Dear Valued Client, FBR has issued circular No. ½-STB/2019 dated July 22, 2019 whereby amendments made in section 23 of the Sales Tax Act, 1990 regarding provision of CNIC has been clarified. The Circular clarifies that requirement for provision of CNIC is only applicable if purchases are made from a Sales Tax Registered Person. Provision [...]
Detailed Commetnary Securities and Exchange Commission of Pakistan (Search and Seizure) Rules, 2019 Search and Seizure Rules 2019
This blog is written by Mr. Waheed Ahmed, Associate Audit Services. THE WORK OF AN AUDITOR’S EXPERT: ISA 620 Introduction The objective of ISA 620 is to allow the auditor to: decide whether to use the work of an expert, and assess whether that work is adequate. Assessing the need for an expert There is a [...]
In continuation of our regular practice, we are pleased to present and publish our Newsletter for the month of JUNE 2019. Please click on link mentioned below to access and study the Khilji & Co, Chartered Accountants Newsletter (JUNE 2019) KCO Newsletter June 2019 This Newsletter envisages following aspects: COMMENTARY [...]
Khilji & Co Chartered Accountants is pleased to present this briefing, which is primarily aimed to help in understanding the impact of the Finance Act 2019. Please click on link mentioned below to access and study the Commentary KCO Tax Brief Finance Act 2019 We humbly request our valued clients and readers to please provide [...]
KCO Rate Card 2019-20 VIIVIIXIX WS
Introduction SECP issued SRO ref: 716(I)/2019 on July 2, 2019. Commentary SECP vide S.R.O No 716 (I)/2019.- has revised fees of various activities related to the Commission. This revision is applicable with immediate effect and is promulgated by Securities and Exchange Policy Board. This change shall take effect from 1st [...]
Introduction Federal Board of Revenue issued Circular 8 of 2019 ref C1(121)R&S/2017 on July 5, 2019. Commentary FBR vide Circular 8 has informed has till the time the Recently proposed table of valuation of property are finalized, the rates issued by FBR on Feb 1, 2019 will remain be applicable to carry [...]
This blog is written by Mr. Basir Dawer, Associate Taxation Services. Please read this blog and provide your valued comments. Filing an Appeal with Commissioner Inland Revenue (Appeals) Any person dissatisfied or being aggrieved with any order passed or notice issued by a Commissioner Inland Revenue or Deputy Commissioner or Assistant Commissioner may file an appeal before [...]
This blog is written by Mr. Sohail Arif, Senior Associate, Audit and Assurance services.Please read this blog and provide your valued comments. Accounting and Reporting by Retirement Benefit Plans (IAS – 26 summary) Scope Financial statements of retirement benefit plans (where such financial statements are prepared). Definition Retirement benefit plans: an arrangement by which an entity [...]
