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The period from July 1 to June 30 is considered as a normal tax year for Pakistan tax law purposes. Corporate Income tax rates Currently, the Corporate Income tax rate is 29% for tax year 2019 and onwards whereas the corporate tax rate is 35% for Banking Industry for TY 2019. Income Tax on Export of Services, in Pakistan is 1%. However, export ...
The Inland Revenue Service (IRS) is a department of the Federal Board of Revenue (FBR) in Pakistan. It was established in 2009 and holds the responsibility for overseeing various aspects of domestic taxation, encompassing Sales Tax, Income Tax, and Federal Excise Duty. [1] [2]
A Schedule E is the tax form that you will need to submit with your 1040 tax return if you are reporting income or losses from a rental property. Learn More: 7 Tax Loopholes the Rich Use To Pay ...
Divorce in Pakistan is regulated by the Dissolution of Muslim Marriage Act (1939, amended in 1961) and the Family Courts Act (1964). The Child Marriage Restraint Act or CMRA (1929) set the marrying age for women at 16; in the province of Sindh, as per the Sindh Child Marriage Restraint Act, it is 18.
The three forms of property income are rent, received from the ownership of natural resources; interest, received by virtue of owning financial assets; and profit, received from the ownership of capital equipment. [1] As such, property income is a subset of unearned income and is often classified as passive income.
It is the first Hindu Marriage Act in Pakistan. It is applicable for Hindus living in the Sindh province. The Sikhs and Zorastrians can also register their marriage under this act. [2] [1] The Hindu Marriage Bill 2016 was moved by Sindh Parliamentary Affairs Minister Nisar Ahmed Khuhro. [3] In February 2016, the Provincial Assembly of Sindh ...
Child marriage in Pakistan is legally prohibited to an extent under the Child Marriage Restraint Act 1929 (No XIX). Under the Act, the minimum age for marriage was 18 years for a male and 16 years for a female (section 2). [16] However, under a new bill passed in Pakistani Senate, the minimum age of marriage for female was increased to 18. [17]
The couple were sentenced to seven years in February when a court found them guilty of breaking Islamic law by failing to observe the required interval between the divorce from a previous marriage ...