salary Archives - Page 4 of 4

Senate advises salary increase by 10 percent

June 26, 2020June 26, 2020Mrs. Anjum Shahnawaz

ISLAMABAD: The Senate of Pakistan has recommended increase in salary of government employees by at least 10 percent for fiscal year starting July 01, 2020. As per the general consensus recommendations of the upper house after the debate on budget 2020/2021, it is recommended that salary of government employees should be enhanced at least 10 […]

Tax deduction allowed on salary up to Rs25,000 paid in cash

June 24, 2020June 24, 2020Mrs. Anjum Shahnawaz

KARACHI: The Finance Bill 2020 has proposed major changes related to tax deduction in order to provide relief to business community. Under the proposed amendments the threshold amount has been increased up to Rs25,000 for tax deduction in case salary is paid. According to interpretation of the Finance Bill 2020 by BDO Pakistan, the Finance […]

Sindh unveils Rs1.2 trillion budget 2020/2021 with no new tax, 10 percent salary increase

June 17, 2020June 17, 2020Mrs. Anjum Shahnawaz

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Wednesday presented Rs1.2 trillion provincial budget 2020/2021 with announcing no new tax and increase of 10 percent salary of the provincial government employees. On the floor of the house while delivering speech for budget 2020/2021, the chief minister said that the total outlay of budget for […]

Commission constituted to review salary, perks of government employees

April 21, 2020April 21, 2020Mrs. Anjum Shahnawaz

ISLAMABAD: The federal government has constituted a pay and pension commission to review existing salary and perks. According to the finance ministry, the government of Pakistan had constituted a Pay and Pension Commission, with effect from 14-04-2020. The Composition of the Commission shall be as follows: Mr. Wajid Rana, Former Federal Secretary, Chairman. Mr. Nazar […]

Salary tax potential much higher than existing collection: FBR

February 16, 2020March 4, 2021Mrs. Anjum Shahnawaz

KARACHI: Federal Board of Revenue (FBR) has said that income tax from salary is an important source of revenue the world over. The real potential is much higher than the present collection, according to an official document. Monitoring of withholding tax on salaries is a regular feature. Nevertheless, there is scope for further improvement in […]

Gratuity to be treated as salary for tax matters

February 15, 2020February 17, 2021Mrs. Anjum Shahnawaz1 Comment

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 […]

Cash payment above Rs15,000 as salary not to be treated as income

December 15, 2019February 28, 2021Mrs. Anjum Shahnawaz

KARACHI: An amount above Rs15,000 paid in cash as salary will not be treated as income and employers will not be allowed adjustment. The FBR officials said that any salary paid or payable exceeding Rs15,000 per month other than by a crossed cheque or direct transfer of funds to the employee’s bank account will not […]

Budget 2019/2020: salary, pension increased up to 10 percent

June 11, 2019March 10, 2021Faisal Shahnawaz

ISLAMABAD: The government has announced increase up to 10 percent in salary and pension in the federal budget 2019/2020. Hammad Azhar, State Minister for Revenue presented Budget 2019/2020 on Tuesday and announced following relief measures for government employees and pensioners. Ad-hoc Relief Allowance at 10 percent on running Basic Pay of BPS 2017 to civil […]

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