ISLAMABAD: Federal Board of Revenue (FBR) has estimated around 2.77 million income tax returns for tax year 2019 to be filed by January 31, 2020, sources said on Wednesday. The FBR extended the date for filing income tax returns for tax year 2019 up to January 31, 2020 for all type of taxpayers. The FBR […]
KARACHI: The income tax return filing date for tax year 2019 is December 31, 2019 for all types of taxpayers, which is unusual considering past years. The taxpayers including salaried individuals, business individuals, association of persons (AOPs), final taxpayers, companies falling under special tax year, corporate entities whose financial year ending June 30. The filing […]
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 extend the date ahead of cutoff time. The Karachi Tax Bar Association (KTBA) in a letter to FBR chairman referring the Circular No. […]
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 that any person had ownership of a motor vehicle having engine capacity above 1,000CC till June 30 was required to file annual return. […]
KARACHI: The filing of wealth statement is mandatory for persons filing annual returns for tax year 2019. The filing of income tax return and wealth statement is due on September 30, 2019. By this date other than companies having accounting year July – June, are required to file their returns. Under Section 116 of the […]
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 The tax bar wrote a letter to the chairman of Federal Board of Revenue (FBR) regarding its previous communication on August 27, 2019 about the […]
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. The FBR has previously issued draft corporate return form through SRO 968(I)/2019 on August 29, 2019. The companies having accounting year between July 01 to December 31 […]
KARACHI: Federal Board of Revenue (FBR) has issued draft income tax return forms for salaried persons to be filed for tax year 2019. The last date for filing income tax return for salaried persons for tax year 2019 is September 30, 2019. The FBR issued the following draft return form for salaried individuals as issued […]
ISLAMABAD: Federal Board of Revenue (FBR) has issued draft income tax return form for salaried and business individuals for tax year 2019. The FBR issued SRO 951(I)/2019 on Friday and invited comments from stakeholders on the draft forms within seven days from the issuance of the date. The revenue body issued the draft electronic return […]
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. Following are the withholding tax rates for dividend income and return on investment in Sukuk under Section 150 and Section 150 A updated up to […]