Trends - Section 7E - Business Recorder

Section 7E

FPCCI seeks abolishment of Section 7E of ITO 2001

KARACHI: Atif Ikram Sheikh, President FPCCI, has echoed the collective demand of the business community that the...

Published 08 Jun, 2024 07:00am

Markets

Tax proposals: PBC calls for ‘out of box solutions’

The Pakistan Business Council (PBC), one of the country’s largest corporate sector advocacy platforms, has urged...

Updated 20 May, 2024 08:06pm

Opinion

Section 7E: Constitutional validity

Taxing immoveable property and taxing income arising from immoveable property are two different concepts. The former...

Published 19 Apr, 2024 05:07am

Opinion

Deemed income tax on ownership of vacant plot of land incorrect—IV

For the sake of clarity we reproduce the gist of the Order passed by the Sindh High Court as under. This fundamental...

Published 16 Apr, 2024 03:38am

‘The Federation, in light of Entry 50, cannot tax the capital value of immovable property at all’

ISLAMABAD: Advocate Raashid Anwer argued that the federation, in light of Entry 50, could not tax the capital value...

Updated 28 Mar, 2024 09:38am

Pakistan

Islamabad High Court declares Section 7E to be ultra vires the Constitution

The Islamabad High Court (IHC) has declared the Section 7E introduced through the Finance Act, 2022, to be ultra...

Published 01 Mar, 2024 09:21pm

Cases related to Section 7E: Hearing on day-to-day basis from March 26th onwards: SC

ISLAMABAD: The Supreme Court has decided that from March 26th, it would hear cases related to Section 7E introduced...

Updated 20 Feb, 2024 09:41am

Pakistan

Immoveable property: PHC strikes down Sec 7E of Income Tax Ordinance

ISLAMABAD: The Peshawar High Court (PHC) has declared that Section 7E of the Income Tax Ordinance, 2001, which...

Updated 15 Feb, 2024 06:04am

Pakistan

Tax on ‘deemed income’: interim relief till February 19

The Supreme Court of Pakistan (SC) has granted interim relief to petitioners seeking exemption on Section 7E (tax on...

Published 23 Jan, 2024 05:05pm

Business & Finance

Recovery under Section 7E: No coercive steps against taxpayers subject to 50pc payment: SHC

ISLAMABAD: The Sindh High Court (SHC) has issued a restraining order for not taking any coercive measure against...

Published 31 Oct, 2023 05:26am

Pakistan

Section 7E: Sindh High Court grants stay for TY2023 subject to 50% payment

The Sindh High Court (SHC) has issued a stayorder against Section 7E (tax on deemed income basis) of the Income Tax...

Updated 30 Oct, 2023 10:29pm

IRIS system’s capacity enhanced: Up to 0.6m taxpayers to file tax returns on a daily basis

ISLAMABAD: The Federal Board of Revenue (FBR) has enhanced the capacity of the IRIS system enabling 0.5-0.6 million...

Updated 28 Sep, 2023 10:20am

Business & Finance

FBR urged to extend income tax return deadline

ISLAMABAD: Tax bar associations, chartered accountant firms, tax advisers and tax experts have approached the...

Updated 25 Sep, 2023 09:15am

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

PTBA asks FBR to take notice of sudden change in IRIS module

LAHORE: Pakistan Tax Bar Association (PTBA) leadership has urged Chairman Federal Board of Revenue (FBR) to look...

Updated 04 Sep, 2023 09:37am

FBR launches automated system (portal) for taxpayers

ISLAMABAD: The Federal Board of Revenue (FBR), Friday, launched an automated system (portal) for taxpayers to obtain...

Updated 02 Sep, 2023 09:16am

Filers/non-filers: Sec 7E won’t apply to cases falling within LHC jurisdiction

ISLAMABAD: The Federal Board of Revenue (FBR) has implemented the judgment of the Lahore High Court (LHC) on Section...

Updated 16 Aug, 2023 08:48am

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

NA panel told: Property transfers, registration halted due to Section 7E ITO

ISLAMABAD: The registration and transfers of immovable properties across Pakistan has been totally stopped after...

Updated 03 Aug, 2023 09:14am

Tax under Section 7E on immoveable properties: Inland revenue chief commissioners issued instructions

Business & Finance

Opinion

Legal fiction, Section 7E & Constitution

The Elahi Cotton case (it is the most misunderstood and misapplied judgement) makes absolutely clear that any item ...

