- Residential status & tax incidence
- Salary and its computation
- Income from Property and its computation
- Income from Business and its computation
- ‘Capital Gains’ and its computation
- “Income from Other Sources” and its Computation
- Clubbing of Income
- Set-off and carry forward of losses
- Allowances & Tax Credits
- Taxation of Individuals
- Taxation of association of persons
- Taxation of Companies
- Presumptive income, Taxation of PE, non-residents & liability in special cases
- Returns/assessment of income
- Advance tax/deduction of tax at source
- Collection & Recovery of tax
- Penalties and Prosecutions
- Appeals & References
- Tax Amnesty Schemes
- Benami Transactions
- Statements & Miscellaneous Provisions
l APPENDIX 1:
Tax Rates/Quick Tax Guide / Withholding Tax Chart /
Marginal Tax Relief for Salaried Taxpayers
l APPENDIX 2:
Answers to unsolved exercises
l APPENDIX 3:
Incomes exempt from tax
With the blessings of Allah Almighty, we are pleased to present the 30th revised edition  of the book. Since 2003 after the introduction of the Income Tax Ordinance, 2001, the revised editions have received a tremendous commendation from the readers, who have expressed profound confidence in us as we try our best to come up to their expectations. This edition purports to explain the provisions of Income Tax Ordinance, 2001 as amended by the Finance Act, 2020 and changes inserted through Statutory Regulatory Orders (SROs) till 31st May 2021.
Following are highlights of the 30th Revised Edition:
• The scheme of Income Tax Ordinance, 2001 elucidated in a simple but lucid manner.
• Entire material rewritten with suitable illustrations explaining the law as amended up to 31st May 2021.
• Includes changes notified up to 31st May 2021.
• Contains a table of cases, cross-references, appendices, and indexes arranged in a systematic manner.
• Recent case-law, FBR’s instructions, and judicial pronouncements with judicial analysis fully incorporated.
• For withholding tax agents it is a comprehensive guide as provided in Chapter 16 to cope with the cumbersome, ever-expanding system of collection/deduction of tax at source.
• Quick Tax Guide is provided for readers [Appendix 1].
• Complete ‘Tax Withholding Chart’ with Schedule for filing of statements under various sections and other sections included for ready reference
Since its first edition in 1990, this work has established itself as a composite textbook on Pakistani income tax law and practice. It has attained the position of a most useful and practical treatise on Income Tax Law. The lucidity and simplicity together make the work a useful reading. Patterned on a do-it-yourself guide, this is a practical commentary saving the readers from tedious and complicated areas of futile controversies and intricacies of law. As Review Editor, I have tried my best to make the book as presentable as possible. Any comments and suggestions for improvement will be most welcomed and highly appreciated.
I am grateful to Allah Almighty (SWT) that this is the thirtieth consecutive year covering almost three decades of publication of this book, in return for which I have earned a reward, the great appreciation of my readers. I wrote this book in 1989 when I was posted at what is now known as the Directorate General of Training & Research (Inland Revenue), Lahore, Government of Pakistan, as Assistant Director with the responsibility to teach tax laws. During this period, I had the privilege of training five batches and more than 200 officers recruited through the Federal Public Service Commission. Considering the difficulty of grasping the essentials of this complicated law, I was motivated to introduce some work that could prove beneficial for the comprehension of students, taxpayers, and professionals.
In this endeavor, I am indebted to Huzaima Bukhari who, as usual, devoted all her energies as Review Editor for the 30th Revised Edition along with her able research team headed by Mr. Mansoor Beg. Without their support, this work could not have been accomplished. Staff at Huzaima & Ikram and AA Consultants & Publishers provided invaluable assistance. My sons Abbas Askar and Ammar Askar and their spouses, have encouraged me to continue with this project as it extends valuable guidance to students dealing with the difficult subject of income tax law. Mr. Aleem Masood did an admirable work on the computer and deserves special thanks.
I am grateful to all those readers who pointed out omissions and errors in the previous editions. I hope to receive more suggestions in the future since they contribute tremendously towards improving this work and placing my knowledge of income tax law in a proper perspective.