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All blogs are written independently by each writer .Under no circumstances khilji & co bears responsibility or necessarily agrees with the views of any authors. These blogs also do not constitute provision of legal advice or professional opinion for and on behalf of khilji & co.

ACCOUNTING IMPLICATIONS OF THE IMPACTS OF COVID – 19

This blog is written by Mr. Daniyal Naeem. Please read this blog and provide your valued comments   ACCOUNTING IMPLICATIONS OF THE IMPACTS OF COVID – 19   Context The World Health Organization proclaimed Corona Virus (COVID-19) to be a general wellbeing crisis on January 30, 2020. As at March 31, 2020, nearly the entire [...]

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

Business Valuation

This blog is written by Mr. Haseeb Ahmad. Please read this blog and provide your valued comments HA BLOG 11112020 Introduction to business valuation   The term valuation implies the task of estimating the value/worth of a security an asset or a business. The price that an investor is willing to pay would be related [...]

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

AN INSIGHT TO IFRS 16(LEASES)

This blog is written by Mr. Sulaiman Khan. Please read this blog and provide your valued comments IFRS 16 Leases brings significant changes in accounting requirements for lease accounting, primarily for lessees. IFRS 16 replaces the existing suite of standard (IAS 17) and interpretations on leases  Lessors The guidance relating to lessors remains substantially unchanged [...]

By | November 10th, 2020|Blog|0 Comments

DEFAULT SURCHARGE

This blog is written by Mr. Waqas Haider Gondal. Please read this blog and provide your valued comments Default surcharge is a civil penalty to encourage businesses to submit their VAT Returns and pay the tax due on time.   Value-Added Tax (VAT)   A value-added tax (VAT) is a consumption tax placed on a product [...]

By | November 9th, 2020|Blog|0 Comments

WITHHOLDING ON SALES TAX

This blog is written by Mr. Daniyal Naeem. Please read this blog and provide your valued comments Sales Tax defined under Sales Tax Act, 1990 as: (a) the tax, additional tax, or default surcharge levied, (b) a fine, penalty or fee imposed or charged, and (c) any other sum payable under the provisions of this [...]

By | November 6th, 2020|Blog|0 Comments

Should accountants be replaced? OR should they embrace Technology?

This blog is written by Mr. Muhammad Tariq Khan. Please read this blog and provide your valued comments SHOULD ACCOUNTANTS BE REPLACED? OR SHOULD THEY EMBRACE TECHNOLOGY?  Outline Blockchain technology Money explained in context of Digital Currency Triple Entry Accounting Implications of Blockchain, Digital Currency, Triple Entry Accounting and Artificial Intelligence on Accounting, Audit and [...]

By | November 5th, 2020|Blog|0 Comments

TAX REGIMES IN INCOME TAX ORDINANCE, 2001

This blog is written by Mr. Haseeb Zaman. Please read this blog and provide your valued comments In Pakistan, as in many jurisdictions, a tax can be levied only by, or under, the authority of an Act of Parliament. While taxation of income (other than agricultural income) is governed by the Income Tax Ordinance, 2001 [...]

By | November 4th, 2020|Blog|0 Comments

ANTI-MONEY LAUNDERING SYSTEMS AND CONTROLS

This blog is written by Mr. Muneeb Sultan. Please read this blog and provide your valued comments Indications of potentially suspicious transactions might include: A number of deposits and/or withdrawals just below the monitoring threshold in short succession (often on the same day) An excessive use of wire transfers Transactions with large currency or bearer [...]

By | November 3rd, 2020|Blog|0 Comments

INTERNATIONAL ACCOUNTING STANDARD; IAS-38 (INTANGIBLE ASSETS)

This blog is written by Mr. Muhammad Mubeen Liaqat. Please read this blog and provide your valued comments INTERNATIONAL ACCOUNTING STANDARD; IAS-38 (INTANGIBLE ASSETS) Overview: IAS 38 Intangible assets briefly describe the accounting requirements for intangible assets, that are non- monetary assets, that are without physical substance and separately identifiable (either being separable or arising [...]

By | October 29th, 2020|Blog|0 Comments

PROFESSIONAL TAX

This blog is written by Mr. Habib Ullah Khan. Please read this blog and provide your valued comments  HUK BLOG 28102020 PROFESSIONAL TAX   Professional Tax is implemented under the Finance Act 1977. It is a tax levied and collected with respect to earning or income from any profession, trade, calling or employment for each financial [...]

By | October 28th, 2020|Blog|0 Comments