Wali Law Associates

15/05/2026

The National Assembly Standing Committee on Finance and Revenue has approved the Financial Institutions (Amendment) Bill 2026 that grants banks expanded powers to act against loan defaulters, including property seizure and public disclosure of defaulters’ identities.

Under the proposed framework, banks will be able to initiate recovery action if borrowers fail to repay loans within the agreed timeframe.

However, the law requires banks to issue three formal notices within 90 days before any enforcement action. For property seizure, banks will also need to seek government approval before proceeding.

The bill further restricts the rental of properties acquired under housing finance schemes, barring borrowers from leasing such assets to third parties.

07/05/2026

Wali Law Associates

The Federal Constitutional Court has struck down Section 7E of the Income Tax Ordinance, 2001 being ultra vires the Constitution.

05/05/2026

بریکنگ نیوز
پولٹری سیکٹر کو بڑا ریلیف، 4 فیصد اضافی ٹیکس ختم۔۔۔

اسلام آباد: وفاقی آئینی عدالت نے پاکستان کے پولٹری سیکٹر کے لیے ایک اہم اور تاریخی فیصلہ سناتے ہوئے 4 فیصد اضافی ٹیکس کو مکمل طور پر کالعدم قرار دے دیا۔ یہ فیصلہ پاکستان پولٹری ایسوسی ایشن کے دائر کردہ مقدمے میں سنایا گیا۔

عدالت نے اپنے فیصلے میں واضح کیا کہ پاکستان پولٹری ایسوسی ایشن، آل پاکستان فیڈ ملز ایسوسی ایشن اور ملک بھر کے پولٹری فارمرز پر عائد 4 فیصد اضافی ٹیکس غیر قانونی ہے، لہٰذا اسے نہ صرف فوری طور پر ختم کیا جاتا ہے بلکہ آئندہ کے لیے بھی اس کا نفاذ نہیں کیا جا سکے گا۔

فیصلے کے بعد پولٹری انڈسٹری میں خوشی کی لہر دوڑ گئی ہے، جبکہ ماہرین کے مطابق اس اقدام سے فیڈ ملز، فارمرز اور دیگر اسٹیک ہولڈرز کو نمایاں مالی ریلیف ملے گا اور صنعت کی ترقی و استحکام میں مدد ملے گی۔

اس کیس کی کامیابی میں ڈاکٹر ایف ایم صابر کی مسلسل محنت اور پیشہ ورانہ کاوشیں نمایاں رہیں، جبکہ گل عزیز اعوان نے بھی عدالت میں پیش ہو کر مؤثر انداز میں کیس کی پیروی کی۔

ترجمان کے مطابق یہ فیصلہ پولٹری سیکٹر کے لیے ایک سنگِ میل کی حیثیت رکھتا ہے اور مستقبل میں کاروباری آسانیوں کو فروغ دے گا۔
ذرائع: پاکستان پولٹری ایسوسی ایشن (PPA)

04/05/2026

Wali Law Associates
IHC rejects Hubco’s petition against FBR notice

Petition challenged a show-cause notice issued by FBR, reinforcing the tax authority’s jurisdiction in the matter.

01/05/2026

The registration of an FIR against traders of a jewellery market in Lahore by the RTO-Lahore team, during monitoring and checking of gold stock, along with the alleged resistance by traders, is not a positive sign. Such measures are causing undue hardship, fear, and concern among taxpayers, tax professionals, and the entire tax community. These actions require prompt, fair, and careful reconsideration.
We express our serious reservations regarding the treatment of taxpayers, particularly the initiation of harsh and stringent actions under Section 175 of the Income Tax Ordinance, 2001. The use of such extreme measures creates an atmosphere of mistrust and harassment rather than cooperation and compliance.
The Honorable President and General Secretary of the Pakistan Tax Bar Association are respectfully urged to approach the concerned authorities and take immediate necessary action against these harsh and unjust measures, ensuring that taxpayers are treated with fairness, dignity, and in accordance with the law.
Wali law Associates

30/04/2026

SECTION 175:
Section 175 of the Income Tax Ordinance 2001 authorizes the Commissioner or authorized officers to enter, search premises, and seize records without prior notice for audit, survey, or investigating tax evasion. Officers can access documents, computers, and digital records to ensure tax law compliance, with recent rulings reinforcing these powers.
Wali Law Associates !!

24/04/2026

Wali law Associates

23/04/2026

Wali Law Associates.

حکومت کی جانب سے ایک بڑا اعلان متوقع ہے کیونکہ اگلے 48 گھنٹوں میں
پٹرول اور ڈیزل کی قیمتوں میں بڑی کمی ہو سکتی ہے۔

22/04/2026

MCB Gets Big Relief from Court Against FBR

ATIR Lahore rules minimum tax under Section 113 cannot apply without actual tax liability, granting major relief to MCB Bank and limiting tax authorities’ powers.

20/04/2026

Tax return filing compliance in Pakistan has reached a record high in fiscal year 2024-25, driven by enforcement measures, legal reforms and increased taxpayer awareness, according to official data.

Figures released by the Federal Board of Revenue showed that income tax payments made along with return filings rose to Rs222 billion in FY2024-25, marking the highest level on record.

The steady rise in “payment with returns” over recent years highlights improving documentation of the economy and greater adherence to tax regulations.

Wali Law Associates

17/01/2022

SERVICES OUR LAW FIRM OFFERS:-

1. COMPANY REGISTRATION
2. INCOME TAX
3. TRADEMARKS, COPYRIGHTS, PATENTS
4. DEPARTMENT COMPLIANCES
5. FBR MATTERS
6. CHAMBER OF COMMERCE MEMBERSHIP
7. FINANCIAL REPORTS
8. SECP; COMPANY REGISTRATION
9. IT COMPANIES; PSEB REGISTRATION
10. PROPERTY DISPUTES, ADCR, ARBITRATION
11. FIA/NAB CASES/RENT TRIBUNAL MATTERS
12. CANTONMENT BOARD CASES
13. ANTICORRUPTION AND BANKING COURT CASES
14. FAMILY MATTERS AND DISPUTE RESOLUTION
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