Filing annual tax return made mandatory for FTR taxpayers

ISLAMABAD: The filing of annual income tax return has been made mandatory for taxpayers falling under Final Tax Regime (FTR). The Finance Bill, 2020 has proposed amendment to Section 114 of Income... Read more »

Process for automated scrutiny of income tax returns introduced

ISLAMABAD: An automated scrutiny of income tax returns has been introduced to Income Tax Ordinance, 2001 through Finance Bill, 2020. For this purpose a new sub-section 2A has been inserted to Section... Read more »

Above 120,000 income tax returns added to ATL during lockdown

ISLAMABAD: The tax authorities have received above 120,000 income tax returns since launch of new Active Taxpayers List (ATL) on March 01, 2020 and during ongoing lockdown to prevent spread of coronavirus,... Read more »

Return, wealth statement be made mandatory for Rs2 million turnover in banking system

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has suggested that persons having annual turnover of Rs2 million through bank accounts should require filing annual returns and wealth statement. The OICCI... Read more »

FBR receives 20,000 tax returns in one week

ISLAMABAD: Around 20,000 taxpayers have filed their annual income tax returns during one week after expiry of filing date. Read more »

People can file their returns after due date for appearance in ATL: FBR

KARACHI: People can still file their annual income tax returns after due date for appearing on the Active Taxpayers List (ATL) after paying default surcharge. Read more »

FBR launched crackdown against 300,000 non-filers

ISLAMABAD: Federal Board of Revenue (FBR) has launched crackdown action against around 300,000 non-filers of annual returns for tax year 2019. Read more »

FBR launches new Active Taxpayers List; return filing grows by 58%

ISLAMABAD: Federal Board of Revenue (FBR) on Sunday launched the new Active Taxpayers List (ATL) for Tax Year 2019 enabling taxpayers to avail reduced rate of withholding tax till March 2021. Read more »

FBR receives 2.45 million returns for TY2019, no date extension

ISLAMABAD: Federal Board of Revenue (FBR) has received 2.45 million income tax returns for tax year 2019 till evening of February 28, 2020, which is the last date for filing the returns. Read more »

FBR to initiate action against non-filers after date expiry

KARACHI: Federal Board of Revenue (FBR) to initiate proceedings against persons failed to file income tax returns for tax year 2019 after expiry of return filing date i.e. February 28, 2020. Read more »