Introduction Federal Board of Revenue issued Notifications ref: 250(1)/2019 dated dated Feb 26, 2019. Commentary Sales tax & Federal Excise: The Chapter XIV-B have been substituted vide above mentioned SRO. The chapter titles “Electronic Monitoring and Tracking of Specified Goods and Licensing Thereafter”. The Rules sub-chapter-1 applies on “Tobacco products, Beverages, [...]
INTRODUCTION Securities and Exchange Commission of Pakistan (SECP) vide Circular # 3 of 2019 dated February 25, 2019, notified relaxation from requirement of Regulation # 7 of the Listed Companies (Code of Corporate Governance) Regulations, 2017 (afterwards referred as “Regulations”). Regulation # 7 required that, the Board of Directors (BOD) shall have at least one [...]
This blog is written by Mr. Ijaz Ahmed Tajjak, Assistant Manager Audit and Assurance. Please read this blog and provide your valued comments. Audit Techniques Evidences are very important for an Auditor to form an opinion regarding financial statements. If Auditor fails to collect proper evidence, it will reduce the reliability of audit report. [...]
Introduction Securities and Exchange Commission of Pakistan has issued S.R.O. 214 (I)/2019 dated February 08, 2019. Commentary SECP vide S.R.O. 214 (I)/2019 delegated powers and functions under the Modaraba Companies and Modaraba (Floatation & Control) Ordinance, 1980 and the Modaraba Companies and Modaraba Rules, 1981 from the Registrar Modaraba to Joint Director [...]
This blog is written by Mr. M. Shafaat Ali, Assistant Manager Taxation Advisory Services. Please read this blog and provide your valued comments. Debit & Credit Note under Section 9 of the STA, 1990 Definition Where a registered person has issued a tax invoice in respect of a supply made by him and as a result of [...]
This Blog is written by Mr. Abbas Shahid, Associate Taxation Services. Please read this blog and provide your valued comments. PROVIDENT FUND Provident fund is a very common retirement plan to benefit the employees, which is contributory in nature and yields a feeling of participation in employees. The establishment settles the provident fund in form of [...]
This blog is written by Mr. Ikram Ul Haq, Manager Taxation Advisory Services. Please read this pertinent blog and provide your valued comments. INCOME FROM PROPERTY The rent received or receivable by a person for a tax year, other than rent exempt from tax under this Ordinance, shall be chargeable to tax in that year under the [...]
This blog is written by Mr. M. Kaleem Majeed, Manager Taxation Advisory Services. Please read this blog and provide your valued comments. COMMON TYPE OF NOTICES SENT BY FBR (PHASE-I) “If you think compliance is expensive, try non-compliance as new taxes are still on the anvil” NOTICE TO SUBMIT RETURN OF INCOME FOR ANY OF [...]
In continuation of our regular practice, we are pleased to present and publish our Newsletter for the month of JANUARY 2018. Please click on link mentioned below to access and study the Khilji & Co, Chartered Accountants Newsletter (JANUARY 2018) KCO Newsletter January 2019 This Newsletter envisages following aspects: Commentary on Lahore High Court [...]
Introduction Federal Board of Revenue Revenue issued Circular ref: Circular 1/2019. dated February 1, 2019. Commentary Through the aforementioned Circular FBR has extended the date of filing of revised return as specified in Clause iii of Section 214 E upto February 28, 2019 Link of Document(s) Please click below to view the original Circular 201921172396952CircularIncomeTax
