BOOK REVIEW

Title:
INCOME TAX LAW PLUS PRACTICAL PROBLEMS WITH SOLUTIONS: 2006-07
Authored By:
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).

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

Pakistan is in search of a Pakistan a financially

fiscal policy which can comfortable look.
ensure an accelerated The Federal Government
tempo of domestic has major sources of
resource mobilization to domestic
not only meet the current revenues
expenditure at federal for 2006-07
level but also contribute namely,
substantially toward indirect tax
financing annual (Rs. 569
development plans. The billion-
federal budget for 2006-07 53%), direct
forecasted a revenue taxes-
deficit of Rs. 175 billion mainly
and the federal ADP 2006- income tax
07 of Rs. 435 billion which (Rs. 272
is dependent on 55% on billion-
external assistance. In this 25%), non-
backdrop, there is an tax revenue (Rs. 242
urgent need for Pakistan to billion-22%).
help develop innovative The book under review
measures to reverse the relates to income tax.
above trends and give Based on available
statistics there are around
1.4 million income tax Tax, Exemptions
payers in a population of and Tax
160 million of people in Concessions, The
Pakistan. This situation Finance Act, 2006,
requires immediate Administration,
attention as the untapped Appeals, heads of
number of income tax Income: Salaries,
payers I said to be around Income from
five million. The Central Property, Income
Board of Revenue is ever from Business,
keen to expand the base. Income from other
Strong logistics are needed Sources, head of
to achieve the above goal Income: Capital
and improve tax-GDP ratio. Gains, Procedure,
The earlier this is done the Provisions
better. Governing Persons,
In this background, Prof. Tax Accounting,
Dr. Khawaja Amjad Saeed, Losses and,
an eminent professional Miscellaneous
accountant turned topics.
excellent academician, has 2. In the second part,
written book entitled the book contains
“Income Tax law Plus fifty five (55)
Practical Problems with questions with
Solutions” (Edition 2006- model solutions
07). This magnificent covering
treatises has the following assessment of
redeeming features: individuals, AOPs,
1. It consists of two Companies and Set-
parts. The first part off and Carry-
contains lucid and forward of Losses.
easy to understand 3. Amendments
commentary on introduced through
topics such as: the Finance Act,
Introduction, 2006 into the
Capital and Income tax
Revenue, Charge of Ordinance 2001
 have been duly commerce (B.Com/M.com),
incorporated into Banking & Finance
the book. (BBA/MBA), Insurance &
4. Easy to Risk Management
comprehend notes (BBA/MBA) MBE, BBIT,
on the Finance Act, MBIT, bankers, insurance
2006 issued by the and business executives.
Central Board of Indeed this is an excellent
Revenue have also effort to explain the legal
been included in provisions of the income
the book. Tax Ordinance, 2001. It is
Prof. Dr. Khawaja Amjad hoped that stakeholders
Saeed is a well will greatly benefit from it.
acknowledged scholar in Laypersons can easily
Pakistan and abroad. His comprehend the working of
services to the nation are Income Tax law in Pakistan
well spread over forty nine by reading this book.
(49) years-eight (8) years in The book is a logistical
the Corporate World and support to expanding
forty (41) years in income tax payers base in
teaching, training, Pakistan and the author
management development, deserves special
research, consulting and appreciation in this
HRM/HRD. He has authored respect.
over thirty books which We congratulate the author
have served diversified and earnestly hope that he
reading community at will continue this noble
home and abroad. effort to serve the reading
The above book will be community with his
beneficial to students of writings and thus pave the
business and public way for managerial
administration (MBA/MPA), revolution in Pakistan.