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Taxpayer

Use of software/programme: Payment is business income, not royalty: SC

ISLAMABAD: The Supreme Court of Pakistan, while exercising its review jurisdiction, has held that the...

Published 13 Dec, 2024 06:29am

Business & Finance

CS underscores need for introducing advance MVT payment option

KARACHI: Chief Secretary Sindh Asif Hyder Shah has proposed introducing an option for taxpayers to pay motor vehicle...

Published 07 Dec, 2024 06:51am

Pakistan

President confirms FTO’s order against FBR’s ‘coercive measures’

ISLAMABAD: President Asif Ali Zardari has confirmed a landmark order issued by Federal Tax Ombudsman (FTO), who has...

Published 02 Sep, 2024 06:40am

Pakistan

Taxpayers to be provided justice in 4 to 6 weeks: FTO

KARACHI: Federal Tax Ombudsman (FTO) Dr. Asif Mahmood Jah (HI, SI) has announced quick action on the complaints of...

Published 10 Aug, 2024 06:51am

Business & Finance

LTO fails to deduct tax on transfer from CWIP to fixed assets

LAHORE: The Lahore Tax Office (LTO) failed to deduct tax on transfer from construction work in progress (CWIP) to...

Published 03 Aug, 2024 06:46am

Pakistan

FIA summons FBR Member Operations

ISLAMABAD: The Federal Investigation Agency has summoned the Federal Board of Revenue (FBR) Member Operations Mir...

Published 27 Jul, 2024 07:16am

Business & Finance

Since transactions done thru banking channel the same cannot be termed ‘fictitious’: appellate forum

LAHORE: A tax officer has failed to prove advance against shares as fictitious transactions transacted through...

Published 09 Jul, 2024 06:39am

Business & Finance

Going after taxpayers without sound legal footing constitutes harassment: FTO

ISLAMABAD: The Inland Revenue tax officials are allegedly committing the worst kind of harassment by issuing illegal...

Published 08 Jun, 2024 07:00am

Business & Finance

Immovable property between spouses: Commissioner IR fails to charge capital gains tax

LAHORE: The Commissioner Inland Revenue, RTO-lI Lahore, has failed to establish chargeability of capital gain on...

Published 04 Jun, 2024 06:28am

Pakistan

Violation of SC orders: FTO orders probe against CTO Islamabad officials

ISLAMABAD: The Federal Tax Ombudsman (FTO) Dr Asif Mahmood Jah has ordered an investigation against the Federal ...

Published 18 May, 2024 05:45am

Pakistan

Widow challenges advance tax against cellular phone services

LAHORE: A widow has challenged advance tax against cellular phone services, being not liable to pay income tax or...

Published 01 May, 2024 04:14am

Business & Finance

Tax department fails to recover tax from bank accounts of taxpayer

LAHORE: The Tax department has failed to recover the tax assessed from bank accounts of taxpayer without issuance of...

Published 23 Apr, 2024 03:41am

Business & Finance

Delay in sales tax payments: Fibres’ manufacturer fails to furnish explanation

LAHORE: A fibres manufacturer has failed to furnish plausible explanation for sales tax payments while agitating ...

Published 16 Apr, 2024 03:38am

Editorials

FBR overstepping the line

EDITORIAL: About time the Islamabad High Court (IHC) gave honest taxpayers, swindled by the FBR (Federal Board of...

Published 05 Apr, 2024 04:50am

Business & Finance

Transaction against a taxpayer: Authorities fail to establish re-characterization

LAHORE: Tax authorities fail to establish re-characterization of a transaction against a taxpayer in the absence of...

Published 05 Apr, 2024 04:50am

Business & Finance

Tax officer passes assessment order beyond show-cause notice

LAHORE: A tax officer passed an assessment order beyond the show-cause notice without confronting the same to the...

