Section 108A of Income Tax Ordinance, 2001 has explained that when a transaction is not arm’s length a commission can obtain report from Chartered Accountant (CA) or Cost and Management Accountant (CMA). 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 […]

Section 108 of Income Tax Ordinance, 2001 deals with income and deduction for tax in respect of any transaction between associates. 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 108 of the […]

Section 106A of Income Tax Ordinance, 2001 explained restriction on deduction of profit on debt payable to associated enterprises. 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 106A of the Income Tax […]

Section 106 of Income Tax Ordinance, 2001 explained the tax treatment on income of a foreign controlled resident company.