THE FINANCE SUPPLEMENTARY (SECOND AMENDMENT) ACT, 2019 — It shall come into force at once unless otherwise provided in any of the provisions of this Act. By Muhammad Imtiaz|2019-05-22T03:53:44+00:00January 25th, 2019|Federal|0 Comments 336 views View Larger Image Download THE FINANCE SUPPLEMENTARY (SECOND AMENDMENT) ACT, 2019 — It shall come into force at once unless otherwise provided in any of the provisions of this Act. FINANCE SUPPLEMENTARY (SECOND AMENDMENT) ACT, 2019 1 file(s) 755.90 KB Download SALIENT FEATURES 1 file(s) 141.78 KB Download NOTES ON CLAUSES --- FINANCE SUPPLEMENTARY (SECOND AMENDMENT) BILL, 2019 1 file(s) 132.14 KB Download Share This Story, Choose Your Platform! FacebookTwitterLinkedInRedditTumblrPinterestVkEmail About the Author: Muhammad Imtiaz Related Posts FINANCE ACT, 2019 – EXPLANATION OF IMPORTANT AMENDMENTS MADE IN THE INCOME TAX ORDINANCE, 2001 — Finance Act, 2019 has brought about certain amendments in the Income Tax Ordinance, 2001. The term “offshore asset” has been defined by inserting a new clause (38AA) in Section 2 which includes any movable or immovable asset held, any gain, profit or income derived, or any expenditure incurred outside Pakistan. Every person, other than a company, receiving profit on debt from persons are separately taxed. Income from Property derived by an individual or an association of person is separately taxed on the gross amount of rent. The holding period for taxation of capital gain of open plots has been increased to eight years and for constructed properties, it has been increased to four years. Where the holding period does not exceed one year, the total amount of gain will be taxed. August 19th, 2019 | 0 Comments THE REVISED LEAVE RULES, 1980 (GOVERNMENT OF PAKISTAN, MINISTRY OF FINANCE) — They shall apply to all civil servants other than those who were employed before the first day of July, 1978, and opted not to be governed by the Revision of Leave Rules issued under the Finance Division’s Office Memorandum No. F.1(2)-Rev.I/78, dated the 21st September, 1978. They shall come into force at once. All service rendered by a Civil servant qualifies him to earn leave in accordance with these rules but shall not be earned during the period of leave. Any period spent by a civil servant in Foreign Service qualifies him to earn leave provided that contribution towards leave salary is paid to the Government on account of such period. There shall be no maximum limit on the accumulation of such leave. August 7th, 2019 | 0 Comments WITHHOLDING INCOME TAX REGIME (WHT RATES CARD) — GUIDELINES FOR THE TAXPAYERS, TAX COLLECTORS & WITHHOLDING TAX AGENTS – AS PER FINANCE ACT, 2019 (UPDATED UP TO JUNE 30, 2019) July 19th, 2019 | 2 Comments SALIENT FEATURES — CUSTOMS – BUDGET FY 2019-20 – RELIEF MEASURES, SALES TAX & FEDERAL EXCISE BUDGETARY MEASURES (FY 2019-20) – RELIEF MEASURES, INCOME TAX – Relief Measures June 12th, 2019 | 1 Comment THE ASSETS DECLARATION ORDINANCE, 2019 — It shall extend to the whole of Pakistan. It shall come into force at once. Assets means all domestic and foreign assets of every kind. The undiscovered assets shall be chargeable to tax and default surcharge at the value mentioned in Section 5 and at the rates specified in the Schedule to this Ordinance. The undiscovered sales and expenditure shall be chargeable to tax and default surcharge at the rates specified in the Schedule to this Ordinance. May 29th, 2019 | 0 Comments Leave A Comment Cancel reply Comment Save my name, email, and website in this browser for the next time I comment.