Iqbal Yasir & Co CAs Faisalabad

23/06/2026

23/06/2026

Taxes on Non PTA can be paid on installments

15/06/2026

📢 Finance Bill 2026-27

Proposed Tax Relief for Exporters & Overseas Transactions

Highlights
Export Proceeds Tax: 2.0% → 1.25%
IT & ITES Exporters: 0.25% rate extended up to Tax Year 2029
Foreign Remittances through Debit/Credit/Prepaid Cards: 5.0% → 0.5%
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Iqbal Yasir & Co. Chartered Accountants – Faisalabad Office
📞 +92-302-7114450
📧 [email protected]
📍 P-20 Asif Street, Bilal Road, Civil Lines, Faisalabad

13/06/2026

🏘️ Finance Bill 2026-27: Proposed Reduction in Advance Tax on Property Transactions

The Government has proposed a significant reduction in advance tax rates applicable to the sale, transfer, and purchase of immovable property under the Income Tax Ordinance, 2001.

📌 Section 236C – Sale / Transfer of Immovable Property
Current Rate: 4.5% – 5.5%
➡️ Proposed Rate: 2.75% of the gross amount of consideration received.

📌 Section 236K – Purchase of Immovable Property
Current Rate: 1.5% – 2.5%
➡️ Proposed Rate: 1.25% of the fair market value of the immovable property.

The proposed reduction is aimed at:

✅ Reducing the cost of property transactions

✅ Encouraging documentation of the real estate sector

✅ Facilitating genuine buyers and sellers

✅ Promoting investment and growth in the property market

These measures are expected to provide relief to taxpayers while supporting greater transparency and economic activity within the real estate sector.

⚠️ Important: The above changes are proposed in the Finance Bill 2026-27 and shall become effective only after approval by Parliament and enactment into law.

Iqbal Yasir & Co. Chartered Accountants
Faisalabad Office

📞 +92-302-7114450

📧 [email protected]

📍 P-20 Asif Street, Bilal Road, Civil Lines, Faisalabad

11/06/2026

💼 We’re Hiring: Head of Tax Department 💼
Iqbal Yasir & Co. Chartered Accountants is looking for a qualified and experienced professional to fill the position of Head of Tax Department for one of our prestigious clients.

If you have a sharp strategic mind for corporate taxation, compliance, and planning, we want to hear from you!

📋 Role Requirements:
Education: CA Finalist

Experience: 3+ years of relevant tax experience

Core Skills: Strong knowledge of taxation laws, compliance, and tax planning

📍 Job Details:
Location: Faisalabad (FSD)

Role Type: Full-time

🚀 How to Apply:
Ready to take the next step in your career? Send your updated resume today!

📧 Email: [email protected]

📥 Subject Line: Head of Tax Department

💬 WhatsApp: +92-302-7114450

Know a great candidate in the tax field? Tag them in the comments or share this opportunity with your network!

11/06/2026

💼 We’re Hiring: Head of Internal Audit 💼
Iqbal Yasir & Co. Chartered Accountants is seeking a dynamic, analytical, and experienced professional to join one of our valued clients as the Head of Internal Audit.

If you possess a strong eye for compliance, risk assessment, and financial integrity, this is your opportunity to lead and make a tangible impact.

📋 Key Requirements:
Education: CA Qualified / CA Finalist

Experience: 3+ years of relevant Internal Audit experience

Skills: Strong analytical, risk assessment, and compliance management skills preferred

📍 Job Details:
Location: Faisalabad (FSD)

Role Type: Full-time

🚀 How to Apply:
If you meet the criteria and are ready to take on this leadership role, send your updated resume today!

📧 Email: [email protected]

💬 WhatsApp: +92-302-7114450

Know someone who would be a perfect fit? Tag them in the comments or share this post!

11/06/2026

📢 SECP Compliance Reminder – Form 19 (UBO Declaration)

Every company is required to file Form-19 (Ultimate Beneficial Ownership Declaration) under Section 123A of the Companies Act, 2017 read with Regulation 48 of the Companies Regulations, 2024.
✅ Form-19 must be submitted annually along with the Annual Return through SECP's eZfile Portal.
⚠ Non-submission may result in penalties of up to:
• Rs. 1 Million for directors/officers or other responsible persons.
• Rs. 10 Million for the company.
Companies are advised to ensure timely compliance to avoid regulatory penalties.
For guidance regarding SECP filings and corporate compliance:
Iqbal Yasir & Co. Chartered Accountants
📞 +92-302-7114450
📧 [email protected]
📍 P-20 Asif Street, Bilal Road, Civil Lines, Faisalabad

