What is Income from Other Sources?
A Guide for Pakistani Taxpayers Navigating the intricacies of income tax in Pakistan can be a daunting task, especially when it comes to the broad and diverse category of “Income […]
Non-Resident Property Sellers Exempt from 7E
This article aims to clarify the recent regulations concerning non-resident individuals selling or transferring immovable property in Pakistan. Key Points: Provisions of section 7E of the Income Tax Ordinance, 2001 […]
Participatory Reserve Deductions in Pakistan
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 […]
Mastering the Art of Stock-in-Trade Cost Calculations
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 […]
Employee Training and Facilities Deductions in Pakistan
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 […]
Tax Benefits of Being Filer when Buying Property
Purchasing property in Pakistan involves various legal and financial considerations, including advance tax on the transaction. This article delves into Section 236K of the Income Tax Ordinance (ITO) 2001, explaining […]
How to Declare Long-Term Contracts?
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 […]
Demystifying Tax Credits for Charitable Donations in Pakistan
In Pakistan, the government incentivizes charitable giving by offering tax credits to individuals and companies who donate to approved organizations. This article explains how to calculate your tax credit and […]
What Businesses Qualify as Start-ups?
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 […]
Pakistan Income Tax Rates: Dividends, Interest, Royalties
The world of income tax can feel like a complex labyrinth, especially when dealing with diverse income sources like dividends, interest, royalties, and fees. In Pakistan, understanding the various rates […]