May 23, 2022

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Pakistan Revenue

Tag: Income Tax Ordinance 2001

Computation of income tax on profit and gains for SMEs
Nov 15
Taxation

Computation of income tax on profit and gains for SMEs

Fourteenth Schedule of Income Tax Ordinance, 2001 has described the rules for computation of income tax on profit and gains for Small and Medium Enterprises (SMEs). 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 Fourteenth Schedule of Income Tax […]

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Tax credit for charitable donations under 13 schedule
Nov 15
Taxation

Tax credit for charitable donations under 13 schedule

Thirteenth Schedule of Income Tax Ordinance, 2001 has explained the tax credit for charitable donations. 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 Thirteenth Schedule of Income Tax Ordinance, 2001: S. No. Name (1) (2)   1.   any […]

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Category of taxpayers for income tax on imports
Nov 14
Taxation

Category of taxpayers for income tax on imports

Twelfth Schedule of Income Tax Ordinance, 2001 has explained the category of taxpayers for income tax on imports. 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 Twelfth Schedule of Income Tax Ordinance, 2001: PCT CODE DESCRIPTION   (1) (2) […]

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Computation of income tax for builders and developers
Nov 13
Taxation

Computation of income tax for builders and developers

Eleventh Schedule of Income Tax Ordinance, 2001 has explained the computation of income tax for builders and developers. 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 Eleventh Schedule of Income Tax Ordinance, 2001: 1. Eligibility.–These rules shall apply to […]

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Rules for persons not appearing in ATL
Nov 12
Taxation

Rules for persons not appearing in ATL

Tenth Schedule of Income Tax Ordinance, 2001 has explained the rules for persons not appearing in Active Taxpayers’ List. 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 Tenth Schedule of Income Tax Ordinance, 2001: 1. Rate of deduction or […]

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Taxation on profits and gains for traders
Nov 12
Taxation

Taxation on profits and gains for traders

Part I, Ninth Schedule of Income Tax Ordinance, 2001 has explained the rules for computation of tax on profits and gains of trader. 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 Ninth Schedule of Income Tax Ordinance, 2001: Notwithstanding […]

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Rules for computing capital gains on listed securities
Nov 11
Taxation, Top stories

Rules for computing capital gains on listed securities

Eight Schedule of Income Tax Ordinance, 2001 has explained the rules for computing capital gains on listed securities. 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 Eight Schedule of Income Tax Ordinance, 2001: 1. Manner and basis of computation […]

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Income tax computation of banking companies
Nov 10
Money & Banking, Taxation

Income tax computation of banking companies

Seventh Schedule of Income Tax Ordinance, 2001 has explained the income tax computation of banking companies. 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 Seventh Schedule of Income Tax Ordinance, 2001: 1. Subject to the provisions of Chapter VII […]

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Approval of gratuity funds by Commissioner IR
Nov 8
Taxation

Approval of gratuity funds by Commissioner IR

Part III, Sixth Schedule of Income Tax Ordinance, 2001 has explained the procedure for the grant of approval to gratuity funds for treatment of income tax. by Commissioner Inland Revenue (IR). The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through […]

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