Difference b/w Tangible and Intangible Assets
The Income Tax Ordinance, 2001 (ITO) plays a crucial role in determining how businesses in Pakistan are taxed. A critical aspect of this involves understanding the classification of assets – […]
Telecommunication Systems in Pakistan’s Tax Landscape
Telecommunication System under the ITO 2001 The digital age is transforming every facet of our lives, and the realm of taxation is no exception. In Pakistan, the Income Tax Ordinance […]
No Secret Bank Accounts
A Guide to Section 114A Explains Business Bank Transparency For Pakistani taxpayers, navigating the intricacies of income tax regulations can be a daunting task. But fear not! Section 114A of […]
Depreciation and Amortization – Deductible Expenses
In the intricate world of Pakistani taxes, understanding depreciation and amortization is crucial for accurate reporting and optimizing your tax bill. This guide simplifies these concepts and outlines the key […]
Turn Bad Debts into Tax Advantages
Finding a Silver Lining in Bad Debts: Navigating Tax Relief through Section 29 of the Income Tax Ordinance, 2001 Unpaid invoices and uncollectible debts can cast a shadow over any […]
Demystifying Tax Accounting: Income Recognition and Expenses
Tax accounting plays a crucial role in determining taxable income for businesses. It goes beyond simple bookkeeping, focusing on the timing of how income and expenses are recognized, impacting a […]
Essential Guide to Non-Deductible Expenses for Businesses
A Guide to Non-Deductible Expenses Under Section 21 of the Income Tax Ordinance While Section 20 of the Income Tax Ordinance offers businesses the opportunity to reduce their taxable income […]
Deductions Allowed from a Business Under Section 20 in Pakistan
Running a business in Pakistan involves navigating various expenses and tax implications. Section 20 of the Income Tax Ordinance, 2001 offers valuable deductions to lessen your tax burden and encourage […]
Registering Your Company for Sales Tax in Sindh
Operating a company in Sindh, Pakistan, requires compliance with various regulations, including Sales Tax registration with the Sindh Revenue Board (SRB). This article serves as a comprehensive guide for companies […]
Requirements for PRA Sales Tax Invoices
Get It Right to Avoid Penalties! Running a business in Punjab and registered for PRA Sales Tax? Issuing proper tax invoices is crucial for compliance and avoiding penalties. This article, […]