Basic exemption limit for Income Tax being enhanced to Rs 400,000

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Wednesday, 22 May 2013

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Akhtar Rasool led team management to continue till World Cup

LAHORE, May 21 (APP): Pakistan Hockey Federation has decided to retain Akhtar Rasool led team management till next year’s World Cup adding few professionals in the team management staff to boost the performance of the team.
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Yousaf denies announcing retirement from international cricket

LAHORE, May 21 (APP): Veteran test cricketer ,Muhammad Yousaf has denied retirement from international cricket and said despite not being involved in any form of cricket in recent years he has no plans to call it a day.
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PKF to organize talent hunt programme

LAHORE, May 21 (APP): Pakistan Judo Federation will organize the third talent hunt programme, both for men and women, from June 2-4 at Qayyum stadium peshawar.
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Adaptability to conditions key in Pakistan success in Champions Trophy

KARACHI, May 21 (APP): Former skipper Aamer Sohail firmly believes that Pakistan’s chances in the Champions Trophy depend on their adoptability to the conditions. “Conditions would play a very important role in Pakistan’s chances for this premier 8-nation contest,” Aamer Sohail told APP in an interview on Tuesday.
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Tauqir Zia demands ad hoc arrangements in PCB

KARACHI, May 21 (APP): Former Chairman of Pakistan Cricket Board (PCB) Lt. Gen (Retd) Tauqir Zia has demanded ad hoc arrangements in the present set-up of the board. When the incumbent management of the PCB is celebrating the democratic transition a few former, current players and administrators casting doubts on the mechanism adopted by the PCB for the elections held in Islamabad on May 8 three-day before the General Elections in the country.

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Basic exemption limit for Income Tax being enhanced to Rs 400,000

ISLAMABAD, June 1 (APP): Minister for Finance Abdul Hafeez Shaikh said on Friday that the basic exemption limit for Income Tax was being further enhanced to Rs. 400,000, this year. “Similarly, the exemption limit for business individuals and Association of Persons is also being enhanced to Rs. 400,000,” he told the National Assembly during his budget speech. The minister said it had also been decided to reduce tax slabs to five only. “Importantly, a major relief will be that only the portion of income exceeding a tax bracket would charged at the higher tax rate,” he added.

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