FBR goes after 169 wealthy non-filers; many more set to face ‘hot pursuit’

By -

Comments

  1. Faraz Ahmed Qureshi11 October 2018 at 20:58

    Finally an Excellent Step every True Taxpayer would definitely prefer!
    Catch The Tax Dodgers!!!

    ReplyDelete

Post a Comment

Live Stream

Legal Advise

Legal Advise

Taxation Training

Taxation Training

Popular posts from this blog

Procedure for registering mobile phones of persons returning to/visiting Pakistan

By -
Image
MOBILE TAX CALCULATOR NOTE: Please bear in mind that these figures are very close to,  but  NOT  the exact amount  you will be required to pay in tax. For simplicity's sake, the calculator also assumes that you are a tax non-filer. The exchange rate is assumed to be $1=Rs140. CLICK HERE   HOW TO REGISTER MOBILE PHONES BY FORIEGN TRAVELERS - DAWN NEWS The Federal Board of Revenue (FBR) has allowed sixty days period for international travelers to get duty-free registration of mobile    THE NEWS APPLICABLE DUTY/TAX STRUCTURE ON IMPORT OF MOBILE HANDSETS PCT (Pakistan Customs Tariff Code for Classification): 8517.1219  PCT Duty & Taxes 8517.1219 Customs/ Regulatory Duty  (i) Rs.250/set upto C&F Value of US $ 60;  (ii) @10% Adval of C&F value above US $ 60 & upto US $ 130;  (iii)@20% Adval of C&F value above US $ 130.  Sales Tax (S.No.2of the Ninth Schedule to ...
Read more

Taxability of Income From Property

By -
Image
NOTE: The following discussion is under the provisions of Income Tax Ordinance, 2001 only. Provisions of Provincial Sales Tax on services will be updated over a period of time. The 'rent' received or receivable by a person for a tax year is taxable under the head 'Income from Property'. However, any rent which is exempt from tax under any provision of the Income Tax Ordinance, 2001 shall be ignored while computing the "Rent Chargeable to Tax" (RCT) under this head. [15(1 )]  RENT [2(49), 15(2) to (5), 16]  "Rent" means any amount received or receivable by the owner of the land or the building for its use or occupation by some other person. Generally, the amount received or receivable is taken as rent. However, where the 'fair market rent' (FMR) is more than the actual rent, then the fair market rent shall be taken as rent. [15(4)]  For the purposes of the Income Tax, following amounts are also included in "Rent Cha...
Read more

ASSESSMENT PROCEDURES UNDER THE INCOME TAX ORDINANCE, 2001

By -
Image
If  you are searching for various types of notices sent by FBR please click here 1. Original Assessment Order - Filing of Return of Income Section 120 of the Income Tax Ordinance, 2001 A return of income once filed by the taxpayer instantly becomes an assessment order under section 120 of the Income Tax Ordinance, 2001. Where a taxpayer has furnished a complete return of income (other than a revised return under sub-section (6) of section 114) for a tax year ending on or after the 1st day of July, 2002,— (a) the Commissioner shall be taken to have made an assessment of taxable income for that tax year, and the tax due thereon, equal to those respective amounts specified in the return; and (b) the return shall be taken for all purposes of this Ordinance to be an assessment order issued to the taxpayer by the Commissioner on the day the return was furnished. Section 114 of the Income Tax Ordinance, 2001 Please click here to see the complete list of ...
Read more