Chaudhary Consultancy

موبائل فونز پر یکساں 17 فیصد ٹیکس عائد ،
سونے چاندی پر ٹیکس 1 فیصد سے 17 فیصد
آئل سیڈ کی درآمد پر ٹیکس 5 فیصد سے 17 فیصد ،
مائننگ کیلئے درآمدی مشینری پر 17 فیصد نیا ٹیکس لگ گے
پرچون فروشوں کا ٹیکس 10 فیصد سے بڑھا کر 17 فیصد ،
ساشے میں فروخت ہونے والی اشیاء کا ٹیکس 8 فیصد سے بڑھا کر 17 فیصد ،
غیر ملکی سرکاری تحفوں اور عطیات پر 17 فیصد ٹیکس لاگو،
قدرتی آفات کیلئے موصو لہ مال پر ٹیکس لاگو ،
پوسٹ کے ذریعے پیکٹ ارسال کرنے پر 17 فیصد سیلز ٹیکس لاگو
درآمدی جانوروں اور مرغیوں پر 17 فیصد ٹیکس ،
زرعی بیج، پودوں، آلات اور کیمیکل پر ٹیکس 5 فیصد سے 17،
پولٹری سیکٹر کی مشینری پر ٹیکس 7 فیصد سے 17 فیصد کردیا
ملٹی میڈیا ٹیکس بھی 10 سے بڑھا کر 17 فیصد ،
بیٹری پر ٹیکس 12 فیصد سے بڑھا کر 17 فیصد ،
ڈیوٹی فری شاپس پر 17 فیصد سیلز ٹیکس لاگو،
بڑی کاروں پر بھی 17 فیصد سیلز ٹیکس لاگو،
درآمدی الیکٹرک کاروں پر سیلز ٹیکس 5 فیصد سے بڑھا کر 17 فیصد
بزنس ٹو بزنس رقم منتقلی پر سیلز ٹیکس بڑھا کر 17 فیصد کردیا

ادویات کے خام مال پر 17 فیصد جی ایس ٹی لاگو ،
بیکریوں، ریسٹورنٹ اور فوڈ چین پر 17 فیصد سیلز ٹیکس لاگو،
کیٹررز، ہوٹلز اور بڑے ریسٹورنٹس پر ٹیکس 7.5 فیصد 17 فیصد سیلز ٹیکس لاگو ،
درآمدی سبزیوں پر 10 فیصد سیلز ٹیکس عائد ،
پیکنگ میں فروخت ہونے والے مصالحوں پر 17 فیصد سیلز ٹیکس لاگو ،
فلور ملز پر بھی 10 فیصد ٹیکس لگایا جائے عائد،
ماچس، ڈیری مصنوعات، الیکٹرک سوئچ پر 17 فیصد ٹیکس عائد،
برانڈڈ مرغی کے گوشت کے گوشت پر بھی 17 فیصد ٹیکس عائد ،
پراسس کئے ہوئے دودھ پر ٹیکس 10 فیصد سے 17 فیصد،
پیکنگ میں دہی، پنیر، مکھن، دیسی گھی اور بالائی پر ٹیکس 10 فیصد سے بڑھا کر 17 فیصد،
ڈیری کیلئے مشینری پر بھی ٹیکس شرح 17 فیصد لاگو.

Khanewal Buy&Sell Khanewal Tv Khanewal Updates Khanewal City Official

FBR WARNS AGAINST ISSUING MANUAL TAX NOTICES

Federal Board of Revenue (FBR) has warned tax officials of initiating disciplinary proceedings for issuing manual tax notices, including audit and assessment.
The FBR in an official communication sent to Large Taxpayers Offices (LTOs), Regional Tax Offices (RTOs), Corporate Tax Offices (CTOs) and Medium Taxpayers Office (MTO) that instances had been reported to the revenue board that field officers tend to issue manual notices and assessment orders.
These manual notices have created problems for the taxpayers as they preferred to file appeal and were also adversely affecting the efficiency of the field formations.
The FBR issued following instructions to the tax offices:
i. All statutory notices available in IRIS shall be issued electronically without any exception; manual issuance of notices, available in IRIS, is not allowed.
ii. All orders shall be issued electronically through IRIS; issuance of manual orders is not allowed.
iii. All Commissioners are requested to conduct periodic inspection to ensure that notices/orders are issued electronically.
Any divergence from instructions shall be viewed as inefficiency and shall entail disciplinary proceedings, the FBR said.