Published 27 Mar, 2024 04:38am

Business & Finance

Capricious tax officer rectifies order after settlement by relevant forums

LAHORE: A capricious tax officer has proceeded to rectify the very order-in-original despite the matter having been...

Published 20 Mar, 2024 03:00am

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

Business & Finance

Cotton processor secures input tax refund

LAHORE: A cotton processor has secured input tax refund, which was rejected by the sales tax department after the...

Published 05 Mar, 2024 03:09am

Business & Finance

Deduction of WHT: Pipe maker fails to shift onus on tax dept

LAHORE: A pipe manufacturer failed to shift onus on the tax department against deduction of withholding tax without...

Published 02 Mar, 2024 04:16am

Business & Finance

Taxpayer claims audit proceedings conducted under repealed provisions

LAHORE: A taxpayer has alleged the income tax department to have used repealed provisions of the law to carry out...

Published 28 Feb, 2024 06:10am

Markets

Yarn trader succeeds availing concessional rate after legal fight

LAHORE: A yarn trader has succeeded in availing the facility of concessional rate despite a hot pursuit of the tax...

Published 18 Feb, 2024 03:01am

Business & Finance

RMG chain store remains unable to prove misuse of authority

LAHORE: A Readymade Garment (RMG) chain store could not prove misuse of authority by Commissioner Inland Revenue...

Published 17 Feb, 2024 05:51am

Business & Finance

FTO orders probe into bank account attachments without recovery notice

ISLAMABAD: Federal Tax Ombudsman (FTO) has ordered to conduct an investigation against Secretary Revenue Division ...

Published 26 Jan, 2024 04:58am

Business & Finance

E-processing, e-issuance of refund: FBR still requires order by court or FTO’s recommendation

ISLAMABAD: In spite of insertion of section 170A in the Income Tax Ordinance 2001 through Finance Act 2021, the...

Published 18 Jan, 2024 05:54am

Business & Finance

Sales: tax practitioners point out major anomaly

LAHORE: Treating sales alone as income without considering purchases in order to establish suppression of sales is...

Published 18 Jan, 2024 05:54am

Business & Finance

ATIR Lahore explains how foreign companies should approach

ISLAMABAD: The Appellate Tribunal Inland Revenue (ATIR) Lahore has unanimously held that the foreign companies have...

Published 31 Dec, 2023 03:04am

Business & Finance

Gujrat Tax Bar Association demands streamlining of services for taxpayers

GUJRAT: The Gujrat Tax Bar Association, led by President Khurram Taufiq Malik and General Secretary Tahir Hassan...

Published 19 Dec, 2023 05:20am

Business & Finance

Ship-breaking firm recovers damages against tax dept

LAHORE: A private firm involved in the business of ship breaking has recovered damages against the Income Tax...

Published 29 Nov, 2023 05:09am

Pakistan

Plea against harassment: FTO summons FBR member, commissioner tomorrow

ISLAMABAD: The Federal Tax Ombudsman (FTO) has summoned Member Operations-IR, Federal Board of Revenue (FBR) and...

Published 23 Nov, 2023 03:19am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 17	278.60
USD PKR Interbank Buying / Dec 17	278.60
USD to Japanese Yen / Dec 17	1.05
USD to Swiss Franc / Dec 17	0.90
Pound Sterling to USD / Dec 17	1.27
Euro to USD / Dec 17	154.09

Stock	Volume
S&P 500 / Dec 16	6,074.08
Nasdaq / Dec 16	20,173.89
Dow Jones / Dec 16	43,717.48
India Sensex / Dec 17	80,962.81
Tokyo Nikkei / Dec 17	39,364.68
Hang Seng / Dec 17	19,777.10
FTSE 100 / Dec 17	8,214.43
Germany DAX 30 / Dec 17	20,290.76

Item	Value
Gold 10 Grams PKR / Dec 16	243,059.70
Crude Oil USD/Barrel / Dec 17	70.82
Karachi Cotton PKR/37.32 KG / Dec 17	17,585
Gold Spot USD/Ounce / Dec 17	2,654.67
Cotton US¢/pound / Dec 17	69.11
Petrol/Litre / Dec 18	252.10

