Taxpayers filing late returns may face daily penalties, although the applicable amount can be reduced for returns submitted within three months.
(more…)Tag: income tax return
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FBR prescribes foreign income and asset thresholds for TY 2026 tax returns
Resident individuals meeting specified overseas income or asset limits must submit a Foreign Income and Assets Statement with their annual tax return.
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Taxpayers must file wealth reconciliation statement with TY 2026 income tax return: FBR
Resident individuals and AOP members required to submit wealth statement and reconciliation; incomplete returns may be treated as invalid
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FBR exempts certain individuals from filing income tax returns for TY 2026
Section 115 provides limited exemption for widows, orphans, disabled persons and certain non-residents where the filing obligation arises solely from ownership of specified assets.
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Taxpayers face utility, SIM and travel restrictions for failure to file tax returns
Section 114B empowers the FBR to impose enforcement measures on eligible non-filers after due legal process.
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FBR specifies documents required with tax year 2026 income tax returns
Electronic filing through the IRIS portal remains mandatory, while companies must submit financial statements in a machine-readable format.
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FBR makes tax return filing mandatory for wider range of taxpayers for TY 2026
New filing rules extend tax return obligation to property owners, vehicle owners, registered professionals and other specified taxpayers.
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FBR explains taxpayer registration as income tax return filing 2026 begins
Tax authority urges individuals, companies and AOPs to complete IRIS e-enrolment before filing annual income tax returns
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FBR opens tax return filing portal for tax year 2026 from July 27
Taxpayers can submit annual returns through the IRIS portal as FBR urges timely and accurate compliance before the September 30 deadline
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Active taxpayers in Pakistan reach record 8.30 million after Finance Act 2026
Higher surcharges for late filers under the Finance Act, 2026 drive a record increase in the Federal Board of Revenue’s Active Taxpayers List.
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