Section 176 of Income Tax Ordinance, 2001 explains that the commissioner is empowered to call for any 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 text of Section 176 of Income Tax Ordinance, 2001: 176. Notice […]

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.