Mera Ghar, Mera Pakistan aur kamyab Jawan loaning ki file k liye contact kren
03002324605

انکم ٹیکس سیکشن 214A کےتحت آپکاFBR کا پروفائل 114A اپڈیٹ کروانا لازم ہو گیا ہے۔ جس میں آپ کے بینک اکاؤنٹس اور یوٹیلیٹی بلز کو انٹر کرنا لازم ہے، ورنہ کم سے کم 10000 اور ساتھ 2500 روپے یومیہ جرمانہ ہو گا۔
پروفائل اپڈیٹ کروانے کے لیے رابطہ کریں۔
0300 2324605

Sindh Revenue Board (SRB) has notified sales tax rates on services rendered by restaurants in the province.

Sindh Revenue Board (SRB) Sales tax on Restaurants revised

The SRB issued working tariff on November 01, 2020 updating rates of sales tax on services.

The SRB said that the sales tax rate shall be 13 percent on services provided or rendered by restaurants.

Exemption

Services provided by restaurants whose turnover does not exceeds 4 million rupees in a financial year. Shall be exempt from the levy of 13 percent sales tax

Pakistan Customs has launched first trade facilitation program of its kind under the name and banner of “Authorized Economic Operators” through operationalization of “AEO Pilot Project” at Karachi.
The program has been chalked out in line with best international practices and in accordance with WCO security standards. Under the program, Govt. will certify trustworthy business entities which have a clean history of compliance with national laws and, in return, a policy of non-interference will be adopted by the departments toward such entities so that they could concentrate on their growth.

AEO Program is a great step towards traders’ facilitation and ease of doing business as “red tapism” of departments will be replaced with “red carpet” for the trustworthy business entities. AEO Pilot Project is the first step that has been launch at Model Customs Collectorate of Port Mohammad Bin Qasim Karachi through inclusion of M/s Artistic Denim Mills Karachi that is a renowned manufacturer-cum-exporter of textile sector. Initially, AEO Pilot Project has been launched at export stage and gradually other areas of supply chain will be brought under the Pilot Project and eventually AEO Program will be rolled out for the facilitation of business community. The traders and various chamber associations have appreciated the AEO initiative of the Govt. and expressed that it was the first initiative of its kind which aims at recognition of trusted business partners at Government level and entails benefits from all departments.

Such unique initiative, the business community hoped, has great potential to boost export oriented businesses which are the backbone of national economy۔

What is a trade mark?

A trade mark is a legal right bestowed on any person who pre-applied for protection of his brain child business. Trade mark can be a sign, logo, symbol, word or combination of all or any of above that a person can use to distinguish their business’ goods or services from those of other traders. Once registered, trade mark is protected against any of its infringements by any person whatsoever.

Benefits of registering a trade mark

In Pakistan it is not compulsory to register a trade mark. However, without registering a trade mark same cannot be claimed and no infringement in this behalf can be established in favor of a person. If you register a trade mark in relation to your goods and/or services, you are effectively gaining a legal monopoly of your business. A trade mark can add value to your business because it can be used to protect your brand that makes you different from others in the market.

