FBR directs issuing exemption certificates to gratuity, provident funds

ISLAMABAD: Federal Board of Revenue (FBR) has issued directives for grant of income tax exemption to gratuity and provident funds. Through an office order, the FBR issued directives on complaints received from taxpayers that tax offices were refusing to grant income tax exemption against gratuity funds/ provident funds. The FBR expressed concern on the treatment […]

by Anjum Shah

Gratuity to be treated as salary for tax matters

Feb 15

Taxation

Gratuity to be treated as salary for tax matters

KARACHI: Federal Board of Revenue (FBR) has said that gratuity received by an employee during his lifetime shall be treated as salary income and will be subject to tax under Income Tax Ordinance, 2001. Officials at the FBR said that where any gratuity is paid to an employee during his life-time, the gratuity shall be […]

by Anjum Shah