Final Tax Definition The final tax regime (FTR) is a method of taxation where the taxpayer considers the tax deducted as a full and final discharge of their tax liability. Income from the final tax regime is not subject to any deductions, allowances, tax credits, or adjustments for losses. Final Tax Regime Part I Final …
Final Tax Regime (FTR) Definition The final tax regime (FTR) is the method of taxation where tax deducted is considered as a full and final discharge of the tax liability. Income from the final tax regime is not reduced by any deductions or allowances nor any tax credit is given or losses are adjusted. The …
Introduction: Tax under section 7 E and Division VIII C Part I of 1st Schedule @ 20% shall be imposed on the 5% Fair Market Value of the CAPITAL ASSET. It is considered as Deemed Income on immovable property. This income is deemed to have been earned on that CAPITAL ASSET by a …
7E Capital Gain – Deemed Income on Immovable Property Read More »
Introduction Rent chargeable on an accrual basis is taxable under the head [mkd_highlight background_color=”” color=”green” padding=”” line_height=”” font_size=”17″]income from property[/mkd_highlight]. Rent means the sum of money either received or receivable by the owner of any land or building for the use or occupation. (Section 15-16). Chargeable rent consists of the following; Higher of actual rent …
Income from Property – Income Tax Ordinance 2001 Read More »
Summary of Prudential Regulation Consumer Financing We have compiled summary of prudential regulation for consumer financing. Consumer financing has three main categories which are defined below; School Supplies Categories of Consumer Financing: Credit Cards Cards which allow a customer to make payments on credit. These cards include supplementary cards. Corporate cards are not included in …
Compliance for Stock Exchange Broker 1/2 Compliance for Stock Exchange Broker Continued Part of Regulatory Compliance applicable for Stock Exchange Broker as follows. Compliance on Leveraged Trading The Broker must ensure that no transaction is executed in the leveraged market unless an appropriate agreement has been executed and; The Broker has; Fully disclosed …
Cross Exchange Rate Cross Exchange Rate is an exchange rate between two foreign currencies which is computed with the reference of third currency normally in terms of US $. The base currency US$ always has value of 1$. If for example, we know the exchange rate between Rupees (Rs.) and Pound Sterling (£) and …
Prudential Regulations Consumer We have compiled a summary of prudential regulations for consumer financing in this 2nd part. Additionally, separate regulations for credit cards, auto loans, and personal loans are as follows: Prudential Regulations Consumer – Credit Card Prudential Regulation Consumer O-1 The banks should take reasonable steps to satisfy themselves that cardholders have received …
Events after Reporting Period Events that occurs after the end of reporting period but before the authorization of financial statements are called events after reporting period. These events may or may not in in the favor of an entity. Type of Events There are two types of events: 1) Adjusting events after reporting …
