News stories for Hamid Waleed - Business Recorder

Hamid Waleed

Business & Finance

Government fails to set up appellate tribunal under amended Nepra Act

The federal government has not set up the appellate tribunal for the last one and a half years under section 12A of amended NEPRA Act, 2018.

Updated 29 Oct, 2019 07:09am

Business & Finance

'Restaurants liable to pay sales tax to FBR not PRA after Finance Act 2019'

The restaurants are liable to pay sales tax on food supply to the Federal Board of Revenue (FBR) under the Sales Tax Act, 1990 after the Finance Act, 2019, and the Punjab Revenue Authority (PRA) has no authority to collect such sales tax, said tax expert

Updated 26 Oct, 2019 08:03am

Business & Finance

Government, FBR accused of delaying fixed-tax regime for traders

Both the ill-intention of the Federal Board of Revenue (FBR) bureaucracy and inefficiency of the government have led to undue delay in issuance of Fixed Tax Regime for traders, causing negligible business transactions in the months of July and August and

Updated 14 Oct, 2019 11:31am

'Federal government not competent to impose tax on agriculture income'

The Federal government is not competent to impose a tax on agricultural income whether directly or indirectly. However, as per an amendment made in section 111 through the Finance Act 2013, where a taxpayer explains the nature and source of amount credite

Updated 01 Nov, 2019 08:36am

'Federal government not competent to impose tax on agriculture income'

Published 08 Oct, 2019 12:00am

Corruption charges: Lesco management accused of protecting XEN

The Lahore Electric Supply Company (LESCO) management is allegedly trying to protect a XEN by not suspending him after his name appeared in an FIR against corruption charges. It is learnt that LESCO management is striving to dilute the charges against Muh

Published 04 Oct, 2019 12:00am

LTBA seeks extension in filing of returns up to December 31

The Lahore Tax Bar Association (LTBA) has urged Chairman Federal Board of Revenue (FBR) to extend the date of filing of Income Tax return of Individuals, Salaried Individual & AOPs for the year 2019 up to 31st December, 2019 to facilitate the genuine taxp

Updated 30 Sep, 2019 10:30am

'Selection of cases for audit in any of past three tax years illegal'

Selection of taxpayers' cases for income tax audit whose income tax affairs have been audited in any of the preceding three tax years is in derogation of the exemption allowed to the petitioner.

Published 28 Sep, 2019 12:00am

Finance Act 2019 termed a key step towards documentation of national economy

Steps taken in the Finance Act 2019 to discourage undocumented and non-cash economy would be a key step towards federal government's initiatives regarding documentation of the national economy, said tax experts. Talking to Business Recorder, tax expert Mu

Published 25 Sep, 2019 12:00am

'Trade misinvoicing deprives exchequer 11 percent of total revenue'

Trade misinvoicing is not only a major source of capital flight and reverse capital flight, but it also deprives the national exchequer of an amount equal to 11 percent of the total revenue generated through customs duties and export tax, said tax experts

Published 21 Sep, 2019 12:00am

Advance tax on marriage in halls: FBR chairman urged to take notice

Imposition of a minimum slab of Rs20,000 as advance tax under the Finance Act 2018 demands an early notice of Chairman Federal Board of Revenue (FBR), as a tax can only be imposed on 'income' and not on anything else, much less on expenditure, which is no

Published 19 Sep, 2019 12:00am

CRTO, Lesco join hands under tax broadening drive

The Corporate Regional Tax Office (CRTO) and Lahore Electric Supply Company (Lesco) have joined hands under the tax broadening drive of Federal Board of Revenue (FBR). A unique exercise of issuing notices to both industrial and commercial consumers, warni

Published 17 Sep, 2019 12:00am

Tax administration's discreationary powers lead to litigation, opine experts

Entering and searching property of taxpayer to seize material, including record, accounts, documents and computer etc., without due diligence is a negation of the fundamental right of taxpayers. According to tax experts, the discretionary attitude of tax

Published 16 Sep, 2019 12:00am

Disconnections: Lesco issues notices to 57,700 industrial, commercial consumers

The Lahore Electric Supply Company (LESCO), in collaboration with the Corporate Regional Tax Office (CRTO) Lahore, has issued notices to industrial and large commercial consumers for disconnection of supplies in case they failed to get National Tax Number

Published 14 Sep, 2019 12:00am

Businesses: Forceful monitoring by FBR staff inflicts negative impact

Entering of the field formation staff of the Federal Board of Revenue (FBR) to business premises and forceful monitoring of stock, production and supply of manufactured goods without any prior intimation, notice or any show-cause notice has inflicted a ne

Updated 11 Sep, 2019 06:25am

Lesco and SNGPL consumers: RTO Lahore issues 63011 sales tax registration letters/notices

The Regional Tax Office-II, Lahore has issued 63011 sales tax registration letters/notices to industrial and commercial connection holders of LESCO and SNGPL. Chief Commissioner, RTO-II, Lahore Ahmad Shuja Khan said that influx of new sales tax registrati

Published 05 Sep, 2019 12:00am

Lesco bans installment facility for commercial, industrial bills

The Lahore Electric Supply Company (Lesco) has banned the facility of installments on commercial and industrial bills while the domestic consumers would only be allowed installments up to 31st of August, said the sources.

