The Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Monday launched Shariah Compliant Investment 4 Products to promote Islamic financial system and to gradually eliminate interest based financial system in Pakistan.
A senior citizen is granted a higher exemption limit compared to a general taxpayer. Retired employees, between the age of 60 and 80 years, have the basic exemption limit fixed at Rs 3 lakh. Whereas, super senior citizens, who are above above 80 years, the exemption limit is set at Rs 5 Lakh.
INDUSTRIAL SECTOR HIT HARD WITH NEGATIVE GROWTH OF -2 94%: Growth rate down to 0 29% dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
The supply-side framework outlined in this paper does not include all the effects of taxation that economists would like to examine. Depending on one's perspective, the glass could be considered half-full as well as half-empty. But if the only "dynamic" thing the Joint Committee on Taxation did was to incorporate the detrimental effects of federal deficits on capital formation, this would be more than worth the effort.