When it comes to the departmental adjudication then it is the duty of the assessee as well as the adjudicating authority to interpret the law in its true essence and any effort to transgress the boundary of interpretation is strictly prohibited. In this background let us examine Rule 4 of the CENVAT Credit Rules, 2002 … Read more
Economic history First five decades Pakistan was a very poor and predominantly agricultural country when it gained independence in 1947 from Britain. Pakistan’s average economic growth rate since independence has been higher than the average growth rate of the world economy during the period. Average annual real GDP growth rates were 6.8% in the 1960s, … Read more
Can I see the Title Deeds? What will be my undivided share in the property? Are you building within the permissible FSI? Will you give me an Allotment Letter? Will you give me a comprehensive Agreement of Construction? Can I have a copy of PDA’s approved plan and planning permit, before commencement of construction? What … Read more
ROUND TRIPPING Â Â Introduction: Â Round Tripping refers to the capital belonging to a country, which leaves the country and is then reinvested into the country in the form of FDI. This route attracts a lot of incentives, which are: Firstly, enterprises set up through FDI enjoy … Read more
Over the last year, the United States government has taken a great interest in undisclosed foreign bank accounts. Individual taxpayers who file U.S tax returns, and who have any offshore or foreign accounts must report income from these offshore accounts on their income tax returns. They must also declare any offshore or foreign bank accounts … Read more