Trademark Registration Procedure in Pakistan
Trade Marks are registered and protected under Trade Marks Ordinance, 2001 in Pakistan. For a purpose of registration of Trade Mark following procedure is commonly adopted:

Application seeking nation-wide search of Trade Mark.
Filing of Trademark Application.
Preliminary Examination by Registrar of Trademarks Pakistan.
Hearing for objections from Public at Large.
Submission of material confirming Trade Mark use.
Decision on Trade Mark.
Publishing of Trademarks Journal of Pakistan.
Renewal of Trade Mark
A trademark registration in Pakistan is valid for 10 years and starts with registration date. The registration is renewable for periods of 10 years, where after the Trade Mark is to be applied afresh. It should be noted that trademark rights generally arise out of the use or to maintain exclusive rights over that sign in relation to certain products or services, assuming there are no other trademark objections.

Trade Mark Classification

In Pakistan Trade Marks are classified under 45 classifications having signatory to International Nice Classification (Agreement) based on Geneva accord executed by 75 Countries. Idea is to register Trade Mark under these classifications capable of distinguishing your goods or services from similar Trade Mark of other classified business sectors. Moreover, trade mark can conveniently be registered in more than one country under same classification to avoid complexity.

Legal statutory remedy against infringement of Trade Mark

Trade Mark having been registered, is protected under the Trade Mark Ordinance, 2001 and in terms of the said law any such person aggrieved of infringement can instantly approach Court of law for interim relief so as to restrain a person from using such Trade Mark. Moreover, a suit for damages can be filed claiming general loss arising out of falsification, counterfeit and undue advantage, as a substantial relief.

Whereas a simultaneous criminal course can also be adopted for prosecuting a person having committed an offence of infringement by lodging First Information Report (FIR) with respective police station in terms of offences mentioned under Section 478 – 489 of Pakistan Penal Code 1860.

What is Patent?

Once a patent is registered, apart from exclusive right of using the patent any other person is prevented from exploiting invention of the grantee. The patent could be used to raise funds for his business, license it to any third person for commercial returns or sell the patented invention.

A patent is a grant from government, to a person being owner of an invention for making, importing, selling and using the said invention. Said right prevents others from making, using, importing or selling the invention without his permission.

A patentable invention can be a product or a process that gives a new technical solution to a problem. It can also be a composition of a new product, or a technical improvement on how certain objects work.



Benefits of Registering Patent

Once a patent is registered, apart from exclusive right of using the patent any other person is prevented from exploiting invention of the grantee. The patent could be used to raise funds for his business, license it to any third person for commercial returns or sell the patented invention.



Procedure for Patent Registration in Pakistan

Patent Registration involves various steps to be followed till the actual grant of the patent. Following procedure needs to be followed once a company intends to register a patent in Pakistan:

Application for registration of Patent
Filing the Complete Specification of the proposed patent work
Examination by the Patent Office
Calling for public third part objections
Contesting third party objection if any
Grant of patent
Patent renewal
Patent Duration

Patent is granted for a period of 20 years from the Date of Filing of application, subject to the payment of annual renewal fees.



Patent Renewal

Patent renewal is sought every year following the expiration of 4th year till period of total of 20 years.

Register your Patent

If case you wish to register patent for your invention, we at Hamza and Hamza provide assistance in registering patents for your invention with IPO Pakistan. We are engaged by our clients in all matter pertaining to Intellectual rights including the following:

Application for registration of Patent
Filing the Complete Specification of the proposed patent work
Processing of necessary paperwork
Contesting third party objection
Patent renewal

What is Copyright?

Copyright is a legal right provided to the author of “original works of authorship,” including artistic, dramatic, literary, musical and certain other intellectual works. Purpose of protecting copyright of authorship is to guard against different forms of piracy adopted from time to time.

Which Works can be protected under copyright?

