Tag: audit
Self assessment scheme to facilitate taxpayers: Tarin
KARACHI: Finance Minister Shaukat Tarin on Friday said that the Universal Self Assessment Scheme (USAS) has been reintroduced. This scheme will facilitate taxpayers in declaring income and assets. He was […]
Third party to conduct audit of 15 million potential taxpayers: Shaukat Tarin
ISLAMABAD: Finance Minister Shaukat Tarin on Tuesday said that the government has decided to introduce the Universal Self-Assessment for engaging a third party approach to conduct the audit of 15 […]
Procedure issued for income tax e-audit
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issued procedure for selection and conducting electronic audit of income tax cases. In this regard, the FBR issued SRO 835(I)/2021 dated June […]
KTBA welcomes withdrawal of audit notices
KARACHI: Karachi Tax Bar Association (KTBA) on Friday said that after intervention of the Federal Board of Revenue (FBR) many audit cases have been withdrawn from IRIS Portal, which were […]
Third party to conduct tax audits: Shaukat Tarin
KARACHI: Finance Minister Shaukat Tarin has announced that tax audits to be done by third party. Further it has been decided to launch universal self assessment scheme (USAS). “I want […]
FBR notifies rules for implementing e-audit
ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday issued draft rules for implementation of online audit (e-audit) proceedings, which is aimed at facilitating taxpayers for attend hearing without going […]
IR offices issuing incorrect audit notices to avoid time limitation: KTBA
KARACHI: The offices of Inland Revenue are issuing incorrect audit notices in order to avoid restriction of time limit as defined in the Income Tax Ordinance, 2001, tax practitioners alleged […]
SBP updates panel of chartered accountancy firms for audit of banks
KARACHI: State Bank of Pakistan (SBP) has updated the list of panel of chartered accountancy firms for conducting audit of banking companies. The SBP through a circular issued on Friday […]
Criteria for selection, conduct of income tax audit
Islamabad: The Federal Board of Revenue (FBR) has adopted a criteria for selection and conduct of income tax audit under Section 214C of the Income Tax Ordinance, 2001. The criteria […]
FBR directs conducting audit to cross match turnover
ISLAMABAD: Federal Board of Revenue (FBR) has directed field offices to conduct desk audit of returns filed for tax year 2020 to cross match turnover for avoiding misuse/mis-declaration. The FBR […]