pointed out that serious technical issues in online return form are not resolved and the date extension granted by the Federal Board of Revenue (FBR) will become useless. The FBR through Circular No. 08 extended the last date for filing income tax return for tax year 2021 up […]

by Mrs. Anjum Shahnawaz

POS installation offers reduced tax rates: LTO Karachi

Oct 6

Taxation, Trade & Industry

POS installation offers reduced tax rates: LTO Karachi

KARACHI: Officials of Large Taxpayers Office (LTO) Karachi have apprised the business community that installation of Point of Sale (POS) offered reduced rate of sales tax. A team of tax officials from Large Tax Office (LTO) Karachi visited Pakistan Business Council (PBC) on Wednesday to discuss the integration of Tier-1 retailers, a statement said on […]

by Mrs. Anjum Shahnawaz

Oct 6

Taxation

Advance tax on private motor vehicles

Section 231B of Income Tax Ordinance, 2001 explains advance tax on private motor vehicles. 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 231B of Income Tax Ordinance, 2001: 231B. Advance tax on private motor vehicles.— (1) Every motor vehicle registering […]

by Hamza Shahnawaz

FBR issues list of 1136 retailers for POS integration

Oct 5

Taxation

FBR issues list of 1136 retailers for POS integration

ISLAMABAD: Federal Board of Revenue (FBR) has issued a list of 1136 big retailers for mandatory installation of Point of Sale (POS). The FBR issued Sales Tax General Order (STGO) No. 3 of 2022 on Tuesday. The FBR said that through Finance Act, 2019 added a sub-section (6) to Section 8B of the Sales Tax […]

by Faisal Shahnawaz

Oct 5

Taxation

Functions of Directorates under tax law

Section 228 to Section 230I of Income Tax Ordinance, 2001 explains the functions of Directorates under tax law.

by Faisal Shahnawaz

Reward for officials, whistleblowers in tax recovery

Oct 3

Taxation

Reward for officials, whistleblowers in tax recovery

Section 227A and Section 227B of Income Tax Ordinance, 2001 have laid down procedure for reward to officials of Federal Board of Revenue (FBR) and whistleblowers in recovery of tax evaded amount. 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 […]

by Faisal Shahnawaz