Trends - income tax ordinance - Business Recorder

income tax ordinance

Foreign currency deals during 2021, 2022: FBR to impose 40pc additional tax on windfall profits of banks

ISLAMABAD: The Federal Board of Revenue (FBR) will shortly issue a statutory regulatory order (SRO) to impose 40...

Published 22 Nov, 2023 05:48am

Non-filers: DTOs authorised to disconnect utility connections

ISLAMABAD: The government on Friday established 145 District Tax Offices (DTOs) across the country for bringing 1.5...

Updated 18 Nov, 2023 08:48pm

Business & Finance

Money laundering: ‘Taxpayers prefer to challenge jurisdiction of income tax department’

LAHORE: Taxpayers involved in money laundering prefer to challenge the jurisdiction of the income tax department...

Published 14 Oct, 2023 05:32am

FBR to field DTOs to identify new taxpayers

ISLAMABAD: The Federal Board of Revenue (FBR) plans to depute District Taxation Officers Inland Revenue across...

Updated 09 Oct, 2023 09:44am

Immovable properties: FBR issues guidelines for taxpayers

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday issued detailed guidelines for taxpayers to pay tax on...

Updated 16 Sep, 2023 03:59pm

Business & Finance

Section 7E of Income Tax Ord: IR Commissioners told to issue exemptions in 1-2 days: FBR chief

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Amjad Zubair Tiwana Wednesday said the FBR has directed...

Updated 10 Aug, 2023 06:56am

Business & Finance

Non-resident applicants: IRIS to automatically process, issue exemption certificates

ISLAMABAD: The Federal Board of Revenue’s electronic system (IRIS) will automatically process and issue exemption...

Published 07 Jul, 2023 05:24am

Tax expenditures constitute 36.43pc of FBR tax collection?

ISLAMABAD: The tax expenditures remained 36.43 percent of the total Federal Board of Revenue (FBR) tax collection in...

Updated 12 Jun, 2023 08:43am

Business & Finance

NOTES ON CLAUSES

Clause 3(1)? Seeks to amend section 2 (s) to enable Pakistan Customs ...

Published 10 Jun, 2023 05:01am

Supply of Thar coal to industry: Tax amendments on the cards

ISLAMABAD: Prime Minister Office (PMO) has directed Federal Board of Revenue (FBR) to alter/ amend Income Tax...

Updated 17 Apr, 2023 08:48am

Business & Finance

Exchange fluctuations: Foreign firms’ subsidiaries not allowed to cut income

LAHORE: Tax authorities are not allowing subsidiaries of foreign companies to deduct the loss on income from ...

Published 09 Mar, 2023 06:23am

High-income earners directed to pay 50pc of super tax liability

ISLAMABAD: The Supreme Court Monday directed high-income earners to pay 50 percent of the due liability with regard...

Updated 07 Feb, 2023 08:39am

Business & Finance

FTO asks FBR to withdraw notices against deceased taxpayer

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to withdraw notices of...

Updated 07 Jan, 2023 11:10am

Notice issued to Shabbar withdrawn on FTO’s order

ISLAMABAD: The timely intervention of the Federal Tax Ombudsman (FTO) has resulted in the withdrawal of an illegal...

Updated 30 Dec, 2022 08:42am

Business & Finance

FTO says lease agreements are different from toll tax

ISLAMABAD: Federal Tax Ombudsman (FTO) has categorically ruled that all lease agreements are not similar to toll tax...

Published 27 Oct, 2022 05:54am

Pakistan

Sec 175 of ITO: FBR’s DI&I has legal jurisdiction to issue notices: IHC

ISLAMABAD: The Islamabad High Court (IHC) on Tuesday held that the Directorate of Intelligence & Investigation ...

Published 26 Oct, 2022 05:52am

Notices issued by FBR’s Directorate I&I set aside by court

ISLAMABAD: The Lahore High Court (LHC) has observed that the business community has agitated that the Directorate of...

Updated 11 Sep, 2022 10:52am

Opinion

Determining an individual’s residency status: some taxation anomalies

The Finance Act, 2022 has virtually decided that a Pakistani citizen can be taxed in Pakistan even if he never comes...

Published 24 Aug, 2022 05:08am

Business & Finance

Inordinate delays in dispute resolution impair overall tax governance: SC

ISLAMABAD: The Supreme Court held and declared that Rule 22(1) of Appellate Tribunal Inland Revenue Rules, 2010 to...

Published 07 Aug, 2022 05:44am

Business & Finance

Broadening tax base: FBR negligence tantamount to misrule: FTO

Investigation concludes field formations are not vigilant in procuring information related to unregistered buyers of sugar

Updated 30 Jul, 2022 11:59am

Business & Finance

Tax incentives granted to film industry by FBR

ISLAMABAD: The Federal Board of Revenue (FBR) has granted a number of tax incentives to the film industry from July...

Published 27 Jul, 2022 05:23am

Business & Finance

Immovable property deals: Boards of revenue told to collect enhanced WHT under Sec 236C

New rates of advance tax on sale/transfer and purchase of immovable properties will be applicable from July 1, 2022

Updated 26 Jul, 2022 11:59am

Opinion

Taxing nation’s savings – but at what cost?

The budget 2022-23 is continuation of a series of budgets for the last several years that have been increasing tax...

Updated 25 Jun, 2022 05:16pm

Business & Finance

FBR extends deadline

ISLAMABAD: The Federal Board of Revenue (FBR) has extended the deadline by June 15, 2022, for the filing of...

Published 02 Jun, 2022 06:19am

Opinion

Digital mode of payment

An amendment was introduced to the Income Tax Ordinance, 2001 (ITO) in September 2021, vide presidential ordinance ...

