56 cities: Values of immovable properties revised upward by FBR ISLAMABAD: The Federal Board of Revenue (FBR) Tuesday substantially raised values of immovable properties up to 75... Updated 30 Oct, 2024 03:45pm
Business & Finance Probe into burdening taxpayers: FBR fails to timely submit comments before FTO ISLAMABAD: The Federal Board of Revenue (FBR) has failed to timely submit comments before the Federal Tax Ombudsman... Updated 17 Oct, 2024 07:33am
Print 10pc tax credit allowed by SC to persons who imported, installed machinery till June 2019 ISLAMABAD: The Supreme Court of Pakistan (SC) has allowed 10 percent tax credit to the persons who have imported and... Updated 19 Sep, 2024 09:25am
Business & Finance Explaining alternative dispute resolution (ADR) General, 1. Dispute resolution is a preferred vehicle to settle cases where questions of facts or a composite... Published 13 Sep, 2024 07:08am
Print FTO concerned about not allowing tax credit to salaried class ISLAMABAD: Federal Tax Ombudsman (FTO) has expressed serious concern that the current withholding procedure of tax... Updated 14 Aug, 2024 10:12am
Print FBR tells banks: Only bad debts classified as loss are expense ISLAMABAD: The Federal Board of revenue (FBR) has conveyed to banks that only bad debts classified as loss... Updated 31 Jul, 2024 09:29am
Print Sale of govt-allotted immovable properties: Scope of WHT exemption expanded ISLAMABAD: The government has expanded the scope of withholding tax exemption on the sale of government-allotted... Updated 03 Jul, 2024 08:32am
Editorials Missed revenue targets EDITORIAL: The Federal Board of Revenue’s contention that it will fall short of its revenue target of Rs9.42... Published 20 Jun, 2024 06:10am
Print Super tax cannot be imposed retrospectively: LHC ISLAMABAD: Lahore High Court (LHC) Tuesday held that super tax under Section 4C (Super tax on high-earning persons)... Updated 05 Jun, 2024 02:11pm
Print Immovable properties: BHC declares Section 7E of ITO as ultra vires to constitution ISLAMABAD: Balochistan High Court (BHC) has declared Section 7E (tax on deemed income basis) of the Income Tax... Updated 01 Jun, 2024 03:51pm
Print Liquidation of appeals before IR, ATIR: Tax Laws Act to be effective from May 6 ISLAMABAD: The government has enforced the Tax Laws (Amendment) Act, 2024 from May 6, 2024, in an attempt to... Updated 08 May, 2024 08:48am
Business & Finance Super tax: SC to resume hearing on Tuesday ISLAMABAD: The Supreme Court will resume hearing the case regarding super tax on high earning persons imposed vide... Published 21 Apr, 2024 04:10am
Opinion Deemed income tax on ownership of vacant plot incorrect–I The Finance Act, 2022 introduced a novel tax under Section (7E) of the Income Tax Ordinance, 2001. This is deemed... Updated 13 Apr, 2024 04:11am
Print FBR finalises draft Tax Law (First Amendment) Ord ISLAMABAD: The Tax Law (First Amendment) Ordinance 2024 has proposed that the appeals filed before the Appellate... Updated 08 Apr, 2024 08:38am
Print Cases falling under LHC jurisdiction: Section 7E of tax law will now be applicable ISLAMABAD: The Federal Board of Revenue (FBR) Wednesday directed field formations of Punjab that the section 7E (tax... Updated 29 Feb, 2024 08:51am
Business & Finance ‘Misuse’ of Sec 122(5A) of IT Ord: PTBA urges FBR to stop field forces from issuing notices ISLAMABAD: The Pakistan Tax Bar Association (PTBA) has asked the Federal Board of Revenue (FBR) chairman to stop... Published 30 Jan, 2024 04:52am
Print ‘Deemed income’ on immovable properties: SC asks HCs to decide the matter expeditiously ISLAMABAD: The Supreme Court (SC) has directed the High Courts to expeditiously decide the matter of tax on “deemed... Updated 24 Jan, 2024 10:00am
Print Section 214C of ITO 2001: Whole income tax audit selection process not ultra vires to law: FBR ISLAMABAD: The Federal Board of Revenue (FBR) has declared that the whole income tax audit selection process under... Updated 22 Jan, 2024 10:02am
Print Failure to integrate with ‘RADAR’: FBR being empowered to penalise govt entities ISLAMABAD: The Federal Board of Revenue (FBR) is being legally empowered to impose penalties and prosecute... Updated 02 Jan, 2024 08:53am
Print High court suspends 40pc additional tax on windfall income of banks ISLAMABAD: After Islamabad and Lahore High Courts, the Sindh High Court (SHC) has also suspended the SRO... Updated 26 Dec, 2023 09:56am
Print ATIR’s orders: FTO explains what actually constitutes maladministration ISLAMABAD: The Federal Tax Ombudsman (FTO) has ruled that the delay in giving appeal effect to the order which is in... Updated 22 Dec, 2023 09:03am
Print Tax on deemed income basis: BHC asks why FBR has different policies for Punjab and Balochistan ISLAMABAD: Balochistan High Court (BHC) has directed the Federal Board of Revenue (FBR) to explain why Section 7E... Updated 20 Dec, 2023 09:47am
Print Case of getting inadmissible tax refunds: ATIR turns down rectification plea filed by Chinese firm ISLAMABAD: The Full Bench of the Appellate Tribunal Inland Revenue (ATIR) has imposed costs and dismissed... Updated 18 Dec, 2023 09:14am
Print FBR sets up body to resolve issue of pending refunds ISLAMABAD: The Federal Board of Revenue (FBR) has constituted a committee for the resolution of pending income tax... Updated 14 Dec, 2023 09:55am
Print LHC, too, suspends SRO about tax on banks’ windfall income ISLAMABAD: The Lahore High Court (LHC) has also suspended the SRO 1588(I)/2023 of the Federal Board of Revenue (FBR)... Updated 01 Dec, 2023 09:50am
Pakistan Mosque: FTO says charging IT by KE thru power bill illegal ISLAMABAD: Federal Tax Ombudsman (FTO) has ruled that charging of income tax by M/s K-Electric, Karachi through... Published 23 Nov, 2023 03:19am
Print Attachment of bank account: LHC takes notice of ‘illegal’ recovery by FBR ISLAMABAD: The Lahore High Court (LHC) has taken notice of illegal recovery by the Federal Board of Revenue (FBR)... Updated 12 Nov, 2023 09:10am
Print Sections 111, 122 of Income Tax Ordinance: FBR cannot issue combined notice to taxpayer: IHC ISLAMABAD: Islamabad High Court (IHC) has ruled that the Federal Board of Revenue (FBR) cannot issue a combined... Updated 04 Nov, 2023 09:23am
Print Recovery of CVT under Finance Act 2022: Taxmen’s orders are without jurisdiction: former FBR chief ISLAMABAD: All the orders passed by the taxation officers/Inland Revenue officers for the recovery of Capital Value... Updated 24 Oct, 2023 09:38am
Print Taxpayers’ queries: FTO concerned at FBR Member’s lack of response ISLAMABAD: Federal Tax Ombudsman (FTO) has regretted that the Federal Board of Revenue (FBR) Member Legal has wasted... Updated 17 Oct, 2023 08:29am
PIA privatisation: Blue World City refuses to match PC’s ‘minimum expectation’ of Rs85.03bn, sticks to Rs10bn offer
PIA privatisation: Blue World City refuses to match PC’s ‘minimum expectation’ of Rs85.03bn, sticks to Rs10bn offer