Income tax bonds to be issued for refund payment
Section 171A of Income Tax Ordinance, 2001 outlined that Income tax bonds to be issued for refund payment.
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.
Section 170 of Income Tax Ordinance, 2001 explains the procedure for claiming an income tax refund. 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 170 of Income Tax Ordinance, 2001: 170. Refunds.— (1) A […]
Section 169 of Income Tax Ordinance, 2001 explains the final tax regime under the income tax ordinance.
Section 168 of Income Tax Ordinance, 2001 describes the provisions for claiming tax credit against paid amount.
The Income Tax Ordinance, 2001, has introduced Section 167, which outlines the concept of indemnity.
Section 166 of Income Tax Ordinance, 2001 explained that tax recovery shall be first from a person in the estate of liquidation or bankruptcy. 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 […]
Section 165B of Income Tax Ordinance, 2001 makes it mandatory for financial institutions, including banks, to furnish transaction details of non-residents or other reportable persons to the Federal Board of Revenue (FBR).
Section 165A of Income Tax Ordinance, 2001 has made it mandatory for banks to provide details of cash deposits and cash withdrawals to the tax authorities. 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 […]