FBR urged to allow time extension making audit notice compliance

Jun 27

Taxation

FBR urged to allow time extension making audit notice compliance

KARACHI: Pakistan Tax Bar Association (PTBA) has urged the tax authorities to allow time extension to taxpayers for making compliance in audit notices of tax year 2014. In a letter sent to Ms. Nausheen Javaid Amjad, Chairperson, Federal Board of Revenue (FBR) on Friday, the PTBA urged to grant an extension of time under Section […]

by Mrs. Anjum Shahnawaz

Tax officials’ power to select income tax return for audit should be withdrawn

Jun 8

Budget 2020-2021, Taxation

Tax officials’ power to select income tax return for audit should be withdrawn

KARACHI: Tax practitioners have recommended that the selection of income tax returns for audit should be rest only with the Federal Board of Revenue (FBR) and powers of commissioner in this regard should be withdrawn. “The power to select the return of income may rest only with the FBR under Section 214C of the Ordinance,” […]

by Mrs. Anjum Shahnawaz

Online verification of tax withheld should be available

Jun 8

Budget 2020-2021, Taxation

Online verification of tax withheld should be available

KARACHI: Tax practitioners have urged the Federal Board of Revenue (FBR) to ensure verification of tax withheld on the IRIS portal in order to facilitate taxpayers in making adjustment or claiming refunds. Pakistan Tax Bar Association (PTBA) submitted proposals for budget 2020/2021 saying that withholding tax regime should be simplified by reducing the categories of […]

by Mrs. Anjum Shahnawaz

CNIC should be made mandatory for purchase of moveable, immovable properties

Jun 7

Budget 2020-2021, Taxation

CNIC should be made mandatory for purchase of moveable, immovable properties

KARACHI: Federal Board of Revenue (FBR) has been proposed to make computerized national identity card (CNIC) mandatory for purchase of movable and immovable properties for bringing potential taxpayers into the tax net. A presentation made on behalf of Pakistan Tax Bar Association (PTBA) for submission of proposals for budget 2020/2021, it is highlighted that Pakistan […]

by Mrs. Anjum Shahnawaz

PTBA recommends restoring Rs1.2 million threshold for salaried persons

Jun 7

Budget 2020-2021

PTBA recommends restoring Rs1.2 million threshold for salaried persons

KARACHI: Pakistan Tax Bar Association (PTBA) has recommended to restore basic threshold of Rs1,200,000 for salaried persons in the budget 2020/2021. According to a presentation of Zeeshan Merchant, advocate high court, given on behalf of the PTBA, urged the government to restore the basic threshold of Rs1.2 million that was available for tax year 2019 […]

by Mrs. Anjum Shahnawaz

PTBA demands probe into fake FBR’s date extension letters

Jan 4

Taxation

PTBA demands probe into fake FBR’s date extension letters

LAHORE: Pakistan Tax Bar Association (PTBA) has approached law enforcement agencies to probe circulation of fake/forged circulars related to date extension in income tax return filing. The PTBA – the apex trade body of the country – in an application for lodging FIR against culprits on Saturday informed Federal Investigation Agency (FIA) about the circulation […]

by Mrs. Anjum Shahnawaz

PTBA suggests return filing date extension up to December 31

Dec 13

Taxation

PTBA suggests return filing date extension up to December 31

LAHORE: Pakistan Tax Bar Association (PTBA) has advised the Federal Board of Revenue (FBR) to further extend the last date for filing income tax returns up to December 31, 2019. The PTBA wrote a letter to FBR chairman on Friday and advised to extend the last date for filing income tax returns for tax year […]

by Mrs. Anjum Shahnawaz

PTBA asks FBR to allow amnesty declaration filing on already paid tax

Nov 30

Taxation

PTBA asks FBR to allow amnesty declaration filing on already paid tax

LAHORE: Pakistan Tax Bar Association (PTBA) has said that those persons who had made payment for availing tax amnesty scheme but failed to file their returns should be given an opportunity for compliance. In a letter to Syed Shabbar Zaidi, Chairman, Federal Board of Revenue (FBR) on Friday, the PTBA requested for filing of declaration […]

by Mrs. Anjum Shahnawaz

PTBA estimates one million income tax returns shortfall in case no date extension

Nov 26

Taxation

PTBA estimates one million income tax returns shortfall in case no date extension

LAHORE: The apex tax bar of the country on Tuesday said that the shortfall in income tax return filing may exceed above one million in case no further extension in date is granted. Pakistan Tax Bar Association (PTBA) in a communication sent to the chairman of Federal Board of Revenue (FBR) said that the taxpayers […]

by Mrs. Anjum Shahnawaz

PTBA urges FBR to extend return filing date up to December 31

Oct 29

Taxation

PTBA urges FBR to extend return filing date up to December 31

KARACHI: Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to extend the last date for filing income tax returns up to December 31, 2019 for salaried and business individuals as around 1.6 million returns cannot be filed by October 31, 2019. In a letter sent to FBR Chairman Syed Shabbar […]

by Mrs. Anjum Shahnawaz