Updates on Tax Laws, Economy and Stock Market in Pakistan
Rental income from property i.e land or building is taxable as per the provisions described in sections 15 and 16 at the tax rates for rental income 2022-23 given in the First Schedule of the Income Tax Ordinance 2001. The taxable rental income is calculated after making certain deductions as allowed in the ordinance. … Read more
Income derived as rent from letting out of property i.e. land or building for use or occupation in a tax year is taxable under the head of income “Income from Property”. Tax on property income is described in sections 15 and 16 of the Income Tax Ordinance 2001. Rented property may be land or a … Read more
A monthly overview of the Dollar Rate in Pakistan during September 2022 with reference to the Pakistani Rupee and its graphical representation Since the change in the Government of Pakistan in April 2022, the economy of Pakistan is showing abnormal and unprecedented behavior. Huge variations are being observed in the FE conversion rates with reference … Read more
The last date of tax return 2022 in Pakistan for persons with a normal tax year has been extended by FBR up to the 31st of October 2022. Previously the last date for tax returns was the 30th of September 2022. The extension in the date of the tax return for the tax year 2022 … Read more