Gainers
Losers
Leaders

Stock	Price
Dadabhoy Cement / Dec 17 Dadabhoy Cement Industries Limited(DBCI)	7.11 ▲ 1.00 (16.37%)
First Capital Equities / Dec 17 First Capital Equities Limited(FCEL)	6.74 ▲ 0.82 (13.85%)
Oilboy Energy / Dec 17 Oilboy Energy Limited(OBOY)	10.45 ▲ 1.00 (10.58%)
LSE Financial Serv. / Dec 17 LSE Financial Services Limited(LSEFSL)	18.32 ▲ 1.67 (10.03%)
Air Link Com. / Dec 17 Air Link Communication Limited(AIRLINK)	208.93 ▲ 18.99 (10.00%)
Data Agro / Dec 17 Data Agro Limited(DAAG)	126.58 ▲ 11.51 (10.00%)
Fazal Cloth / Dec 17 Fazal Cloth Mills Limited(FZCM)	179.55 ▲ 16.32 (10.00%)
Land Mark Spinning / Dec 17 Landmark Spinning Industries Limited(LMSM)	63.91 ▲ 5.81 (10.00%)
Pak Datacom / Dec 17 Pak Datacom Limited(PAKD)	94.49 ▲ 8.59 (10.00%)

Stock	Price
Tri-Star Power / Dec 17 Tri-Star Power Limited(TSPL)	5.51 ▼ -0.74 (-11.84%)
Gulshan Sp. / Dec 17 Gulshan Spinning Mills Limited(GSPM)	4.19 ▼ -0.51 (-10.85%)
Sanghar Sugar / Dec 17 Sanghar Sugar Mills Limited(SANSM)	32.02 ▼ -3.56 (-10.01%)
Aisha Steel (CPS) / Dec 17 Aisha Steel Mills Limited (CPS)(ASLCPS)	20.17 ▼ -2.24 (-10.00%)
Chakwal Spinning / Dec 17 Chakwal Spinning Mills Limited(CWSM)	53.72 ▼ -5.97 (-10.00%)
Leiner Pak Gelat / Dec 17 Leiner Pak Gelatine Limited(LPGL)	126.67 ▼ -14.07 (-10.00%)
Mari Petroleum / Dec 17 Mari Petroleum Company Limited(MARI)	809.76 ▼ -89.97 (-10.00%)
Quetta Textile / Dec 17 Quetta Textile Mills Limited(QUET)	17.73 ▼ -1.97 (-10.00%)
Fateh Ind. / Dec 17 Fateh Industries Limited(FIL)	120.57 ▼ -13.37 (-9.98%)

Stock	Volume
WorldCall Telecom / Dec 17 Worldcall Telecom Limited(WTL)	403,228,918 ▼ -0.06
Pak Elektron / Dec 17 Pak Elektron Limited(PAEL)	107,379,306 ▲ 3.33
Cnergyico PK / Dec 17 Cnergyico PK Limited(CNERGY)	59,584,754 ▼ -0.06
B.O.Punjab / Dec 17 The Bank of Punjab(BOP)	57,023,129 ▲ 0.59
Pak Refinery / Dec 17 Pakistan Refinery Limited(PRL)	55,947,968 ▲ 3.65
Sui South Gas / Dec 17 Sui Southern Gas Company Limited(SSGC)	42,917,218 ▲ 1.17
PIA Holding Co.Ltd / Dec 17 PIA Holding Company Limited(PIAHCLA)	36,337,248 ▲ 1.16
Fauji Foods Ltd / Dec 17 Fauji Foods Limited(FFL)	33,958,478 ▼ -0.28
Hub Power Co. / Dec 17 The Hub Power Company Limited(HUBC)	33,067,460 ▲ 11.97

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