Commissioners IR to issue amended assessment order in 120 days

ISLAMABAD: Commissioners Inland Revenue have been bound to issue order in amended assessment within 120 days under Section 122 of Income Tax Ordinance, 2001. According to budget 2021/2022 documents, the Finance Bill 2021 proposed amendment Section 122 of the Income Tax Ordinance, 2001. The amendment proposed through Finance Bill 2021 in sub-section (9), for the […]

by Mrs. Anjum Shahnawaz

Income Tax Ordinance, 2001: Commissioner IR can issue assessment order on day return filed

Jan 14

Taxation

Income Tax Ordinance, 2001: Commissioner IR can issue assessment order on day return filed

The Federal Board of Revenue (FBR) in Pakistan has granted the Commissioner Inland Revenue the authority to issue assessment orders against a tax return on the very date it is filed.

by Mrs. Anjum Shahnawaz