Trends - Income Tax Ordinance 2001

Income Tax Ordinance 2001

Tax Laws (Amendment) Act 2024: Dysfunctional ATIR: PTBA urges Law minister to form oversight body

ISLAMABAD: The Pakistan Tax Bar Association (PTBA) has expressed serious concern that Tax Laws (Amendment) Act 2024...

Published 15 Nov, 2024 06:20am

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

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

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

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

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

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

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

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

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

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

‘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

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

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

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

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

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

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

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

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

Mosque: FTO says charging IT by KE thru power bill illegal

Pakistan

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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Income Tax Ordinance 2001

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