ISLAMABAD: The last date for filing income tax return for the tax year 2021 may be extended as an online portal of the Federal Board of Revenue (FBR) was remained disturbed last month. The FBR system was not working for 10 days during the last month, said Shaukat Tarin at a press conference on Tuesday. […]
ISLAMABAD: The Federal Board of Revenue (FBR) has said that the alternate facility of making the payment over the counter (OTC) still allowed simultaneously along with the Alternate Delivery Channel (ADC) channel till September 30, 2021, so that no inconvenience is caused to the individual taxpayer for seamless filing of returns. FBR has launched single […]
Section 175 of Income Tax Ordinance, 2001 authorized officials of Federal Board of Revenue (FBR) to enter any premises of taxpayers for search and take possession of records. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the […]
Section 174 of Income Tax Ordinance, 2001 explains the taxpayers must maintain records in form of accounts or documents, of past six years. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section 174 of Income […]
Section 173 of Income Tax Ordinance, 2001 explains the liability and obligations of representatives. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section 173 of Income Tax Ordinance, 2001: 173. Liability and obligations of representatives. […]
Section 172 of Income Tax Ordinance, 2001 has allowed representation on behalf of taxpayers to deal with tax matters during a tax year. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section 172 of Income Tax […]
Section 171A of Income Tax Ordinance, 2001 outlined that Income tax bonds to be issued for refund payment.
Section 171 of Income Tax Ordinance, 2001 explains KIBOR (Karachi Interbank Offered Rate) plus additional amount to be paid for delayed refunds.
The Federal Board of Revenue (FBR) has taken a significant stride towards enhancing efficiency and convenience for taxpayers by introducing electronic processing and issuance of income tax refunds under Section 170A of the Income Tax Ordinance, 2001.
Section 170 of Income Tax Ordinance, 2001 explains the procedure for claiming an income tax refund. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section 170 of Income Tax Ordinance, 2001: 170. Refunds.— (1) A […]