Published 24 Aug, 2019 12:00am

Sindh PA outranks other assemblies: PILDAT

In a PILDAT comparative assessment of performance of Pakistan's four provincial assemblies in their first year after the 2018 general election, the provincial assembly of Sindh has outranked other provincial assemblies in holding sessions for most days du

Published 10 Aug, 2019 12:00am

Lesco charges 17 percent GST from zero-rated industry sans notification

The Lahore Electric Supply Company (Lesco) has charged 17 percent GST to zero-rated industrial consumers of electricity without tariff notification/direction by the government to withdraw the facility of zero rating and charge GST from them. The Lesco sta

Published 19 Jul, 2019 12:00am

Markets

Uncertainty regarding taxes brings market activities to halt

Prevailing uncertainty regarding imposition of taxes has brought market activities to a halt, as market sources are of the view that small and medium traders are clueless and totally blank with regard to new tax regime. Major retail chains have some idea

Published 16 Jul, 2019 12:00am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 21	278.03
USD PKR Interbank Buying / Nov 21	277.78
USD to Japanese Yen / Nov 21	154.92
USD to Swiss Franc / Nov 21	0.88
Pound Sterling to USD / Nov 21	1.26
Euro to USD / Nov 21	1.05

Stock	Volume
S&P 500 / Nov 20	5,917.11
Nasdaq / Nov 20	18,966.14
Dow Jones / Nov 20	43,408.47
India Sensex / Nov 21	77,137.20
Tokyo Nikkei / Nov 21	38,026.17
Hang Seng / Nov 21	19,620.49
FTSE 100 / Nov 21	8,069.57
Germany DAX 30 / Nov 21	18,942.65

Item	Value
Petrol/Litre / Nov 21	248.38
Crude Oil USD/Barrel / Nov 21	69.38
Karachi Cotton PKR/37.32 KG / Nov 21	17,785
Gold 10 Grams PKR / Nov 21	238,340
Gold Spot USD/Ounce / Nov 21	2,662.71
Diesel/Litre / Nov 21	255.14

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 21 786 Investments Limited(786)	7.11 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 21 Al-Abbas Sugar Mills Limited(AABS)	611.40 ▼ 0.00 (0.00%)
Agro Allianz / Nov 21 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 21 Ali Asghar Textile Mills Limited(AATM)	63.60 ▼ 0.00 (0.00%)
Allied Bank / Nov 21 Allied Bank Limited(ABL)	114.42 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 21 Abbott Laboratories (Pakistan) Limited(ABOT)	1,048.22 ▼ 0.00 (0.00%)
Abson Ind. / Nov 21 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 21 Alfalah Consumer Index ETF.(ACIETF)	12.32 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 21 786 Investments Limited(786)	7.11 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 21 Al-Abbas Sugar Mills Limited(AABS)	611.40 ▲ 0.00 (0.00%)
Agro Allianz / Nov 21 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 21 Ali Asghar Textile Mills Limited(AATM)	63.60 ▲ 0.00 (0.00%)
Allied Bank / Nov 21 Allied Bank Limited(ABL)	114.42 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 21 Abbott Laboratories (Pakistan) Limited(ABOT)	1,048.22 ▲ 0.00 (0.00%)
Abson Ind. / Nov 21 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 21 Alfalah Consumer Index ETF.(ACIETF)	12.32 ▲ 0.00 (0.00%)

Stock	Volume
K-Electric Ltd. / Nov 21 K-Electric Limited(KEL)	174,389,145 ▲ 0.00
Hascol Petrol / Nov 21 Hascol Petroleum Limited(HASCOL)	63,973,243 ▲ 0.00
Kohinoor Spining / Nov 21 Kohinoor Spinning Mills Limited(KOSM)	62,996,737 ▲ 0.00
Aisha Steel Mill / Nov 21 Aisha Steel Mills Limited(ASL)	48,137,561 ▲ 0.00
Waves Home Appliances / Nov 21 Waves Home Appliances Limited(WAVESAPP)	43,506,391 ▲ 0.00
Lotte Chemical / Nov 21 Lotte Chemical Pakistan Limited(LOTCHEM)	40,852,960 ▲ 0.00
Telecard Limited / Nov 21 Telecard Limited(TELE)	36,937,252 ▲ 0.00
Cnergyico PK / Nov 21 Cnergyico PK Limited(CNERGY)	31,401,025 ▲ 0.00
WorldCall Telecom / Nov 21 Worldcall Telecom Limited(WTL)	31,346,592 ▲ 0.00

Markets →

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