Tag: income tax refund

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday processed first batch of income tax refund payment through automated system. Member IR (Operations) inaugurated Centralized Income Tax Refund Office (CITRO) by processing the first batch of income tax refund claims for payment through dedicated VPN tunnel established between FBR and State Bank of Pakistan (SBP). This […]

ISLAMABAD: Federal Board of Revenue (FBR) on Friday implemented the rules for electronic issuance of income tax refunds. The FBR issued SRO 214(I)/2021 to make amendments in Income Tax Rules, 2002. Previously, the FBR issued SRO 175(I)/2021 on February 10, 2021 inviting suggestions on the draft rules. According to the rules, a Centralized Income Tax […]

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday introduced rules for making payment of income tax refunds directly to taxpayers’ bank account. The FBR issued SRO 175(I)/2021 dated February 10, 2021 to notify draft amendments to Income Tax Rules, 2002. According to the draft rules, a Centralized Income Tax Refund Office (CITRO) would be established […]

ISLAMABAD: Federal Board of Revenue (FBR) has started processing income tax refunds for the tax year 2020 and issued instructions in this regard. The FBR issued a notification to all the chief commissioners of tax offices stating that payment of refunds or adjustment of refund have identical financial impact for the exchequer and therefore, both […]

In a significant move aimed at streamlining and modernizing tax refund processes, the Federal Board of Revenue (FBR) has ceased the manual processing of income tax refunds.

ISLAMABAD: Federal Board of Revenue (FBR) on Friday started payment of income tax refunds directly to the bank accounts of those taxpayers who have provided their IBAN. FBR sources said that the FBR had received Rs10 billion from the finance division for the payment of income tax refunds. The FBR issued cumulative up to Rs5 […]

ISLAMABAD: Federal Board of Revenue (FBR) has discontinued manual issuance of income tax refunds with immediate effect to ensure transparency. The release of income tax refunds will be carried out electronically, said an office order of the FBR dated May 29, 2020. The FBR is going to disburse income tax refunds directly to bank accounts […]

KARACHI: Only those taxpayers have been allowed to claim income tax refunds, who filed their income tax returns electronically, officials at Federal Board of Revenue (FBR) said. Refund can be only claimed if the person has filed their income tax return electronically. A manual Return does not entitle you to a refund, the officials said. […]

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday launched video tutorial for claiming income tax refund, which is paid as excess amount or paid as withholding tax. The FBR issued the tutorial in order to facilitate compliant taxpayers who paid additional amount of tax as withholding while making various types of transactions. There are number […]