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Lecture 3: Introduction to Management by Mahwish Tariq

Management is both art and science.
Science is an organized body of knowledge which contains certain universal truth
Art are certain skills which are personal possessions of managers.
Management is getting work done through others keeping Efficiency and Effectiveness.
Efficiency is do the thing right and effectiveness is doing the right thing.
Organization is a system which operates through human activity. Complex social formations and have
defined structure.
Organizational Assets: 1. Human Resource, 2. Financial Resources, 3. Physical Resources, 4. Information
Resources and 5. Managers (Manage Resources to meet its goal.)
Managers are Responsible for 1. Supervising, 2. Motivating and 3. Directing the employees to the progress
of an organization.
Importance of Management: 1. helps in achieving the organizational goals. 2. Ensures coordination. 3.
Directs group efforts towards achievement.
Factors of Management, 1. Productivity, 2. Effectiveness and 3. Efficiency.
Productivity: Output-Input ratio within a time period with due consideration for quality.
Effectiveness: It is the achievement of objectives.
Efficiency: It is the achievement of the ends with the least amount of resources.
Lecture 4: WHT & DDO Role by Mudassar Shahzad
Tax is the price for living in a civilized society.
Budget 2021-22, Total Budget 8.4 Trillion, 5.8 Trillion FBR Revenue, Deficit: Rs3.5 trillion, Debt:
US$115.7 billion (external),
Charging: Income tax is a tax based on the quantum of income earned by a tax payer during a Tax Year.
Tax rates and method of calculating income tax varies with the status of the tax payee.
Status & Types of Tax Payers: 1. Individuals (Salaried and Others), 2. Business Entities
(Proprietorships, AOPs and Companies), 3. Other Organizations obliged to work as Withholding Tax
Agents
Collection: 1. Annual Collection (Through Annual Returns),2. Advance Tax (Paid quarterly on the basis of
last year income/turnover for businesses), 3. Withholding Tax (WHT) Regime (Transaction based tax
collection through withholding agents)
Tax Payer: taxpayer” means any person who derives an amount chargeable to tax under this Ordinance,
and includes —
(a) any representative of a person who derives an amount chargeable to tax under this Ordinance;
(b) any person who is required to deduct or collect tax under Part V of Chapter X [and Chapter XII;] or
(c) any person required to furnish a return of income or pay tax under this Ordinance;
Taxable income.—The taxable income of a person for a tax year shall be the total income 1[under clause
(a) of section 10] of the person for the year reduced (but not below zero) by the total of any deductible
allowances under Part IX of this Chapter of the person for the year.
Deductible allowances: Zakat, WWF, WPF, Profit on debt, Education Expenses