Purpose of Copyrights is to protect all “original works of authorship” against any act of piracy etc. Law of copyrights are enshrined under The Copyrights Ordinance, 1962 and includes the following works:

Musical works
Artistic works
Cinematographic Works including motion pictures
Architectural works
Books
Photographs
Newspapers
Engravings and sculptural works
Lectures
Sound Records
All types of literary works
musical works,
dramatic works
sound recordings and other audiovisual works
Computer Softwares
Copyrights Duration

Requisite application for protection of works sought to be registered is to be filed with Intellectual Property Rights Organization, Pakistan and copyrights once obtained for any work, the period of copyright of a computer software, literary, dramatic, musical or artistic work (other than a photograph) is the life of the author and 50 years thereafter. Whereas on the other hand, in case of a photograph and cinematographic including motion pictures, copyright exist for 50 years from the commencement of the calendar year since publication of the work.



Benefits of Copyrights

Copyrights protection is a legal right vested in the author and copyrights protection benefits the author in many ways including the following:

Prevent against privacy
Enables the author to file a claim in Court of law
Benefits in form of economic rights and economic awards
Control the mode of publication
Professional rating in respective market works


Legal Remedies against Infringement

Law provides both civil and criminal remedies including lodging of First Information Report against any person who knowingly infringes or abets the infringement of the copyright in a work protected under the law.

Copyrights Registration Procedure in Pakistan



Copyrights are registered and protected under The Copyrights Ordinance, 1962 in Pakistan. For a purpose of registration of Copyrights following procedure is commonly adopted:

Filing of Copyrights Application.
Processing of relevant document
Preliminary Examination by IPO Pakistan.
Hearing for objections from Public at Large.
Submission of material confirming authorship rights.
Certificate on Copyrights.


Protect your Copyrights

If you are the author of any genius work and you are desirous to protect its copyrights, we at Hamza and Hamza provide assistance in applying and protecting your precious works against all sorts of piracies. Please place your queries and we shall instantly get back to you.

ایف بی آر نے شہریوں کے اثاثہ جات کی مکمل تفصیلات کیلئے ’’ٹیکسرے‘‘کے نام سے ٹریکر ایپلی کیشن تیار کرلی
منگل 20 اکتوبر 2020 23:19

ایف بی آر نے شہریوں کے اثاثہ جات کی مکمل تفصیلات کیلئے ’’ٹیکسرے‘‘کے ..
لاہو ر(اُردو پوائنٹ اخبارتازہ ترین - این این آئی۔ 20 اکتوبر2020ء) ایف بی آر نے شہریوں کے اثاثہ جات کی مکمل تفصیلات کیلئے "ٹیکسری" کے نام سے ٹریکر ایپلی کیشن تیار کرلی۔ٹیکسرے میں شہریوں کے پلاٹس، بینک اکائونٹس، رجسٹرڈ گاڑیوں، رجسٹرڈ کاروبار اور مہنگے سکولوں میں اداکردہ فیسوں کا ریکارڈ موجود ہوگا۔ٹیکسرے میں غیرملکی دوروں سے متعلق امیگریشن ڈیٹا سمیت دیگر اہم معلومات بھی موجود ہونگی۔
ممبر آئی ٹی عاصم احمد کی زیرنگرانی ٹیکسرے ایپ چھ ماہ کے دورانیے میں تیار کی گئی ہے۔ ٹیکسرے میں شہریوں کی کسی بھی قسم کی مالی ٹرانزیکشن اور سرگرمی کا مکمل ریکارڈ ہو گا۔ بینک ٹرانزیکشن، کریڈٹ کارڈ یا مرچنڈائز مشین سے ڈیبٹ کارڈ کے ذریعے خرید وفرخت کا ڈیٹا بھی ایپ میں موجود ہوگا۔
ٹیکسرے غیر رجسٹرڈ شدہ شہریوں کا بھی مکمل ڈیٹا رکھے گی۔

