Karachi, December 4, 2023 – The Federal Board of Revenue (FBR) has shed light on the fee for technical services during the tax year 2024, updating the Income Tax Rules, 2002.
Karachi, December 2, 2023 – The Federal Board of Revenue (FBR) has explained tax treatment of foreign-source income of residents during tax year 2024.
Karachi, December 1, 2023 – In a significant development, provincial building control authorities are now mandated to collect a five percent advance tax before approving building construction plans, as per the updated Income Tax Rules, 2002 for the tax year 2024, issued by the Federal Board of Revenue (FBR).
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has issued a directive to all investors in the Pakistan Stock Exchange (PSX) to maintain comprehensive records for the verification of liability discharge during the tax year 2024.
Karachi, November 27, 2023 – Rules have been notified for computing capital gain or loss in Pakistan during tax year 2024. The Federal Board of Revenue (FBR) has announced the updated Income Tax Rule, 2002 for the tax year 2024, specifying the methodology for computing capital gains or losses in Pakistan.
Karachi, November 26, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards enhancing transparency and accuracy in tax reporting by issuing a detailed list of particulars required for claiming depreciation deduction during the tax year 2024.
E-intermediary is explained as a person or a firm appointed on behalf of another person or a firm to get the job done. The Income Tax Rules, 2002 updated up to September 08, 2020 issued by the Federal Board of Revenue (FBR) explained “e-intermediary” as a person registered as,- (i) Chartered Accountant with the Institute […]
ISLAMABAD: Income tax law has prohibited tax officials from arresting any woman or a minor for recovery of tax default amount, officials at Federal Board of Revenue (FBR) said on Monday. They said that Commissioner Inland Revenue, having authority to recover tax amount by using various options defined under the law, has been prohibited to […]
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued draft rules for filing appeals electronically from January 01, 2021. The FBR issued SRO 1262(I)/2020 to propose amendments in Income Tax Rules, 2002. According to the SRO the FBR proposed amendments to rule 70 to 70O. The draft rules are as follow: 76. Appeal to the […]
ISLAMABAD: Procedure for obtaining certificate to get exemption from advance income tax on imported goods has been laid down in Income Tax Rules, 2002. The FBR issued Income Tax Rules, 2002 (updated up to September 08, 2020) under which Rule 40D explains the procedure for exemption certificate. Rule 40D: Import under an Exemption Certificate (1) […]