The tax registration is key for filing income tax rates. The taxpayers should know about the required information for the tax registration.
KARACHI: The last date for filing income tax return for tax year 2021 is September 30, 2021. The FBR has decided not to extend the last date beyond the cutoff date. The FBR opened the IRIS portal on July 01, 2021 to start the income tax return filing for tax year 2021. As per law […]
ISLAMABAD: A statement of wealth is mandatory for filing annual income tax return, which should include details of total assets and liabilities. The FBR has opened the IRIS portal for filing income tax return for tax year 2021 for taxpayers including salaried persons, business individuals, Association of Persons (AOPs) and companies have special tax year. […]
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday said it has received 3.01 million income tax returns for tax year 2020 till June 30, 2021. “FBR’s efforts to broaden the tax base are expanding apace. Early signs suggest such efforts are bearing fruits,” it said in a statement. As on June 30, 2021, income tax […]
KARACHI: The Federal Board of Revenue (FBR) on Thursday launched its IRIS portal for filing income tax returns for tax year 2021. Filing of a return of income is mandatory under Section 114 of the Income Tax Ordinance, 2001. Section 114: Return of income. — (1) Subject to this Ordinance, the following persons are required […]
ISLAMABAD: Unlike past practice of delayed opening of income return filing, the Federal Board of Revenue (FBR) has opened the IRIS portal for filing annual return of income for tax year 2021 from July 01, 2021. The taxpayers can login with their ID and password to the IRIS portal of the FBR and file their […]
ISLAMABAD: Finance Minister Shaukat Tarin on Friday announced to restore Universal Self Assessment Scheme (USAS) in actual form to facilitate tax return filers. While presenting federal budget 2021/2022, the finance minister said that the lynchpin of economic policy would be resource mobilisation, especially tax revenues. We plan to fundamentally restructure the taxation regime and working […]
ISLAMABAD: The Federal Board of Revenue (FBR) has received 2.93 million income tax returns for tax year 2020 by end of May 2021. According to statement issued on Wednesday, the FBR said in an effort to broaden the tax base the income tax return filing increased significantly. As on May 31, 2021, income tax returns […]
ISLAMABAD – The Federal Board of Revenue (FBR) announced on Saturday that the number of returns filedfor the tax year 2020 has surged to around 2.9 million as of May 01, 2021, marking a substantial growth of 12 percent compared to the same period last year.
ISLAMABAD: Pakistan Tax Bar Association (PTBA) has informed the Federal Board of Revenue (FBR) that a large number of taxpayers who have file returns but their names are not on the new Active Taxpayers List (ATL), which was issued on March 01, 2021 for tax year 2020. The PTBA in a letter to FBR chairman […]