ایف بی آراثاثہ جات اور مالی سرگرمیوں کے ڈیٹا بینک پر مبنی ایپلی کیشن "ٹیکسری" جلد لانچ کرے گا۔ایف بی آر کی ایپلی کیشن "ٹیکسری" قومی شناختی کارڈ نمبر سے اثاثہ جات اور دیگر مالی سرگرمیوں کا پتہ چلائے گی۔ ٹیکسرے کئی اداروں کے ڈیٹا بیس سے براہ راست معلومات حاصل کرے گی۔ ٹیکس کلکٹرز کو "ٹیکسری" تک مکمل رسائی دی جائے گی جبکہ عام صارفین "ٹیکسری" کے ذریعے صرف اپنے اثاثہ جات اور مالی سرگرمیوں کی تفصیلات دیکھ سکیں گے۔ ایف بی آر حکام کا کہنا ہے کہ ٹیکسرے کے ذریعے ٹیکس چوری روکنے میں معاونت ملے گی۔

HOW TO GET AN IMPORT/EXPORT LICENSE IN PAKISTAN ?
To start business of import and export in Pakistan requires that you have valid Weboc registration. Weboc since several year after having been introduced in 2011 has played an important role to facilitate not only traders but also custom officers and agents. Since 2011, this online system has been playing a huge role in facilitating the traders, custom officers, and agents. It has simplified the filing process and also contributed in promoting Online Goods declaration, quick clearances and fast tracking system.

It is normally perceived by traders and start-ups that custom clearance is a not just difficult but a time consuming process in Pakistan. Traders can now easily and conveniently engage in import and export business themselves in their names yet because of the above notion they hire custom agents for the job who either declare goods in his own name or in name of person who holds a Weboc license. This is notion is because of traders in Pakistan have zero or less awareness pertaining to new paradigm shift in the trading field. By the use of Weboc traders can easily make declarations of their import and export, seek clearances and get duty and taxes assessed.

One of the main benefit of having Weboc license and making import and export through own Weboc is that trader can easily show a trail of his transaction and has no problem confronting the Revenue Authority in case of audit in future. So much so, he not merely avoids being taxed for unable to prove and substantiate trail of money before revenue authorities but also generate white money for the purpose of Federal Board of Revenue.

LIST OF DOCUMENTS REQUIRED FOR WEBOC REGISTRATION FOR PRIVATE LIMITED COMPANY

Original CNIC of Directors

Original Nadra Verification receipts of Directors

Original Income Tax Certificate issued by FBR

Original Sales Tax Registration Certificate

Original Incorporation certificate from SECP

Original Memorandum and Articles of
Association attested by SECP

Form II, Form 29, Form A certified by SECP

Original Proof of Ownership or rent agreement of Business premises along with photocopy of Landlord

Latest Income tax return filed with FBR

Income Tax Active Taxpayer filing Status

Sales Tax Active Taxpayer filing Status

Valid Original Chamber of Commerce license

Latest Original Electricity bill of Business Premises

Latest Original PTCL bill on relation to Business Premises

Undertaking as per format on Stamp Paper valuing Rupee 100

Bank statement for the last six months having minimum Balance of Rs. 300,000/-

Original Bank Maintenance Certificate of the Company

Cash deposit Rs: 500/- Bank receipt (Original) or Pay order of Rs. 500 in favor of Director Custom

Personal Appearance of the Director with visiting card and Passport size Photographs.

Original Board Resolution for WEBOC ID

DOCUMENTS REQUIRED FOR REGISTRATION OF WEBOC FOR SOLE PROPRIETOR

Original CNIC of Sole Proprietor

Verification from NADRA

Original NTN Certificate issued by FBR

Original STRN Certificate issued by FBR

Documents of ownership of business premises or the rent agreement along with photocopy of CNIC of landlord

Valid Chamber Of Commerce Certificate

Active Taxpayers List status for Income Tax and Sales Tax

Utility bill of Business premises

Undertaking as Per Format on Rs. 100/- Stamp Paper

Filled Registration Form of WeBOC

Bank statement of the business account for the last six months

Bank Maintenance Certificate of the Business account

Bank receipt of Cash deposit Rs. 500/-

Personal appearance with visiting card.

