Section 206 of Income Tax Ordinance, 2001 has explained the powers of the Federal Board of Revenue (FBR) to issues circulars for tax authorities. However, these circulars shall not be binding on a taxpayer. 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 … Continue reading FBR’s circulars may not binding on taxpayers