In Pakistan’s income tax system, you might encounter two terms: withholding tax and advance tax. While they both involve tax deductions, there are key differences: Withholding Tax: Definition: Tax deducted […]
Understanding withholding tax and advance tax is crucial for taxpayers in Pakistan. Here’s a breakdown of both concepts and how they differ: Withholding Tax: Definition: Tax deducted at the source […]
The amount of advance tax that is due is based on the taxpayer’s estimated income for the year. The taxpayer must file an advance tax return with the government on […]
Section 147 of the Income Tax Ordinance requires taxpayers in Pakistan to pay advance tax. However, there are certain exceptions to this rule. Let’s explore the circumstances where taxpayers are […]
What is Advance Tax? Advance tax is a type of tax that is paid in advance of the final tax liability. It is required by law for certain businesses and […]
As a taxpayer in Pakistan, it is essential to have a clear understanding of the concept of advance tax and its applicability criteria. This article aims to provide an overview […]
To file an appeal, the taxpayer must file a written notice of appeal with the Commissioner of Income Tax (CIT) within 30 days of the date of the assessment. The […]
Advance tax is a tax that is paid in advance of the final tax liability. It is a common practice in many countries, including Pakistan. The Advance Tax in Pakistan […]
If you are a taxpayer in Pakistan, you may have heard about advance tax. Advance tax is a type of tax that taxpayers pay in advance on a quarterly basis. […]
