Pakistan Revenue
Karachi Tax Bar Association proposes removing surplus fund tax and administrative expense restrictions on non-profit organisations The Karachi Tax Bar Association (KTBA) has proposed significant tax relief measures for non-profit organisations (NPOs) in the Budget 2026-27, arguing that the existing tax framework restricts welfare activities and creates financial challenges for charitable institutions.
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If you are a salaried individual earning above the threshold of Rs. 600,000 annually, understanding how the Federal Board of Revenue (FBR) calculates your income is essential for accurate tax return filing in tax year 2026.
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Making a false or misleading statement to tax authorities is a serious offence in Pakistan. The law prescribes criminal penalties, including imprisonment and fines, under the Income Tax Ordinance, 2001 (updated for tax year 2026).
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The Federal Board of Revenue (FBR) allows taxpayers in Pakistan to adjust certain losses against income under specific conditions, as provided in the Income Tax Ordinance, 2001.
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The Income Tax Ordinance, 2001 allows a tax credit for people who contribute to a pension fund during the tax year 2025-26. Section 63 of the updated law explains how this benefit works for salary earners.
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The Income Tax Ordinance, 2001 explains how charitable donations are treated for tax purposes in the tax year 2025-26. Section 61 provides details about who can claim a tax credit and how the amount is calculated.
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The Income Tax Ordinance, 2001 explains how to calculate the cost of stock-in-trade when it is sold or used during the tax year 2025-26. Section 35 of the updated law gives a simple formula for this calculation.
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The Income Tax Ordinance, 2001 clearly defines the principles of accrual based accounting for income under the head “Business” for the tax year 2025-26. Section 34 of the updated ordinance explains how income and expenses are treated under this system.
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The Federal Board of Revenue (FBR) has announced a significant tax relief for employees by granting exemptions to employee share schemes under the updated Income Tax Ordinance, 2001 for the tax year 2025-26.
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The Federal Board of Revenue (FBR) has clarified how perquisites will be treated under the updated Income Tax Ordinance, 2001 for the tax year 2025-26.
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