Best Lawyers & Attorneys Karachi Pakistan

Tag: Income Tax Ordinance

  • Section 7E Income Tax Ordinance 2001

    Tax on deemed income from immovable property under Section 7E of the Income Tax Ordinance 2001. A new section 7E has been introduced through Finance Act, 2022 whereby for tax year 2022 and onwards, a resident person is treated to have derived income equal to five percent of fair market value of the capital assets…

  • Property Valuation FBR State Bank of Pakistan

    The Finance Bill 2016 an amendment to Section 68 of Income Tax Ordinance, 2001 had been proposed under which commissioner Inland Revenue had been empowered to reject the collector value of provincial government and appoint valuation committee to ascertain fair market value to determine the income tax. The amendment seeks to determine fair market value…