The Central Board of Direct Taxes (CBDT) has released a circular outlining the guidelines for deduction of tax at source under Section 194-O of the […]
Tax deduction
TDS Under Section 194T: Tax Deduction on Partner Payments Explained
Section 194T has been introduced to ensure tax deduction at source on certain payments made by firms to their partners. Previously, there was no requirement […]
A Complete Guide to Avoid Unnecessary Tax Deductions
In Pakistan, millions of individuals pay taxes annually, yet a large portion of the population, especially salaried employees, remain unfamiliar with the intricacies of the […]
Reduce Your Tax Bill Legally: Top Tax Credit and Deductible Allowance Strategies
Taxation is an essential mechanism through which governments fund public services and infrastructure. In Pakistan, the Federal Board of Revenue (FBR) administers the tax system […]
How Bloggers Saved Big on Taxes in 2018: Deductions That Worked
Running a blogging business, whether full-time or part-time, opens the door to valuable tax deductions that reduce taxable income and lower the overall tax burden. […]
Parent’s Guide to Maximizing Tax Savings with Child-Related Benefits
Raising children can be both rewarding and financially demanding. While expenses often rise with each new addition to the family, there is a silver lining […]
How Donating Your Wedding Dress Can Lead to Tax Deductions
A wedding dress holds cherished memories, but for many brides, it eventually becomes an item that occupies closet space. While the emotional attachment is undeniable, […]
Claiming Donated Game Meat: A Tax Deduction Opportunity
Charitable donations have long been recognized by tax authorities as actions that merit financial incentives. When taxpayers give to approved organizations, they are allowed to […]
Don’t Miss These 12 Tax Credits and Deductions from 2020
Every year, millions of taxpayers miss out on valuable tax credits and deductions simply because they are unaware they qualify for them. Especially for the […]
Essential Tax Deductions for Current and Soon-to-Be Retirees
Reaching retirement age often brings with it dreams of relaxation, travel, and freedom from the daily grind. However, transitioning from earning a paycheck to living […]
Living Organ Donors: How to Claim Valuable Tax Deductions and Benefits
Every year, thousands of Americans step forward to become living organ donors. These individuals offer a kidney, part of their liver, or even bone marrow […]
Smart Tax Deductions Every Small Business Owner Should Use
Navigating the world of business finances and taxes can be daunting for small business owners, independent contractors, and freelancers. One of the most effective strategies […]
Business Meals vs. Entertainment: New Deduction Rules Explained
For decades, businesses in the United States were accustomed to a familiar structure when it came to deducting meals and entertainment expenses. Before the major […]
Using Tax Breaks to Pay for College: What You Need to Know
Education tax benefits can offer significant financial relief for students and families paying for higher education. These benefits come in different forms such as tax […]
Work-from-Home Tax Deductions: What You Can Claim
Working from home has become a widely adopted practice, especially after the COVID-19 pandemic forced many businesses to reimagine traditional office environments. The transition to […]