How taxpayers fail in filing returns by due date, KTBA questions FBR

KARACHI: A body of tax practitioners has questioned Federal Board of Revenue (FBR) that how taxpayers fail to file returns for tax year 2019 on September 30, 2019 when the tax authorities... Read more »

Income tax return filing must for person owns above 1000CC motor vehicle

KARACHI: A person owns a motor vehicles having engine capacity above 1000CC is mandatorily required to file income tax return for tax year 2019. Officials of Federal Board of Revenue (FBR) said... Read more »

Filing wealth statement mandatory along with annual return for Tax Year 2019

KARACHI: The filing of wealth statement is mandatory for persons filing annual returns for tax year 2019. Read more »

KTBA highlights glitches, lacunas in income tax return forms

KARACHI: Karachi Tax Bar Association (KTBA) on Friday pointed out glitches and lacunas in income tax return forms which resulted in difficulties in filing tax returns for tax year 2019 Read more »

FBR issues finalized return forms for companies

ISLAMABAD: Federal Board of Revenue (FBR) has issued finalized return forms for companies. The FBR issued SRO 1000(I)/2019 to issue the final return form for tax year 2019. Read more »

Draft income tax return form for salaried persons for tax year 2019

KARACHI: Federal Board of Revenue (FBR) has issued draft income tax return forms for salaried persons to be filed for tax year 2019. Read more »

FBR issues draft return forms for salaried, business individuals for tax year 2019

ISLAMABAD: Federal Board of Revenue (FBR) has issued draft income tax return form for salaried and business individuals for tax year 2019. Read more »

Withholding tax card for dividend income, return on Sukuk: updated for Tax Year 2019

KARACHI: Federal Board of Revenue (FBR) has updated withholding tax card for Tax Year 2019 incorporating amendment made to Income Tax Ordinance, 2001 through Finance Supplementary (Second Amendment) Act, 2001. Read more »

Withholding tax rates on profit on banking deposits

KARACHI: Every banking company shall collect withholding tax under Section 151(1)(b) of Income Tax Ordinance, 2001 from persons receiving profits on their deposits maintained at respective banks. Read more »

FBR issues updated withholding tax card for Tax Year 2019

ISLAMABAD: Federal Board of Revenue (FBR) has issued updated rate card of withholding tax for Tax Year 2019 incorporating amendments made through Finance Supplementary Act, 2018. Read more »