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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 / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

Markets →

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