Iqbal Yasir & Co CAs Faisalabad

05/09/2026

📢 10% ADVANCE TAX ON MARRIAGE FUNCTIONS & SOCIAL GATHERINGS

FBR Tax Update | Finance Act 2026 | Tax Year 2027

From July 1, 2026, a 10% advance tax will be collected on the total bill of specified functions held at designated venues.

💰 Covered: Weddings, seminars, workshops, exhibitions, concerts, parties, and similar gatherings.

🏨 Designated venues: Marriage halls, marquees, hotels, restaurants, commercial lawns, clubs, community centres, and other prescribed venues.

🍽️ Also covered: Food, catering, decoration, and other prescribed related services.

📌 Important: The tax is adjustable against the recipient’s final income tax liability. Venue operators are responsible for collecting and depositing it with the FBR.

Iqbal Yasir & Co Chartered Accountants, Faisalabad
📱 +92-302-7114450 | 📧 [email protected]

02/09/2026

📢 We’re Hiring – Assistant Manager Advisory | Faisalabad

Iqbal Yasir & Co. Chartered Accountants is looking for a CA Finalist (Articles Completed) with relevant experience in Advisory & Corporate Services for our Faisalabad Office.

📍 Position: Assistant Manager – Advisory
🎓 Qualification: CA Finalist | Articles Completed
💼 Experience: Advisory & Corporate Services
📧 Apply: [email protected] — mention the position in subject line
📱 WhatsApp: +92-302-7114450

Join our professional team and take the next step in your career.

02/09/2026

FBR Makes CRM System Mandatory for Income Tax Assessment Proceedings

The Federal Board of Revenue (FBR) has introduced an important change in the initiation of Income Tax assessment proceedings in Pakistan.

Through Income Tax Circular No. 01 of 2026-27 – IR Operations, FBR has made the Compliance Risk Management (CRM) System mandatory with effect from 1 September 2026 for selection and assignment of cases for new or amended assessment proceedings.

Key Highlights:

🔹 No new or amended assessment proceedings—including proceedings under Sections 121, 122, 122A, 122C and 177 of the Income Tax Ordinance, 2001—may be initiated unless the case has been selected and assigned through the CRM System.

🔹 Proceedings initiated outside the prescribed CRM process will be considered unauthorized and may be rendered void ab initio.

🔹 Assessment proceedings already in progress as of 31 August 2026 may continue under the existing framework. However, any fresh amendment, reassessment or new show-cause notice issued from 1 September 2026 onwards must comply with CRM-based selection.

🔹 The objective of this initiative is to bring greater transparency, uniformity and objectivity to the selection of cases for assessment.

This represents an important step towards a more digitized, automated and risk-based tax administration system in Pakistan.

Iqbal Yasir & Co. Chartered Accountants
📍 P-20 Asif Street, Bilal Road, Civil Lines, Faisalabad
📧 [email protected]
📞 +92-302-7114450

20/08/2026

Banks will now Share data with FBR.

20/08/2026

📢 ARTICLES OPPORTUNITY | CAF QUALIFIED STUDENTS

Start Your CA Journey With Us!

Iqbal Yasir & Co., Chartered Accountants is inviting applications from CAF Qualified Students for Articleship at our Faisalabad Office.

Build your professional career with practical exposure and a strong learning environment.

📩 Send Your Resume: [email protected]
📱 Contact / WhatsApp: +92-302-7114450
📍 Office: P-20 Asif Street, Bilal Road, Civil Lines, Faisalabad

Iqbal Yasir & Co.
Chartered Accountants | Faisalabad Office

Apply Now & Become Part of Our Team!

24/07/2026

At Iqbal Yasir & Co. Chartered Accountants, we believe that strong teams are built not only through professional excellence but also through meaningful experiences together.

Our Faisalabad office recently organized a memorable team retreat to the beautiful northern areas of Pakistan, including Naran, Shogran, and Babusar Top. The trip provided an excellent opportunity for our team members to strengthen relationships, enhance collaboration, and return with renewed motivation and fresh perspectives.

We extend our sincere appreciation to Mr. Umer Farooq, Director Taxation, for his dedicated supervision and coordination of the trip, and to Mr. Shakeel Nasir, Partner, for his continued support and commitment to employee well-being and professional growth.

A motivated team is the foundation of exceptional client service, and we remain committed to fostering a positive and engaging work environment for our professionals.

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