201312.29
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Immunity from Audit for the Tax Year 2013

Federal Government has issued SRO 1040(I)/2013 dated 05.03.2013 wherein a new clause (83)has been added in Part IV of Second Schedule of the Income Tax Ordinance, 2001. All taxpayers have been granted immunity from provision of audit for the tax year 2013 subject to the condition that they pay atleast 25% excess tax on their…

201312.29
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Amendments in Income Tax Rules,2002 vide S.R.O.1035(I)/2013 dated 05.12.2013

NOTIFICATION (Income Tax) SRO. 1035(I)/2013 Newly inserted section 165A by the Finance Act, 2013 makes it mandatory for the bank to furnish the following information:- (a)    a list containing information regarding deposits amounting to one million rupees or more during the preceding month; (b)   information regarding payments made in respect of credit card exceeding or…

201312.12
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IMMUNITY FROM TAX AUDIT – CIRCUALR No. 15 of 2013 – INCOME TAX

The Federal Board of Revenue has issued Circular No.15 of 2013 (Income Tax) dated 10-12-2013 for the purposes of Provision to clause (84) of SRO. 1040/2013 dated 05-12-2013 and to specify the Performa to claim exemption/immunity from audit u/s 177 and 214C of the Income Tax Ordinance, 2001. Part I of the Circular specifies the following:-…