Payment of advance tax U/S 147 Today our topic is an advance tax against which notices from the Federal Board of Revenue as per section “147 Intimation to Pay Advance Tax” or “Payment of Advance Tax U/C 147” are received by the taxpayers in compliance with quarterly reporting. Section 147 is an advance tax payable …
Tax Applicable to Rent Income from Property Today our topic is a tax applicable to rent income from property. Rent Income whether it is received or receivable considered as rent income from the property for the period to which it relates. Although there is rent income that is derived from rent in respect of building …
Super Tax under 4C Today our topic is Super Tax newly introduced a year ago as per section 4C in the income tax ordinance 2001. The Government introduced a concept of “Super Tax” Charged on high-earning persons through a Finance Act-2022. The super tax is to be charged on top of income that is already …
INTRODUCTION OF Set off and Carry Forward of Losses Today, our topic is how to set off and carry forward of Losses of income in a tax year as per the income tax ordinance 2001. It is one of the main concerns of business owners or directors and persons running businesses in Pakistan. A Loss …
INTRODUCTION OF NOTICE FROM FBR Today, our topic is to discuss “Notice From FBR” and why taxpayers receive notices from the Federal Board of Revenue and how they need to respond to them on time. The following are the most common notices that are frequently received by Tax Payers. 176(1) Notice to obtain information or …
INTRODUCTION Read complete detailed information on “Comments on Budget 2023-2024 of Pakistan”. We have presented brief comments on amendments suggested and proposed in the new budget 2023-2024 in the Income Tax Ordinance 2001, Sale Tax Act 1990, and Federal Exercise Act 2005. In addition, the comments on the amendments are based on relevant current practices …
Practical understanding, e-filling, and Learning of Income and Sale Tax Course Are you interested to learn income and sales tax practically with its e-filling? It is the right place where you will come to know practical learning of tax activities applied to business as well as individual practices. We have designed a course “Practical Learning …
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Introduction Today we discuss “Salary Income Under Taxation in Pakistan”. Is your income that comes from the salary head? Do you want to know what is a tax on such income? then it is the right place where you have come. Here, we will discuss everything about salary income in Pakistan. As per law, all …
Introduction Today our topic is “Income from export of IT service under taxation”. The export of IT services has become one of the major revenue contributors to the economy of Pakistan as reported in last recent years. Revenue from the export of IT services for the period 2022 was Rs. 2.66 billion approx. and target …
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