Demystifying the FBR Audit Process
Demystifying Audits: A Deep Dive into Section 214 of the Income Tax Ordinance, 2001 In the realm of Pakistani taxation, audits can raise concerns and uncertainties. However, understanding the underlying […]
What is Royalty Income?
Unveiling the Mysteries of “Royalty” in Pakistan: A Comprehensive Guide In the intricate world of intellectual property and business transactions, royalties play a crucial role. In Pakistan, the definition outlined […]
How Taxation Can Improve Pakistan?
Taxation is a necessary part of any modern society. It is the primary way that governments raise revenue to fund essential services such as education, healthcare, and infrastructure. In Pakistan, […]
Active Taxpayers Get Sweet Deals on New Cars Taxes
The Federal Board of Revenue (FBR) has shaken up the car market with significantly lower tax rates for individuals listed on the Active Taxpayers List (ATL) compared to those who […]
What is IRIS?
IRIS stands for Integrated Revenue Information System. It is the FBR’s online tax filing system. IRIS was launched in 2006 and has been used by millions of taxpayers to file […]
The Powers of Federal Board of Revenue
The Federal Board of Revenue (FBR) is the central revenue collection agency of Pakistan. It is responsible for administering the country’s tax laws, collecting taxes from individuals and businesses, and […]
The Top 10 Tax Planning Tools for Small Businesses in Pakistan
As a small business owner in Pakistan, tax planning can be a challenging task. You may have limited resources and time to devote to understanding tax laws and regulations, which […]
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 […]