Section 170 of Income Tax Ordinance, 2001 explains the procedure for claiming an income tax refund. 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 170 of Income Tax Ordinance, 2001: 170. Refunds.— (1) A […]

Section 169 of Income Tax Ordinance, 2001 explains the final tax regime under the income tax ordinance.

Section 168 of Income Tax Ordinance, 2001 describes the provisions for claiming tax credit against paid amount.

The Income Tax Ordinance, 2001, has introduced Section 167, which outlines the concept of indemnity.

Section 166 of Income Tax Ordinance, 2001 explained that tax recovery shall be first from a person in the estate of liquidation or bankruptcy. 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 […]

Section 165B of Income Tax Ordinance, 2001 makes it mandatory for financial institutions, including banks, to furnish transaction details of non-residents or other reportable persons to the Federal Board of Revenue (FBR).

Section 165 of Income Tax Ordinance, 2001 explains that withholding agents are required to provide taxpayer’s information. 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 165 of Income Tax Ordinance, 2001: 165. Statements.— (1) […]

Section 164 of Income Tax Ordinance, 2001 tells about the issuing tax collection certificate is must for withholding agents. 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 164 of Income Tax Ordinance, 2001: 164. […]