09/06/2026

Important Update – Capital Gain Tax (CGT) & Super Tax (ST) | Tax Year 2026
Taxpayers investing in the capital market should take note of an important development regarding the computation of Capital Gain Tax (CGT) and Super Tax (ST) for Tax Year 2026.
Key points include:
✔ Super Tax will not be computed or collected on Net Capital Gain where no CGT is payable due to the applicable holding period.
✔ CGT and ST obligations will be treated separately for the current tax year.
✔ Any excess CGT collected will be refunded independently and will not be adjusted against ST liabilities.
✔ These adjustments will be considered while finalizing the tax computation for Tax Year 2026.
Investors, companies, and tax professionals should review the implications of these changes to ensure accurate tax planning and compliance.
Iqbal Yasir & Co. Chartered Accountants
📍 P-20 Asif Street, Bilal Road, Civil Lines, Faisalabad
📞 +92-302-7114450
✉ [email protected]

08/06/2026

📌 𝗞𝗻𝗼𝘄𝗹𝗲𝗱𝗴𝗲 𝗦𝗵𝗮𝗿𝗶𝗻𝗴 | 𝗦𝗖𝗣 𝗼𝗻 𝗗𝗚𝗥𝗥𝗔 𝗔𝘂𝗱𝗶𝘁 𝗢𝗯𝘀𝗲𝗿𝘃𝗮𝘁𝗶𝗼𝗻𝘀 & 𝗦𝗮𝗹𝗲𝘀 𝗧𝗮𝘅 𝗣𝗿𝗼𝗰𝗲𝗲𝗱𝗶𝗻𝗴𝘀
The 𝗦𝘂𝗽𝗿𝗲𝗺𝗲 𝗖𝗼𝘂𝗿𝘁 𝗼𝗳 𝗣𝗮𝗸𝗶𝘀𝘁𝗮𝗻 has held that audit observations made by the 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿 𝗚𝗲𝗻𝗲𝗿𝗮𝗹 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗥𝗲𝗰𝗲𝗶𝗽𝘁𝘀 𝗔𝘂𝗱𝗶𝘁 (𝗗𝗚𝗥𝗥𝗔) cannot form the basis of sales tax proceedings against private-sector taxpayers.

⚖️ 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:
* DGRRA has no jurisdiction to audit private taxpayers under the Sales Tax Act, 1990.
* Tax authorities must conduct an independent audit before initiating proceedings.
* The Auditor General's powers and Inland Revenue's audit powers operate in separate legal spheres.
* What cannot be done directly cannot be done indirectly.

✅ 𝗢𝘂𝘁𝗰𝗼𝗺𝗲:
* Leave to appeal was refused.
* The taxpayer succeeded before all forums, including the Supreme Court.
* Demand raised on the basis of DGRRA audit observations was not sustained.
A significant ruling reinforcing statutory limits on audit powers and protecting taxpayers from proceedings initiated without lawful authority.

𝗜𝗾𝗯𝗮𝗹 𝗬𝗮𝘀𝗶𝗿 & 𝗖𝗼. 𝗖𝗵𝗮𝗿𝘁𝗲𝗿𝗲𝗱 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀 – 𝗙𝗮𝗶𝘀𝗮𝗹𝗮𝗯𝗮𝗱
📧 [email protected]
📞 +92-302-7114450

08/06/2026

📌 𝗞𝗻𝗼𝘄𝗹𝗲𝗱𝗴𝗲 𝗦𝗵𝗮𝗿𝗶𝗻𝗴 | 𝗔𝗧𝗜𝗥 𝗼𝗻 𝗙𝗼𝗿𝗲𝗶𝗴𝗻 𝗥𝗲𝗺𝗶𝘁𝘁𝗮𝗻𝗰𝗲𝘀
The 𝗔𝗽𝗽𝗲𝗹𝗹𝗮𝘁𝗲 𝗧𝗿𝗶𝗯𝘂𝗻𝗮𝗹 𝗜𝗻𝗹𝗮𝗻𝗱 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 (𝗔𝗧𝗜𝗥) held that foreign remittances supported by proper banking records and documentary evidence cannot be treated as unexplained income under Section 111 of the Income Tax Ordinance, 2001.

⚖️ 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:
* Remittances of Rs. 72.9 million were challenged by tax authorities.
* The taxpayer established the genuineness of the remittances through banking channels.
* The taxpayer was a non-resident during the relevant tax year.

✅ 𝗢𝘂𝘁𝗰𝗼𝗺𝗲:
* ATIR allowed the appeal.
* The additions under Section 111 were deleted.

A significant ruling emphasizing the importance of documentary evidence and tax residency status in tax assessments.

𝗜𝗾𝗯𝗮𝗹 𝗬𝗮𝘀𝗶𝗿 & 𝗖𝗼. 𝗖𝗵𝗮𝗿𝘁𝗲𝗿𝗲𝗱 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀 – 𝗙𝗮𝗶𝘀𝗮𝗹𝗮𝗯𝗮𝗱
📧 [email protected]
📞 +92-302-7114450