Published 02 Dec, 2022 05:47am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 18	278.55
USD PKR Interbank Buying / Dec 18	278.25
USD to Japanese Yen / Dec 18	153.63
USD to Swiss Franc / Dec 18	0.89
Pound Sterling to USD / Dec 18	1.27
Euro to USD / Dec 18	1.05

Stock	Volume
S&P 500 / Dec 17	6,050.61
Nasdaq / Dec 17	20,109.06
Dow Jones / Dec 17	43,449.90
India Sensex / Dec 18	80,231.76
Tokyo Nikkei / Dec 18	39,081.71
Hang Seng / Dec 18	19,857.31
FTSE 100 / Dec 18	8,222.99
Germany DAX 30 / Dec 18	20,267.35

Item	Value
Gold 10 Grams PKR / Dec 17	241,860
Petrol/Litre / Dec 18	252.10
Crude Oil USD/Barrel / Dec 18	70.43
Karachi Cotton PKR/37.32 KG / Dec 18	17,585
Gold Spot USD/Ounce / Dec 18	2,644.54
Diesel/Litre / Dec 18	255.38

Gainers
Losers
Leaders

Stock	Price
LSE Capital / Dec 18 LSE Capital Limited(LSECL)	6.70 ▲ 1.00 (17.54%)
Shaheen Ins. / Dec 18 Shaheen Insurance Company Limited(SHNI)	6.98 ▲ 0.89 (14.61%)
S.G.Power / Dec 18 S.G. Power Limited(SGPL)	9.17 ▲ 1.00 (12.24%)
Faran Sugar (R) / Dec 18 Faran Sugar Mills Limited (R)(FRSMR)	9.43 ▲ 1.00 (11.86%)
Dadabhoy Cement / Dec 18 Dadabhoy Cement Industries Limited(DBCI)	7.95 ▲ 0.84 (11.81%)
Aisha Steel Mill / Dec 18 Aisha Steel Mills Limited(ASL)	11.06 ▲ 1.01 (10.05%)
Oilboy Energy / Dec 18 Oilboy Energy Limited(OBOY)	11.50 ▲ 1.05 (10.05%)
Quetta Textile / Dec 18 Quetta Textile Mills Limited(QUET)	19.67 ▲ 1.79 (10.01%)
Suhail Jute / Dec 18 Suhail Jute Mills Limited(SUHJ)	61.55 ▲ 5.60 (10.01%)

Stock	Price
Blue-Ex Ltd / Dec 18 Blue-Ex Limited (GEM)(GEMBLUEX)	37.76 ▼ -4.20 (-10.01%)
National Bank / Dec 18 National Bank of Pakistan(NBP)	66.38 ▼ -7.38 (-10.01%)
First Imrooz Mod. / Dec 18 First Imrooz Modaraba(FIMM)	180.01 ▼ -19.99 (-10.00%)
Imperial Limited / Dec 18 Imperial Limited(IML)	20.16 ▼ -2.24 (-10.00%)
J.A.Textile / Dec 18 J.A. Textile Mills Limited(JATM)	44.37 ▼ -4.93 (-10.00%)
J.K.Spinning / Dec 18 J.K. Spinning Mills Limited(JKSM)	58.50 ▼ -6.50 (-10.00%)
Mari Petroleum / Dec 18 Mari Petroleum Company Limited(MARI)	728.78 ▼ -80.98 (-10.00%)
Bilal Fibres / Dec 18 Bilal Fibres Limited(BILF)	12.61 ▼ -1.40 (-9.99%)
Calcorp Ltd / Dec 18 Calcorp Limited(CASH)	26.22 ▼ -2.91 (-9.99%)

Stock	Volume
WorldCall Telecom / Dec 18 Worldcall Telecom Limited(WTL)	151,921,663 ▼ -0.13
Pak Elektron / Dec 18 Pak Elektron Limited(PAEL)	107,502,606 ▲ 0.64
Cnergyico PK / Dec 18 Cnergyico PK Limited(CNERGY)	58,285,174 ▼ -0.44
B.O.Punjab / Dec 18 The Bank of Punjab(BOP)	57,202,972 ▼ -0.01
Pak Refinery / Dec 18 Pakistan Refinery Limited(PRL)	55,973,468 ▲ 0.50
Sui South Gas / Dec 18 Sui Southern Gas Company Limited(SSGC)	42,923,281 ▲ 2.37
PIA Holding Co.Ltd / Dec 18 PIA Holding Company Limited(PIAHCLA)	36,897,118 ▲ 0.09
Hub Power Co. / Dec 18 The Hub Power Company Limited(HUBC)	33,289,968 ▼ -4.13
Aisha Steel Mill / Dec 18 Aisha Steel Mills Limited(ASL)	32,850,685 ▲ 1.01

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Budget 2024-25: income tax calculator for FY25

Section 7E

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