Zahid Farooq & Co, Chartered Accountants, Cost & Management Accountants

AT ICMAP ON 14TH AUGUST

Success is getting what you want, happiness is wanting what you get

Bana dy mujhy bhi apny un bandon ki tarah Parwardegaar
jo soty hain tujhy yaad kar k, j0 uthty hain Tera Naam ly k

Always save ur determination like a mirror,
which never loses its ability to reflect back even if broken into thousand pieces

Acha sochiye or acha boliye, Q k bad-gumani or bad-zubani, 2 aisy aib h jo insan K har Kamal Ko zawal mein badal dete hen

He has achieved success who has lived well, laughed often, and loved much

The greatest glory in living lies not in never falling, but in rising every time we fall

Buray Salook Ka Behtareen Jawab Acha Salook Hai,
Aur
Jahalat Ka Behtareen Jawab Khamoshi Hy

Never try to go back and repair the past,
That is impossible,
But be prepared to construct the future which is predictable.

LEADERSHIP SUMMIT-SERENA HOTEL-23-4-2024

COMMENTS ON The Tax Laws (First Amendment) Ordinance, 2024

Deletion first stage of appeal is highly unjustified because it will create many problems like following:
1. There will be only one fact finding forum that is ATIR
2. ATIR cannot go in detail of facts of the cases.
3. Imposition of Time limitations for ATIR will result in deciding cases within short time. This will also curtail time to find facts by ATIR
4. If this amendment is implemented, ATIR will just set aside or reject the appeals
5. Cost of Justice will be very high when appellant will be required to file second appeal before High Court.
6. It will take longer time to finalize when cases will be transferred to High Court
7. There will be no benefit of doing this whole practice because the burden of First stage of appeal will be shifted to-Alternate Dispute Resolution Committee-- which will create more complications
We propose to use other means to expedite justice like allowing certain time limitations to decide cases at both levels

ZAHID FAROOQ & CO
Chartered Accountants