TRC Lead Team

TRC Lead Team

Our team includes Chartered Accountants, Certified Public Accountants, Cost and Management Accountants, Tax Practicing Lawyer, Intuit QuickBooks and Microsoft Dynamics Certified Professionals from group of big professional firms. Therefore, we possess the necessary competence to provide quality service to our range of clients at a competitive price. We can offer our clients the expertise and assurance they need to manage their organization effectively and proactively.

The team is led by Mr. Tahseen Bukhari who gels the entire spectrum of national and international experience in the domains of Finance, Audit, ERP Implementation, Management, Organization Development, Business Process Outsourcing and Systems Development. He holds Chartered Accountancy certification from the Institute of Chartered Accountants of Pakistan.

He worked for Deloitte (Public/Chartered Accountants) KSA and Pakistan for over 4 years and also at management position of a UAE based well established multinational group for over 2 years.

TRC Support Team

The support team consists of approximately 10 employees and trainees who are either ACCA or ICMA finalists / part qualified and CA trainees.


Contact us Our Clients

News & Updates

 Javaid Ghani, Chairman, Federal Board of Revenue (FBR) will be listening to problems faced by taxpayers through e-Katcheri on Friday, August 21, 2020.

The chairman will be available for taxpayers through telephone number # 051-111772772 between 10:00 AM to 11:00 AM on Friday, August 21, 2020.

FBR has launched this program to comply with the directive of Prime Minister Imran khan to conduct e-khuli katcheri to stay in contact with the public by all available means and provide them an accessible platform to raise their issues for timely resolution.

As per the FBR, e-Katcheri would be conducted by every tier of FBR in the second week of every month on a regular basis.

All the tax offices have been directed by the FBR to ensure that all proceedings of the e-Katcheri are property recorded and tasks should be assigned to concerned officers accordingly.

Tax offices shall also submit a performance report on the outcome of meeting with the public.

In the wake of COVID-19, the tax authorities shall conduct one e-Katcheri at all tiers of FBR in the second week of every month. In the backdrop of COVID-19, only e-Katcheris shall be conducted for the time being until normalcy of the situation.

News & Updates

An update has been made in the withholding tax rates to be paid by the telephone subscribers for using phone services, for the tax year 2021.

The FBR issued withholding tax card 2020-2021 (updated up to June 30, 2020) incorporating amendment made to Income Tax Ordinance, 2001 through Finance Act, 2020.

The withholding tax rates shall be:

Telephone subscribers and internet

  • Monthly bill up to Rs.1000, then no withholding tax
  • Bill exceeding 1,000 the withholding tax rate of 10 percent shall apply

In the case of the subscriber of the internet, mobile telephone, and pre-paid internet or a telephone card

  • withholding tax rate shall be 12.5 percent of the amount of bill or sales price of internet pre-paid card or prepaid telephone card or sale of units through any electronic medium or whatever form

The withholding tax collected or deducted shall be adjustable against total tax liability.

News & Updates

Withholding tax rates for brokerage and commission income for the tax year 2021 have been updated by the Federal Board of Revenue Pakistan.

The FBR issued withholding tax card 2020-2021 incorporating amendment to Income Tax Ordinance, 2001 made through Finance Act, 2020.

Under Section 233 of Income Tax Ordinance, 2001 federal government, the provincial government, local authority, company, the association of persons (AOP) are required to collect/deduct withholding tax at the time the brokerage or commission is actually paid.

The amount deducted shall be the minimum tax.

The withholding tax rates for brokerage and commission shall be:

In the case of:

  • The persons not covered in 1 & 2 the tax rate shall be 12 percent and for persons not appearing on the Active Taxpayers List ATL, the tax shall be 24 percent.
  • Advertising agents shall pay 10 percent and persons not on the  (ATL) shall be 20 percent.
  • Life insurance agents where commission received is less than Rs0.5 million per annum the tax rate shall be 8 percent and for persons not appearing on the ATL the tax shall be 16 percent.

Under Section 233AA of the ordinance, withholding tax shall be paid by the members of stock exchange (margin financier & lenders) trading finance.

The National Clearing Company of Pakistan Limited (NCCPL) will be collecting the withholding tax at 10 percent of the mark-up or interest from the members of the stock exchange (margin financier & lenders) trading finance at the time of mark-up/interest is paid.

The withholding tax is adjustable against total tax liability.

News & Updates

State Bank of Pakistan has announced the closure of the central bank as the religious occasion of Eid-ul-Adha is to be celebrated in Pakistan on Saturday, August 01, 2020.

As per the announcement made by the SBP, the central bank shall remain closed from July 31, 2020, to August 02, 2020 (Friday to Sunday) for the occasion of Eid-ul-Adha.

SBP also announced that the same holidays as announced shall be observed by the commercial banks as well.

News & Updates

For the purpose of ensuring the availability of the commodity, the Federal Board of Revenue Pakistan (FBR) will be exempting the withholding tax on the import of wheat soon.

This was said by Omar Hamid, Secretary Ministry of National Food Security and Research (NFS&R), while chairing a meeting on wheat import on Monday.

As per His sayings, the federal government has already abolished the taxes and duties including regulatory duty 60 percent, custom duty 11 percent, sales tax 17 percent, and withholding tax 06 percent.

Waiving of the withholding tax shall be notified in a couple of days, said Omar Hamid. He further added that the private wheat importers would be on priority and the concerns of the importers would be getting solved at the earliest.

He mentioned that NFS&R is working in PM Imran Khan's direction of to ensure an uninterrupted supply countrywide. NFS&R will help wheat importers at all levels.

This is being done to make the supply of wheat to the general public at an affordable price and the NFS&R is facilitating wheat importers by helping them in priority berthing, storage, multiple ports, and clearances on the landing of shipment.

Imported wheat has also been exempted from the Anti- Hoarding Act imposed by the provincial governments on producing verified import records by the importers.

The meeting was attended by wheat importers, representatives from NFS&R, Ministry of Maritime Affairs, FBR and Finance Division.

  1. FBR to get CNIC details of unregistered persons making purchases of above Rs.100000
  2. Finance Bill 2020 requires Pakistan Stock Exchange (PSX) and other service providers to deduct 3 percent income tax on payment to non-residents.
  3. Advance tax on the educational fee to be collected from the persons not appearing on Active Tax Payers List (ATL).
  4. Regulatory duty on import of wheat has been abolished by the FBR to maintain the prices at lower
  5. Federal Board of Revenue Pakistan to seal the big retail units until the integration of their Point of Sales (POS) with the FBR.
  6. Finance Act 2020 allows the import of heavy electric vehicles at a one percent rate of Customs Duty.

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