KARACHI: The income tax law has empowered a commissioner Inland Revenue to make provisional assessment where a concealed asset of a person impounded by any government agency.Read More
KARACHI: A commissioner of Inland Revenue has been empowered to alter annual income tax return of a person on detection of tax evasion or avoidance.
KARACHI: Commissioners of Inland Revenue have been empowered to make ‘best judgement assessment’ for taxpayers, who fail to file annual returns, for making payment of due taxes.
KARACHI: A commissioner of Inland Revenue is required to send notice to taxpayers for incomplete annual income returns within 180 days from end of financial year in which return was filed.
KARACHI: The due date for filing annual income tax return has become important Since Federal Board of Revenue (FBR) imposed restriction of denying late filers into Active Taxpayers List (ATL).
KARACHI: Sindh Revenue Board (SRB) on Thursday suspended sales tax registration of a logistic company for depositing short payment.
ISLAMABAD: Income tax return filers are entitled to various tax reductions, rebates and credits while declaring their income for a tax year, according to a facilitation guide of Federal Board of Revenue (FBR).
KARACHI: A taxpayer is required to submit wealth statement along with annual income return. Federal Board of Revenue (FBR) recently updated Income Tax Ordinance, 2001 and explained the requirement of wealth statement under Section 116….
KARACHI: The investment in unregistered prize bonds has increased by 17 percent to Rs922.78 billion by month-end of December 2018 as against ending stock of Rs788.4 billion in the same month a year ago, according…
ISLAMABAD: Federal Board of Revenue (FBR) has explained the inclusion into Active Taxpayers List (ATL) for availing reduced rates of withholding tax and other benefits.
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday notified elimination and reduction of regulatory duties on import of various raw materials used by manufacturing sector.
KARACHI: Federal Board of Revenue (FBR) has explained requirement of filing income tax returns by persons and corporate entities.