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income tax ordinance

Income Tax Ordinance: FBR drafting new law to end categories of ‘late-filers’, ‘non-filers’

ISLAMABAD: The Federal Board of Revenue (FBR) is drafting a new law to end the categories of “late-filers” and...

Updated 21 Oct, 2024 03:24pm

Section 122 (2) of ITO: ATIR reconciles apparently conflicting provisions

ISLAMABAD: In a landmark judgement, Appellate Tribunal Inland Revenue, Islamabad has reconciled the apparently...

Updated 16 Sep, 2024 03:12pm

Deductions, tax credits to salaried class, pensioners: FTO directs FBR, AGPR and AG Sindh to allow adjustment

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR), Accountant General of...

Updated 04 Aug, 2024 10:10am

Non-performing bank loans: Finance bill proposes amendments in 7th Schedule

ISLAMABAD: Finance Bill 2024 has proposed amendments in Seventh Schedule (Banking Schedule) of the Income Tax...

Updated 24 Jun, 2024 08:47am

Business & Finance

FBR imposes penalty of ‘Compulsory Retirement’ upon IRO

ISLAMABAD: The Federal Board of Revenue (FBR) has imposed a major penalty of “Compulsory Retirement” upon an...

Published 29 May, 2024 06:05am

Editorials

Bringing traders into the tax net

EDITORIAL: Successive governments in Pakistan have tried and failed to bring the country’s traders and retailers...

Updated 27 Mar, 2024 05:07am

Business & Finance

FBR notice issued within 6 years: ‘Taxpayer bound to maintain tax record till...’

ISLAMABAD: Federal Tax Ombudsman (FTO) Friday declared that once Federal Board of Revenue’s (FBR) notice is issued...

Published 16 Mar, 2024 06:26am

Pakistan

IHC’s restrictions impeding tax recovery efforts in Islamabad?

KARACHI: The field formations of the Federal Board of Revenue (FBR) are facing difficulties in executing tax ...

Published 15 Feb, 2024 05:39am

Business & Finance

Industrial undertakings: Minimum tax payable despite exemption under Economic Reforms Act

LAHORE: Minimum tax is payable by the industrial undertakings despite enjoying exemption under the Economic Reforms...

Published 24 Jan, 2024 05:07am

Business & Finance

FATA residents fail to avail WHT exemption deduction by NSC

LAHORE: Residents of the erstwhile Federally Administered Tribal Areas (FATA) have failed to avail exemption from...

Published 07 Jan, 2024 02:43am

Opinion

Is Super Tax payable on dividend?

Introduction, 1- This note has been prepared to dispel the incorrect perception that Super Tax under Section (4C) of...

Updated 03 Jan, 2024 06:07am

Business & Finance

‘Powers of commissioners being used by DCs neither gazetted nor displayed on FBR website’

LAHORE: The Deputy Commissioners in some field formations are using the powers of Commissioners Inland Revenue for...

Published 22 Dec, 2023 05:22am

Rs940bn target for Dec: FBR chief starts meetings to review progress

KARACHI: The Federal Board of Revenue (FBR) is likely to struggle hitting its revenue target of Rs. 940 billion for...

Updated 13 Dec, 2023 08:50am

Business & Finance

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

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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