Karachi, August 16, 2024 – The Federal Board of Revenue (FBR) has rolled out comprehensive guidelines to assist taxpayers in fulfilling their income tax obligations, emphasizing the importance of timely payments as a national duty.
Taxpayers are advised to log into the e-File system through the FBR portal, utilizing the same credentials used for the Iris system. Upon successful login, users should navigate to the “e-Payments” tab, which serves as the gateway to creating an income tax payment slip.
To initiate the process, taxpayers should follow these steps:
1. Access the e-Payments Tab: After logging in, click on the “Create Payment” option under the e-Payments tab.
2. Select Income Tax Annual Return: This option will lead you to the Income Tax e-Payment page.
3. Generate Payment Slip (PSID): On the e-Payment page, taxpayers need to:
o Choose the relevant tax year.
o Enter the amount of tax due.
o Select the preferred mode of payment.
o Click the “Create” button at the bottom of the page.
Once these steps are completed, the e-Payment slip (PSID) is successfully generated. Taxpayers can choose their nearest city from a drop-down list to determine where the payment slip will be deposited. The PSID can then be printed and deposited at any National Bank of Pakistan (NBP) or State Bank of Pakistan (SBP) branch in the selected city.
The FBR has also made available manuals for detailed directions on how to make e-payments. After the tax payment is made, a Computerized Payment Receipt (CPR) is generated within 24 hours and reflected in the Iris system.
Payment Deadlines and Penalties
The FBR reminded taxpayers that income tax payments must be made on or before the designated due date. Failure to meet this deadline will result in penalties, default surcharges, or both. Non-compliance can lead to severe consequences, including a fine or imprisonment for up to one year, or both.
Alternative Payment Channels
To enhance convenience, the FBR has also introduced Alternate Delivery Channels (ADC) for tax payments. Taxpayers can utilize ATMs and internet banking services to make their payments. A user guide is available for those opting to use ADCs, ensuring a smooth payment process.
Surcharge Payment for Active Taxpayers List (ATL)
For those who missed the Income Tax Return deadline for Tax Year 2020, a surcharge payment option under Section 182(A) of the Income Tax Ordinance 2001 is available. Taxpayers can pay the surcharge by selecting the “Misc” head in the PSID. Only after the surcharge payment will the taxpayer’s name be included in the Active Taxpayers List (ATL).
The FBR’s clear and detailed guidelines aim to simplify the tax payment process, encouraging compliance and ensuring that all taxpayers fulfill their obligations efficiently.
