The Federal Board of Revenue (FBR) has issued a clarification regarding Section 100BA of the Income Tax Ordinance, which pertains to special provisions for individuals not listed on the Active […]
Understanding Taxes on Banking Transactions in Pakistan Taxes are applied to certain banking transactions. This article explains the main types of advance taxes you might encounter via Banking transactions: 1. […]
A Comprehensive Guide to Section 31 of ITO 2001 Understanding the intricacies of tax deductions can be a complex task, especially for businesses navigating specific financial instruments like participatory redeemable […]
Understanding stock-in-trade valuation is crucial for businesses in Pakistan, impacting income tax calculation under the “Income from Business” head. Section 35 of the Income Tax Ordinance, 2001, lays out the […]
Investing in People In today’s competitive landscape, skilled and motivated employees are a cornerstone of organizational success. Pakistan’s Income Tax Ordinance, 2001, recognizes this by offering tax deductions for investments […]
For businesses in Pakistan accounting for income from long-term contracts, Section 36 of the Income Tax Ordinance, 2001, holds significant importance. This section introduces the percentage of completion method, a […]
Navigating the Pakistani Startup Frontier: Unveiling the Definition of a “Startup” In the rapidly evolving world of technology and innovation, startups play a crucial role in driving economic growth and […]
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 […]
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 […]
Double taxation is a situation where a person is taxed on the same income in two different countries. This can happen, for example, if a person lives in one country […]