Request letter for issuance of WEBOC ID on cover letter

DOCUMENTS REQUIRED FOR WEBOC REGISTRATION OF PARTNERSHIP FIRM

Original CNIC of all the Partners

Nadra verification of CNIC of all Partners

Original NTN Certificate

Original STRN Certificate

Original Partnership deed and Form C

Ownership document of business premises or rent agreement with landlord CNIC copy

Valid Chamber Of Commerce and Industries Certificate

Active Taxpayers List Income Tax and Sales Tax

Undertaking as Per Format on Rs. 100/- Stamp Paper

Filled Registration Form of WeBOC

Bank statement of the business account for the last six months

Bank Maintenance certificate of the Business account

Bank receipt of Cash deposit Rs. 500/-

The appearance of the Partner personally with the visiting card.

Request letter for issuance of WEBOC ID on official letter Head

Authority letter on the Rs. 100/- stamp paper from the other partners

How to Register NGO in Pakistan?

NGOs mean Non-Governmental Organizations which is established for the sole purpose to ensure community work and social welfare. There are numerous NGOs established in in Pakistan including national and international organizations. In Pakistan, NGOs are required to undergo registration process before initiating its operations. Considerable growth has recently been seen in the non-profit sector in Pakistan as the government has learnt the importance and value of NGO’s in the development and improving the life of citizens of Pakistan. NGOs in Pakistan in recent years have attained a lot of attention following several crises and natural disasters that occurred in Pakistan where NGOs have had engaged for the welfare of society. However, a large proportion of the NGOs are informal and unregistered with any government agency.

NGO registration in Pakistan is not difficult but can become confusing. This article is focused on providing the guidelines on how to register NGO in Pakistan and what are the various factors influencing this process are provided for understanding. If you are looking forward to participate in the welfare of the society or a group of people affected by some crises or disaster etc. and you have group of people accompanied having a similar object than you should opt to register NGO in Pakistan.

How to Register NGO in Pakistan

The laws regulating the business and framework of NGO and its registration is different from entity that works for profit in Pakistan. NGO can be registered under different’s law and can function in consonance to the different set of provisions provided for in those laws. Different laws under which NGO can be registered in Pakistan are as follow:

>The Companies Act, 2017

>The Voluntary Social Welfare Agencies (Registration & Control) Ordinance, 1961

>The Societies Registration Act, 1860

>The Trust Act, 1882

COMPANY NOT FOR PROFIT UNDER COMPANIES ACT, 2017
Limited Company purpose of which is not profit can be registered under section 42 of the Companies Act, 2017 with Security Exchange Commission of Pakistan. A non- profit association under the umbrella of Limited Company can be either an organization formed for the purpose of serving public or for mutual benefit of certain group or class of people. The main objects of such company as required is for promoting commerce, art, science, religion, sports, social services, charity or any other useful object, and intends to apply its profits or other income in promoting its objects. In order to register an association for non-profit under Act 2017, the very first step is to obtain License from SECP. Application can be processed both online and offline, however, SECP promotes filing online applications and allow 50% reduction in the filing fee to any person applying through online process. It is important to note that at the time of applying for license 2 important factors are the name and object of the Association. After the name and object has been approved and License has been granted, second step requires to apply for registering the Association. Detail of members, their resume showing their experience etc are to be provided to SECP in the prescribed manners.

DOCUMENTS REQUIRED FOR NGO REGISTRATION UNDER THE COMPANY ACT, 2017

Apply for availability of name

Bank challan of Rs. 25,000 for registration

Bank challan of Rs. 25,000 for license

List of Promoters of the Association with their detailed particulars

Scanned Cnic of Promoters

Detail of NGO and other entities in which promotor holds or previously held a position.

Undertaking from each promoter for payment of initial donation in the Association

There must be atleast 3 promoters of the company who must have sufficient skills, expertise and resources to accomplish object of the proposed company

Mission statement and statement of work to be done under the company

Provide estimate / projections of the future incomes

Resume of promoters

THINGS TO BE MAINTAIN

Audit Reports, projects completed, projects under process, bank accounts and list of office bearers / members along with contact numbers must be provided to Register every year.

