Karachi, September 2, 2025 – The Federal Board of Revenue (FBR) has made it clear that return filing for the tax year 2025 is mandatory for individuals whose annual income from business exceeds Rs350,000.
(more…)Tag: return filing
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Who is responsible for filing tax return of a deceased person?
Karachi, September 2, 2025 – The Income Tax Ordinance, 2001 provides a clear framework regarding the return filing obligations in cases where a person, liable to file an income tax return, passes away during the tax year 2025.
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Allied Bank, Befiler join forces for seamless 2025 tax filing
Allied Bank, one of Pakistan’s top commercial banks, has officially partnered with Befiler, a leading digital tax filing platform, to revolutionize the 2025 tax return filing process.
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LTBA seeks return filing deadline extension over login obstacles
Lahore, July 16, 2025 — The Lahore Tax Bar Association (LTBA) has officially called upon the Federal Board of Revenue (FBR) to extend the filing deadline for monthly sales tax returns, citing widespread login and technical disruptions on the IRIS portal.
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Ready to File Your 2025 Tax Return? Start by Registering with FBR
Karachi, July 12, 2025 — Planning to file your income tax return for 2025? The Federal Board of Revenue (FBR) wants you to know that the first and most crucial step in the return filing process is registration.
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Return filing 2025 now mandatory for income above Rs300,000
Islamabad, July 12, 2025 — Are you running a business and your annual income exceeds Rs300,000? If yes, then get ready — return filing for Tax Year 2025 is no longer optional. Mark your calendar: September 30, 2025, is the deadline for submitting your income tax return to the Federal Board of Revenue (FBR).
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FBR Announces Return Filing Deadlines for Tax Year 2024
Karachi, January 8, 2024 – The Federal Board of Revenue (FBR) has released the deadlines for filing the annual return of income and wealth statement for the tax year 2024, providing clarity for taxpayers across various categories.
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FBR Unveils IRIS 2.0: A Game-Changer for Efficient Tax Return Filing
Islamabad, July 27, 2023 – The Federal Board of Revenue (FBR) announced a major step forward in tax administration with the launch of IRIS 2.0, an upgraded version of the tax return filing system.
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Tax Return Filing for Year 2023 Begins in Pakistan
Islamabad, July 8, 2023 – The filing of annual income tax returns and statements of assets for the tax year 2023 has officially commenced in Pakistan, according to official sources from the Federal Board of Revenue (FBR). The FBR opened its return filing portal, known as IRIS, on July 1, 2023, covering the period from July 1, 2022, to June 30, 2023.
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Return filing mandatory for Pakistanis having foreign assets
ISLAMABAD: Pakistanis having income and assets abroad are required to file annual income tax return under Section 114 of the Income Tax Ordinance, 2001.
According to Section 114 of the Ordinance the return filing is mandatory for: “(x) is a resident person being an individual required to file foreign income and assets statement under section 116A.”
The Section 116A of the Ordinance was introduced through Finance Act, 2018.
According to this section every resident taxpayer being an individual having foreign income of not less than ten thousand United States dollars or having foreign assets with a value of not less than one hundred thousand United States dollars shall furnish a statement, hereinafter referred to as the foreign income and assets statement, in the prescribed form and verified in the prescribed manner giving particulars of—
(a) the person’s total foreign assets and liabilities as on the last day of the tax year;
(b) any foreign assets transferred by the person to any other person during the tax year and the consideration for the said transfer; and
(c) complete particulars of foreign income, the expenditure derived during the tax year and the expenditure wholly and necessarily for the purposes of deriving the said income.