Published 01 Jun, 2022 05:53am

FBR asked to disclose all amnesty scheme-related details

ISLAMABAD: Pakistan Information Commission (PIC) has directed the Federal Board of Revenue (FBR) to disclose...

Updated 23 May, 2022 09:53am

Rectification of tax credit : FTO seeks clarification from FBR

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to issue a clarification...

Updated 14 May, 2022 09:48am

KTBA takes strong exception to FBR’s show-cause notices

Business & Finance

Gainers
Losers
Leaders

Stock	Price
Kohinoor Power / Nov 28 Kohinoor Power Company Limited(KOHP)	4.88 ▲ 1.00 (25.77%)
Saritow Spinning / Nov 28 Saritow Spinning Mills Limited(SSML)	6.90 ▲ 0.90 (15.00%)
Power Cem(Pref) / Nov 28 Power Cement (Pref)(POWERPS)	8.60 ▲ 1.00 (13.16%)
Hira Textile / Nov 28 Hira Textile Mills Limited(HIRAT)	2.20 ▲ 0.24 (12.24%)
Service Textile / Nov 28 Service Industries Textiles Limited(SERT)	10.11 ▲ 1.00 (10.98%)
Bela Auto / Nov 28 Bela Automotives Limited(BELA)	7.29 ▲ 0.71 (10.79%)
Shaheen Ins. / Nov 28 Shaheen Insurance Company Limited(SHNI)	3.74 ▲ 0.29 (8.41%)
Premier Insurance / Nov 28 Premier Insurance Limited(PINL)	7.90 ▲ 0.58 (7.92%)
Saif Textile / Nov 28 Saif Textile Mills Limited(SAIF)	12.40 ▲ 0.88 (7.64%)
Calcorp / Nov 28 Calcorp Limited(CASH)	19.91 ▲ 1.39 (7.51%)

Stock	Price
F.Credit & Inv / Nov 28 First Credit and Investment Bank Limited(FCIBL)	5.53 ▼ -0.66 (-10.66%)
PICIC Ins.Ltd. / Nov 28 PICIC Insurance Limited(PIL)	0.90 ▼ -0.09 (-9.09%)
Pervez Ahmed Co / Nov 28 Pervez Ahmed Consultancy Services Ltd.(PASL)	0.81 ▼ -0.07 (-7.95%)
Samba Bank / Nov 28 Samba Bank Limited(SBL)	7.85 ▼ -0.66 (-7.76%)
Universal Network (GEM) / Nov 28 Universal Network Systems Limited (GEM)(GEMUNSL)	38.54 ▼ -3.12 (-7.49%)
Metro Steel / Nov 28 Metropolitan Steel Corporation Limited(MSCL)	24.97 ▼ -2.02 (-7.48%)
Tandlianwala Sugar / Nov 28 Tandlianwala Sugar Mills Limited(TSML)	65.05 ▼ -4.95 (-7.07%)
Bank of Khyber / Nov 28 The Bank of Khyber(BOK)	11 ▼ -0.80 (-6.78%)
Hala Enterprise / Nov 28 Hala Enterprises Limited(HAEL)	10.75 ▼ -0.66 (-5.78%)
Punjab Mod / Nov 28 First Punjab Modaraba(FPJM)	1.60 ▼ -0.09 (-5.33%)

Stock	Volume
Kohinoor Spining / Nov 28 Kohinoor Spinning Mills Limited(KOSM)	109,392,000 ▲ 0.20
WorldCall Telecom / Nov 28 Worldcall Telecom Limited(WTL)	47,603,061 ▲ 0.08
Treet Corp. (R) / Nov 28 Treet Corporation Limited (R)(TREETR2)	24,352,497 ▼ -0.08
B.O.Punjab / Nov 28 The Bank of Punjab(BOP)	23,054,217 ▲ 0.24
Yousuf Weaving / Nov 28 Yousaf Weaving Mills Limited(YOUW)	22,758,500 ▼ -0.22
Maple Leaf Cement / Nov 28 Maple Leaf Cement Factory Limited(MLCF)	17,865,589 ▲ 0.26
D.G.K.Cement / Nov 28 D.G. Khan Cement Company Limited(DGKC)	15,655,201 ▲ 2.67
Agritech Limited / Nov 28 Agritech Limited(AGL)	15,233,500 ▲ 0.63
Pak Elektron / Nov 28 Pak Elektron Limited(PAEL)	14,205,993 ▼ -0.01
P.I.A.C.(A) / Nov 28 Pakistan International Airlines Corp(PIAA)	13,108,000 ▼ -0.06

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 28	285.85
USD PKR Interbank Buying / Nov 28	285.35
USD to Japanese Yen / Nov 28	148.25
USD to Swiss Franc / Nov 28	0.88
Pound Sterling to USD / Nov 28	1.26
Euro to USD / Nov 28	1.10
UK LIBOR % / Nov 27	5.46

Stock	Volume
S&P 500 / Nov 27	4550.43
Nasdaq / Nov 27	14241.02
Dow Jones / Nov 27	35333.47
India Sensex / Nov 28	65983.73
Tokyo Nikkei / Nov 28	33370.40
Hang Seng / Nov 28	17485.79
FTSE 100 / Nov 28	7442.27
Germany DAX 30 / Nov 28	15941.55
France CAC40 / Nov 28	7237.40

Item	Value
Karachi Cotton PKR/37.32 KG / Nov 27	17735
Gold 10 Grams PKR / Nov 27	185614
Crude Oil USD/Barrel / Nov 28	74.99
Gold Spot USD/Ounce / Nov 28	2015.58
Cotton US¢/pound / Nov 28	79.06

Calculate your monthly liability in FY24

income tax ordinance

Most Popular Articles