Article of Association signed by minimum three Office Bearers or the as the case may be.
Patronage of any government or authority, express or implied, shall not be claimed unless such government or authority has signified its consent thereto in writing.

The company shall not engage in industrial and commercial activities in any manner or function as a trade organization.

The income and any profits of the company, shall be applied solely towards the promotion of objects of the company only and not to its promoters by any means whatsoever.

The company shall comply with all terms and conditions imposed by law or by regulator.

VOLUNTARY SOCIAL WELFARE AGENCIES (REGISTRATION AND CONTROL) ORDINANCE, 1961
A voluntary social welfare agency is registered under the Voluntary Social Welfare Agencies (Registration and Control) Ordinance, 1961. It is an entity, association or undertaking established by persons of their own free will for the purpose of rendering welfare services in any one or more of the following fields:

Child welfare
Youth welfare
Women Welfare
Welfare for mentally and physically handicapped
Family planning
Recreational programmes intended to keep people away from anti-social activities
Social education aimed at developing sense of responsibility among people
Welfare and rehabilitation of released prisoners
Welfare of juvenile delinquents
Welfare of the socially handicapped
Welfare of the beggars and destitute
Welfare and rehabilitation of patients
Welfare of the aged and infirm
Training in social work
Co-ordination of social welfare agencies
Such entity registered under the law in any of the above field is depending for its resources on public subscription, donations or Government aid. The law provides that that no voluntary Social welfare agency can be established without registration and provide a procedure for registration, dissolutions, remedy of appeal for refusal to grant registration and penalty for violation of the conditions imposed in the law.

DOCUMENTS REQUIRED FOR NGO REGISTRATION UNDER VOLUNTARY SOCIAL WELFARE AGENCIES ORDINANCE, 1961

The constitution of the Agency
Form B signed

Attested cnic copies of all members

The 1st minute of meeting of the members of Agency

Registered address of the Agency along with

Correspondence email address,

Correspondence telephone and Website of Agency.

Letterhead of the Agency stamped and sealed

Office bearers list with mobile number

Member list of general body along with contact numbers and valid email addresses of all members

Property papers or lease agreement of the office premises

THE SOCIETIES REGISTRATION ACT, 1860

Societies which are registered under The Societies Registration Act, 1860 are Charitable societies, societies established for the promotion of science, literature, or the fine arts, for instruction, the diffusion of useful knowledge [the diffusion of political education], the foundation or maintenance of libraries or reading rooms for general use among the members or open to the public, or public museums and galleries of painting and other works of art, collections of natural history, mechanical and philosophical inventions, instruments, or designs. Minimum seven (7) members are required to join for the purpose to register a society under the Act, 1860. Society under the law can be registered by giving an application for registration on the prescribed form and in prescribed manner to the Registrar of Societies.

DOCUMENTS REQUIRED FOR NGO REGISTRATION UNDER SOCIETIES ACT 1860

The Memorandum of Association

The Articles of Association

Attested cnic copies of all members of organization

The 1st minute of meeting of Members of Society

Registered address, Correspondence email address, Correspondence telephone and website address of Society.

Application for registration must be given on Letterhead accompanied by prescribed forms available at office of Registrar Societies.

The office bearers list with mobile number signed by each office bearer

Members list of Society along with contact numbers, valid email addressess of all members

Property papers or lease agreement of the office premises

THE TRUST ACT, 1882

A public charitable trust can be created for the benefit of society or for certain sections of society. Important to note that Trust and Waqf may seem similar but in Waqf is made for religious purposes while Trust is created to give benefit to general or certain class of people in society. Trust property vests in Trustees, but waqf property vests in Almighty Allah. The purpose of a trust is considered lawful unless it is (a) forbidden by law, or (b) is of such a nature that, if permitted, it would defeat the provisions of any law, or (c) is fraudulent, or (d) involves or implies injury to the person or property of another, or (e) the Court regards it as immoral or opposed to public policy. Trust can be of Movable or Immovable property as the case may be yet there are condition to be complied without which the trust under the Act 1882 is declared to be considered void. Act provides rights, obligations, duties of parties in Trust including that of Trustee and beneficiary. Trust can be permanent or for a specific period of time depending on the terms and condition of Trust deed as may be executed.

