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FBR Proposes Amendments to Income Tax Rules 2002

FBR Proposes Amendments to Income Tax Rules 2002 The FBR has proposed amendments in the Income Tax Rules, 2002 through a notification issued on Tuesday. A tax expert told Propakistani that the FBR issued the draft notification, much awaited by investors in stock exchange fulfilling their demands by allowing adjustment of capital loss suffered by them due to pandemic of covid during 2019 and 2020. However considering a large number of investors being not on the ATL list, the incentive is not allowed to the persons who are not on the Active Taxpayers List. The loss on sale of securities can now be adjusted in the tax year 2021 and following 3 years of active taxpayers. Further, Adjustment of carried forward losses shall be made on monthly basis by NPCCL from the first month of updation of ATL for that tax year, tax expert added.

PSX s history making week: All share volume surged past 2 billion shares, benchmark index crossed 47,000 mark

PSX s history making week: All share volume surged past 2 billion shares, benchmark index crossed 47,000 mark
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KSE-100: Stocks extend gains on upbeat economic projections; index up 203 points

KSE-100: Stocks extend gains on upbeat economic projections; index up 203 points May 26, 2021 Bullish momentum continued at Pakistan Stock Exchange (PSX) as stocks extended gains for the third consecutive session on Tuesday, as investors’ sentiments remained upbeat on positive economic indicators. On Tuesday, the benchmark KSE-100 index clocked at 46,300 index level after gaining about 203 points by the closing bell, as the Index remained positive throughout the session touching an intraday high of 46,371.69 and a low of 46,047.66. Investors anticipating tax incentives for the industries in the upcoming budget helped the KSE-100 index boost market sentiments, as investors react to the news that the government may be formulating a populist budget proposal to keep the personal income taxes and power tariffs unchanged.

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