BOOK REVIEW

INCOME TAX LAW PLUS PRACTICAL PROBLEMS WITH SOLUTIONS

Principal, Hailey College of Banking & Finance, University of the Punjab, Lahore Pakistan, Email:kamjadsaeed@yahoo.com www.kamjadsaeed.edu.pk Member Governing Council, International Federation of Accountants (IFAC), New York (1997-2000), President, South Asian Federation of Accountants (SAFA) (1997), President, Institute of Cost and Management Accountants of Pakistan (1997-2000), President, Association of Management Development Institutions of South Asia (AMDISA) (1993-96), Pro Vice-Chancellor University of the Punjab, Lahore (1994-1996), Founder Director, Institute of Business Administration (IBA), University of the Punjab, Lahore (1973-1996).

Title:

Authored By:

Published By: M. AZEEM ACADEMY 22-URDU BAZAR, LAHORE TEL: (042) 723144- PRICE:150. PP 390.

Pakistan is in search of a fiscal ensure tempo resource policy an of which can accelerated domestic to

Pakistan

financially

comfortable look. The Federal Government has major sources revenues of for domestic

mobilization at

not only meet the current expenditure substantially financing development forecasted federal toward annual plans. a The level but also contribute

2006-07 namely, indirect tax (Rs. 569 billion-53%), direct taxes-mainly income tax (Rs. 272 billion- 25%), non-tax revenue (Rs. 242 billion-22%). The Based 1.4 book to on under review tax. available income tax relates income

federal budget for 2006-07 revenue deficit of Rs. 175 billion and the federal ADP 200607 of Rs. 435 billion which is dependent on 55% on external assistance. In this backdrop, help above there is an urgent need for Pakistan to develop trends innovative and give measures to reverse the

statistics there are around million payers in a population of 160 million of people in Pakistan. requires number of This situation immediate income tax

attention as the untapped payers I said to be around

five million. The Central Board of Revenue is ever keen to expand the base. Strong logistics are needed to achieve the above goal and improve tax-GDP ratio. The earlier this is done the better. In this background, Prof. Dr. Khawaja Amjad Saeed, an eminent professional turned book Tax entitled law Plus with 2006accountant written Income Practical Solutions 07). This

Income Property, from Sources, Income: Gains, Provisions

from Income Business, head of

Income from other Capital Procedure,

Governing Persons, Tax Losses Miscellaneous topics. 2. In the second part, the book contains fifty model covering assessment individuals, off and of AOPs, Carryfive (55) with solutions questions Accounting, and,

excellent academician, has

Problems (Edition

magnificent

treatises has the following redeeming features: 1. It consists of two parts. and The easy first to on as: and Exemptions Tax The part contains lucid understand commentary topics Capital Tax, and Concessions, Administration, Appeals, heads of Income: Salaries, such Introduction, Revenue, Charge of

Companies and Setforward of Losses. 3. Amendments introduced through the 2006 Income Ordinance have been incorporated the book. 4. Easy to comprehend notes on the Finance Act, 2006 issued by the Finance into Act, the tax 2001 duly into

Finance Act, 2006,

Central been

Board

of in

(BBA/MBA) and business

MBE,

BBIT,

Revenue have also included the book. Prof. Dr. Khawaja Amjad Saeed is a scholar well in acknowledged

MBIT, bankers, insurance executives. Indeed this is an excellent effort to explain the legal provisions of the income Tax Ordinance, 2001. It is hoped that stakeholders can easily will greatly benefit from it. Laypersons comprehend the working of Income Tax law in Pakistan by reading this book. The book is a logistical support to expanding income tax payers base in Pakistan and the author deserves appreciation respect. We congratulate the author and earnestly hope that he will continue this noble effort to serve the reading community way for with his writings and thus pave the managerial revolution in Pakistan. in special this

Pakistan and abroad. His services to the nation are well spread over forty nine (49) years-eight (8) years in the Corporate World and forty (41) years in teaching, research, training, consulting and

management development, HRM/HRD. He has authored over thirty books which have reading served diversified at community

home and abroad. The above book will be beneficial to students of business and public administration (MBA/MPA), commerce (B.Com/M.com), Banking (BBA/MBA), Risk & Finance & Management Insurance