OLy.com.pk Section 181A – Active Tax Payer’s List The Board shall have the power to institute Active Tax Payers’ list. Active Tax Payers’ list shall be regulated as may be prescribed Illustration: ATL stands for Active Payer List, in this list name of all those NTN’s who have submitted tax return. A person who file Income … Read more
Section 181C – Displaying of NTN (National Tax Number) Every Person deriving Income from business chargeable to tax, who has been issued NTN, shall display his NTN at a Conspicuous(Clearly Visible) place at every place of his Business. Illustration: Every Company & Business who have National Tax Number should display NTN certificate at prominent place of … Read more
Every individual can do below mentioned changes in NTN issued by FBR. There are few changes which can be done online and you don’t required to visit your concerned tax office. A person can change their registration information recorded for filing Income Tax Return in three (3) possible ways. Changing information through Iris, a person … Read more
WithHolding Agents are those who collect tax on behalf of FBR and deposit in Government Accounts. Every incorporated Company is WHT Agent in Pakistan. While in case of AOP And sole Proprietor whose turnover is more than 50 Million fall in WHT Agent list. Section 153(9) of Income Tax Ordinance In this section, – “prescribed … Read more
A new addition in form of business registration legally in Pakistan is Limited Liability Partnership. The word limited doesn’t mean to be limited scope. It actually limited your legal compliance. Every business man desire to do business with limited liability as it mitigate the risk factor and less legal compliance that save time and energy. … Read more
Capital Development Authority (CDA) Board has approved Rs. 37.9 billion Budget of the CDA for the Financial Year 2017-18 in its meeting held here at CDA Headquarters on Friday. The Budgetmeeting was chaired by Mayor of Islamabad and Chairman CDA, Sheikh Anser Aziz. The meeting was attended by Member Finance Dr. Fahad Haroon Aziz, Member Administration Muhammad Yasir Peerzada, Member Planning … Read more
Today’s dilemma is that our mentor/teachers gave us examples of The Henry Ford, Albert Einstein, Warren Buffett etc. While in practical life, we have to face Mr. Cheema, Chaudhry Shab, Basheer Chachu and etc. Our professional life is completely 100% opposite to what we learned in our universities/Colleges. The major reason i observed about the … Read more
Pakistan is 26th largest economy in the world with a population of 200 Millions. In recent years, thousands of students graduated from the universities of Pakistan and many started their own startups across the country. Some start-ups are also monitor by incubators and it will be very good practice to hire some mentors who give … Read more
Almost all salaried individuals have ntn and their tax is automatically deducted from salary from employers end. Therefore, Salaried individuals must submit annual tax return and save themselves from tax penalties. There are three major benefit of annual tax filling. Saving in Bank Transactions Buying/Selling Properties Buying/Selling Vehicles We assist you in this regard with … Read more
FTN Name Province 9010000-0 FEDERAL GOVERNMENT Federal 9010100-6 CABINET DIVISION Federal 9010102-2 DEPARTMENT OF COMMUNICATION SECURITY Federal 9010103-7 FEDERAL LAND COMMISSION Federal 9010105-7 INTELLIGENCE BUREAU Federal 9010106-5 NATIONAL ACCOUNTABILITY BUREAU Federal 9010107-3 NATIONAL ARCHIVES OF PAKISTAN Federal 9010108-1 NATIONAL COMMISSION FOR HUMAN DEVELOPMENT Federal 9010109-0 NATIONAL DOCUMENT CENTER Federal 9010110-3 NATIONAL ELECTRIC POWER REGULATORY … Read more
Business Registration in Pakistan Before starting any business required registration and mostly newbies lost their energy and passion during this hectic process. For this reason, OLY Consultant came into the market with a new concept of Corporate Business Shop. CBS is a concept to assist business community in establishing their own business across Pakistan. There … Read more
THE PARTNERSHIP ACT, 1932 1ACT No. IX OF 1932 [8th April, 1932] An Act to define and amend the law relating to partnership WHEREAS it is expedient to define and amend the law relating to partnership ; It is hereby enacted as follows :‑ CHAPTER I PRELIMINARY Short title, extent and commencement.__(1) This Act may … Read more