CLARIFICATION ON INVESTMENT IN UNITS OF EXCHANGE TRADED FUNDS OUT OF PROVIDENT FUND OR ANY OTHER EETF OUT OF PROVIDENT OR OTHER EMPLOYEE CONTRIBUTORY RETIREMENT FUND SECP vide Circular No. SCD/Circular/17/2021 dated June 11, 2021 has clarified that a Company can invest out of provident fund or any other employee contributory retirement fund in [...]
FBR issued Notification ref: 730(1)12021 on June 11, 2021. Vide this SRO, FBR issued draft Income Tax Return Forms for Salaried Persons, AOPs, Business Individual and Companies for Tax Year 2021. For objection or suggestions thereon, if any, may for consideration of the Federal Board of Revenue be sent within seven days of [...]
Notes-on-Clauses-Final Finance-Bill-Final (1) CamScanner 06-11-2021 16.25 (1)
Dear Valued Client, In continuation of our regular practice, we are pleased to present and publish our Newsletter for the months of APRIL & MAY 2021. Please click on link mentioned below to access and study the KHILJI & CO, CHARTERED ACCOUNTANTS NEWSLETTER KCO Newsletter April and May 2021 This Newsletter [...]
FBR Issued Notification ref: S.R.0.12-C (1)/2021 on June 8, 2021. Vide this notification, FBR has exempted sales tax in excess of five percent chargeable on supplies made by restaurants and eateries on account of takeaway subject to the conditions that no input tax shall be adjusted. This Notification shall remain in force [...]
Sindh Revenue Board (SRB) initiated a “one-time” incentive scheme for defaulters of provincial sales tax on services. The SRB has notified a tax incentive scheme under which exemptions have been provided from payment of penalties and default surcharge to the taxpayers and defaulters, provided they deposit the principal amount of arrears of the Sindh [...]
Dear Valued Client, Federal Board of Revenue issued SROs 552, 589 and 590, wherein the board has issued exemptions of Sales Tax and Income Tax and custom duties on the import of following items for medical purposes only Oxygen gas Cylinders (for oxygen gas) Cryogenic tanks (for oxygen gas) and Oxygen Concentrators/Generators/ Manufacturing [...]
Please click on the link appended hereunder, wherein a General Order is available, which has been issued by FBR to prescribe Standard Operating Procedures (SOPs) for AJK/Gilgit Baltistan Sales Tax Registered Persons for their enrollment with FBR system to enable them avail the benefit of input adjustments. LINK OF DOCUMENT 2021524165380551SalesTaxgeneralOrder6 Please contact [...]
Please click on the lick below to read the latest FBR initiative wherein the board has launched the software of electronic hearing of tax audit and assessment cases to facilitate the taxpayers. This has been done by enabling and functionalizing the e-Hearings module in the Iris. The module enables online hearing both form the [...]
Dear Valued Client, Sindh Revenue Board has issued information, wherein due Date of payment of Sindh Sales Tax and Filing of Sales Tax Returns / withholding statements for All registered persons including withholding agents IN RESPECT OF tax period April 2021 has been extended as per following: Due Date of e-payment of Sindh Tax: [...]
