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Not for Profit Organizations and their Taxation

This blog is written by Mr. Muhammad Basir Dawer. Please read this blog and provide your valued comments MBD BLOG 8102020 Organizations are classified into two broader categories; For Profit organizations Not for profit organizations (NPO) For profit organizations are profit oriented and their aim is to maximize the profits. The aim of not for [...]

By | October 8th, 2020|Blog|0 Comments

Private Company Registration Process in Pakistan

This blog is written by Mr. Muhammad Wasim Roshan. Please read this blog and provide your valued comments Private Company Registration Process in Pakistan THE INCORPORATION PROCESS   The process of incorporating a company in Pakistan is simple, online (offline application process is also available) and take 2 to 3 working days, depending upon the [...]

By | September 24th, 2020|Blog|0 Comments

FBR Notifications

  ISSUING AUTHORITY:                                 FEDERAL BOARD OF REVENUE POWERS EXERCISED U/S:                         40 & 45A OF FEA, 2005 AND 40C & 50 OF STA, 1990 NOTIFICATION NO:                                      SRO. 831(I)/2020 DATE OF ISSUANCE:                                     SEPTEMBER 09, 2020 EFFECTIVE FROM:                                       WITH IMMEDIATE EFFECT (i.e. SEPTEMBER 09, 2020) AMENDMENTS MADE IN:                          SALES TAX RULES, 2006 LINK OF DOCUMENT      [...]

By | September 23rd, 2020|News|0 Comments

IAS 16 Property Plant and Equipment

IAS 16 Property Plant and Equipment This blog is written by Mr. Omar Rafeh Chughtai. Please read this blog and provide your valued comments This blog describes IAS 16 , this standard was first issued in 1993. It was re-issued in 2003 and applies to annual periods beginning on or after 1st January 2005. The [...]

By | September 23rd, 2020|Blog|0 Comments

FBR Circular

INTRODUCTION Federal Board of Revenue has issued Sales Tax Circular 02 of 2020/IR Operations dated September 21, 2020. Vide this Circular it has issued SOPs to LTOs, RTOs, CTOs and MTO (whichever applicable) for processing of Condonation of Time Limit u/s 74 of Sales Tax Act 1990. Please click below to read the complete Circular [...]

By | September 22nd, 2020|News|0 Comments

INCENTIVE PACKAGE FOR CONSTRUCTION SECTOR

This blog is written by Mr. Muhammad Rizwan Abbas. Please read this blog and provide your valued comments   INCENTIVE PACKAGE FOR CONSTRUCTION SECTOR   Incentive Package announced by Government of Pakistan for Construction Sector is a ray of hope. Lot of hard work, out of box thinking and persistence by government machinery to continue [...]

By | September 21st, 2020|Blog|0 Comments

Impact of Covid-19 on the Financial Statements and Entity Operation Performance

This blog is written by Mr. Ijaz Ahmed. Please read this blog and provide your valued comments   Impact of COVID-19 on the Financial Statements & Entity Operation Performance   No one imagines the enormousness of COVID-19 impact on personal, professional and business lives but nowadays we are facing bankruptcy, downsizing, shutting down and salaries [...]

By | September 17th, 2020|Blog|0 Comments

Explanation about Advance Tax U/S 147 of ITO, 2001

This blog is written by Mr. Muhammad Nabeel Ahmed. Please read this blog and provide your valued comments Definition of Advance Tax: “Advance tax is nearly a provisional payment of an amount towards due tax. Therefore, it is a supplementary tax collection system, which is finally adjust it in the tax payable of the taxpayer.” [...]

By | September 15th, 2020|Blog|0 Comments

ORDINARY SHARES WITH DIFFERENT CLASSES AND RIGHTS

This blog is written by Mr. Nauman Ul Qadeer. Please read this blog and provide your valued comments   ORDINARY SHARES WITH DIFFERENT CLASSES AND RIGHTS   Every Company having share capital can issue shares with different classes and rights, provided that Classes and Rights are defined in Memorandum and Articles of Association of the [...]

By | September 11th, 2020|Blog|0 Comments

The Islamabad Capital Territory Trust Act, 2020

The Islamabad Capital Territory Trust Act, 2020 The Islamabad Capital Territory Trust Act, 2020_compressed

By | September 10th, 2020|News|0 Comments