How to Claim Agricultural Income Tax Exemption
Navigating the complexities of income tax can be challenging, especially when it comes to the unique landscape of agriculture in Pakistan. Section 41 of the Income Tax Ordinance offers a […]
How to Claim Deductions from Income from Other Sources
A Guide to Section 40 of the Income Tax Ordinance 2001 While understanding your income under Section 39 of the Pakistani Income Tax Ordinance is crucial, knowing what expenses you […]
How to Distinguish b/w Private Company from Public Company?
In the dynamic world of business, understanding the different types of companies is crucial for investors, entrepreneurs, and policymakers alike. In Pakistan, the definition of “public company” outlined in clause […]
What is Profit on Debt?
Demystifying “Profit on a Debt”: Unpacking the Legalities in Pakistan In the intricate world of finance, understanding the various sources of income is crucial, especially when navigating tax regulations. In […]
IT and IT-Enabled Services in Pakistan
In the digital age, information technology (IT) and IT-enabled services (ITES) have become the backbone of countless industries and a significant driver of economic growth. Pakistan, recognizing this potential, has […]
Tax Deductions for Property Owners
Demystifying Tax Deductions for Property Owners Owning property can be a rewarding investment, but navigating the complexities of income tax can be daunting. Section 15A of the Income Tax Ordinance […]
Taxing Times for Landlords? A Guide to Rental Income Taxation
Navigating the complexities of taxation can be daunting, especially when it comes to rental income. But worry not, property owners in Pakistan! This article aims to simplify Section 15 of […]
Tax Deductions for Consumer Loan Bad Debts
Creating a Financial Cushion: Understanding Section 29A of the Income Tax Ordinance, 2001 In the realm of consumer loans, financial institutions in Pakistan face the inevitable risk of bad debts. […]
Demystifying Tax Savings for Rental Property Owners in Pakistan (2024)
Owning rental property can be a lucrative investment, but navigating the complexities of income tax can feel overwhelming. This guide simplifies the process, focusing on tax rates and allowable deductions […]
Cash Withdrawals Now Taxed for Non-Filers
Boosting coffers and transparency, Pakistan has brought back cash withdrawal taxes for 2024. The aim? Encourage participation in the formal tax system by targeting those outside the net. Here’s what […]