Nov 22

FBR extends date for providing deemed property income details till December 31

ISLAMABAD: Federal Board of Revenue (FBR) has extended the date for providing details of deemed income of immovable property up to December 31, 2022, where annual returns have already filed. In this regarding the FBR issued SRO 2052(I)/2022 on November 22, 2022 to introduce draft amendments to Income Tax Rules, 2002. Through the draft rules, […]

by Anjum Shah

FBR may extend return filing date due to political unrest, floods, IRIS errors

Oct 30

National, Taxation, Top stories

FBR may extend return filing date due to political unrest, floods, IRIS errors

KARACHI: Federal Board of Revenue (FBR) may further extend the last date for filing income tax returns for tax year 2022. The FBR has already given one date extension from September 30, 2022 to October 31, 2022. Previously, the FBR extended the date on the complaints from the stakeholders that many errors on the IRIS […]

by Faisal Shah

KCCI demands one month date extension for return filing

Oct 29

Taxation, Trade & Industry

KCCI demands one month date extension for return filing

Karachi Chamber of Commerce and Industry (KCCI) on Saturday urged the Federal Board of Revenue (FBR) to extend the last date for filing income tax return up to November 30, 2022 from existing October 31, 2022 In a letter to FBR chairman, Asim Ahmed, the president of KCCI, Mohammed Tariq Yousuf demanded for the increase […]

by Faisal Shah

Calculating property valuation uphill task in completing tax return: Rehan Jafri

Oct 29

Taxation

Calculating property valuation uphill task in completing tax return: Rehan Jafri

Calculating valuation of immovable property for deemed income under Section 7E of the Income Tax Ordinance, 2001 is remained an uphill task in completing income tax return for tax year 2022. Syed Rehan Hasan Jafri, President, Karachi Tax Bar Association (KTBA) expressed these views while talking to PkRevenue.com. He said that only couple of days […]

by Faisal Shah

PTBA seeks clear 90 days for return filing after making portal error free

Oct 28

Taxation, Top stories

PTBA seeks clear 90 days for return filing after making portal error free

Pakistan Tax Bar Association (PTBA) has demanded the tax authorities of providing clear 90 days for return filing from the date when the portal is error free. In a letter sent to Asim Ahmad, chairman, Federal Board of Revenue (FBR) on Friday, the PTBA requested that the taxpayers be provided the statutory period of clear […]

by Anjum Shah

KTBA demands perfect tax return form before setting filing deadline

Oct 27

National, Taxation, Top stories

KTBA demands perfect tax return form before setting filing deadline

Karachi Tax Bar Association (KTBA) has lambasted the tax authorities for many unresolved issues pertaining to the return of income for the tax year 2022 for which the last date is October 31, 2022. KTBA President Syed Rehan Hasan Jafri in a letter to the chairman of Federal Board of Revenue (FBR) on Thursday pointed […]

by Faisal Shah

FPCCI seeks statutory time for return filing after error removals

Sep 26

Taxation, Trade & Industry

FPCCI seeks statutory time for return filing after error removals

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the apex trade body of the country, has urged the tax authorities to give statutory time for filing tax return after removing all errors in the return form. “Proper legal time for compliance should be granted as per the statute after resolving all problems in […]

by Faisal Shah

Last date for filing tax return is September 30, FBR reminds

Sep 11

National, Taxation, Top stories

Last date for filing tax return is September 30, FBR reminds

ISLAMABAD: The Federal Board of Revenue (FBR) on Sunday reminded that the last date for filing income of return for tax year 2022 is September 30. In order to ensure return filing by due date, the tax authority launched massive awareness campaign The FBR said: “Like every year before, the FBR launched a comprehensive awareness […]

by Anjum Shah

Tax Return becomes invalid on depriving refund adjustment: PTBA

Aug 25

Taxation, Top stories

Tax Return becomes invalid on depriving refund adjustment: PTBA

KARACHI: Pakistan Tax Bar Association (PTBA) has declared that deletion of column to deny refund adjustment made the income tax return invalid. In a letter sent to Asim Ahmed, Chairman, Federal Board of Revenue (FBR) on Thursday, the PTBA apprised about the burning issue due to which the legal fraternity, taxpayers and other stake holders […]

by Hamza Shah

FBR notifies companies return forms for tax year 2022

Jul 4

Taxation

FBR notifies companies return forms for tax year 2022

ISLAMABAD: The Federal Board of Revenue (FBR) has notified income tax return forms for companies for tax year 2022. The FBR issued SRO 978(I)/2022 dated June 30, 2022 to notify the tax return forms. The companies having special tax year are required to file their annual return of income for tax year 2022 up to […]

by Anjum Shah