DOCUMENT REQUIRED FOR NGO REGISTRATION UNDER THE TRUST ACT, 1882

Trust deed provides the detail of properties, objectives & other details with reference to Trust
Particulars of documents creating the trust
Detail particulars of the trustees and the beneficiaries
Ownership proof along with other documents to prove ownership of property.

Clause 133 regarding IT

Documents Required for Income Tax Return-2020 for Business

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The Securities and Exchange Commission of Pakistan (SECP) has directed the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan (ICMAP) to make it mandatory for their accountant members to adopt a risk-based approach for monitoring of their clients/customers (reporting entities) for checking any suspicious activity of money laundering.
The SECP has issued SRO 919 (I)/2020 to notify the "Oversight Regulations for Self Regulatory Bodies of Accountants, 2020".
The "Oversight Regulations for Self Regulatory Bodies of Accountants, 2020" are first of its kind of regulations which are issued for the "Chartered Accountants" and "Management Consultants".
According to the SECP, the "Self-Regulatory Bodies or "SRB" (ICAP/ICMAP) shall identify, assess and understand the money laundering/terrorist financing risks to which that SRB's reporting entities are subject and adopt a risk-based approach to the exercise of its supervisory functions as informed by the national risk assessments and the risk assessment carried out by the SRB itself.
Every SRB shall under AML Act, introduce regulations pertaining to risk assessment, mitigation and applications of a risk- based approach; customer due diligence requirements; including but not limited to requirements to identify and verify customers, beneficial owners and requirements to conduct ongoing monitoring; requirements to apply enhanced customer due diligence measures, including with respect to politically exposed persons; internal controls requirements; training and capacity building requirements; duty to co-operate with competent authorities; targeted financial sanction (TFS) requirements; risk assessment and mitigating requirement for new products, practices and technologies; requirements on reliance on third parties; record-keeping requirements and countermeasures requirements, new regulations said.
Every SRB shall appoint a person to monitor and manage the its compliance with its duties under the Act and Regulations made there under, who shall cooperate with authorities and ensure that the SRB responds to any request from any AML/CFT regulatory authority about any reporting entity; keep and maintain a record in writing of the actions it has taken in the course of performing its functions; monitor and supervise compliance with the requirements of the regulations including ensuring that reporting entities have adequate policies, controls and procedures to implement those requirements in line with the ML/TF risks;
Each SRB shall conduct ongoing outreach to reporting entities to promote a clear understanding of their AML/CFT and TFS obligations and ML/TF risks, rules said.
The functions of Oversight Body (SECP) revealed that the Oversight Body may require any information provided under this regulation to be provided in such form as it may reasonably require. Where the oversight body requires information to be provided or documents to be produced, the notice must set out the reasons why the authority requires the information to be provided or the documents produced, unless the SRB is not permitted to disclose this information, regulations stated.
The Oversight Body shall monitor the SRB's compliance with its powers and functions. The Oversight Body has the authority to order an examination or investigation into the SRB's activities as set out.
The Oversight Body can appoint a skilled Person to investigate the matter and the Oversight Body can impose charges on SRB for expenses incurred by the Oversight Body in relation to an appointment of skilled person.
Any SRB who contravenes or fails to comply with any provision of these regulations shall be liable to a sanction in accordance with the AML/CFT Sanctions Rules, 2020 issued under the AML Act and imposed by the Oversight Body according to sub-section (c) of section 6Cof the AML Act, SECP added.