Saturday, 21 December 2024
Trending
How to Check and Verify Vehicle Ownership | Car Registration Online Check 8009 Nadra family verification system | 8009 Nadra online check | 8009 sms Nadra Apple IPhone XS Max PTA and Import TAX in Pakistan | Non PTA price in Pakistan 1500 Prize Bond Draw List 15 August 2022 Lesco Bill Check Online 2022 | How to Get Lesco Duplicate Bill Online 750 Prize Bond List 2022 | Prize Bond Schedule 2022 How to Check Number of Mobile SIMs Issued Against Your CNIC Prize Bond 750 list 2022 | Prize Bond Schedule 2022 200 Prize Bond Draw List 2022 15th March 2022 – Prize Bond Draw Schedule Dates and Results 2022 Rs. 100 Prize Bond Draw Result & List Dated 17 May 2021 FBR Issues Clarification on Excessive Charge of Duties & Taxes on Mobile Phones Govt called for the National Assembly session on June 11 to present the budget Income Tax Returns Filing for Tax Year 2020 Reaches 2.93m Bad News for Salaried & Retired Employees in Upcoming Budget Government Seeks to Impose tax on Suspicious Gifts transactions among Relatives FBR field offices to remain open till midnight on 30th June FBR Issues Circular for Tax Recovery Procedures From Cooperative Housing Societies How to Check Active Taxpayer Status of Income Tax with FBR ? Withdrawals of Tax Exemptions and Tax Credits in Finance Act 2021 KTBA urges FBR to issue directions to banks to stop withholding tax deduction on IT exports FBR decides to deny tax refund claims to retailers resisting integration with tax system Islamabad High Court reserves decision on track & trace system case Deadline and penalty for Tier-1 retailers and other tax provisions relating there to Pakistan starts export of smartphones FBR amends Section 122 of IT Ordinance regarding time limit for proceedings FBR issues Manual Income Tax Return Forms for Individual and AOPs for Tax Year 2021 Agriculture Income Tax Rate in Punjab Pakistan 2020-2021 FBR to deny 60 % Input Tax to Non-Integrated Tier-1 Retailers Shaukat Tarin Profile Zong tax certificate 2021 | Zong e-care tax deduction certificate New Penalty Provisions relating to non-integrated Tier-1 Retailers Procedure to get extension in Date for filing annual Income Tax Returns State Bank Imposes 100% Cash Margin on Import of More Items FBR unearths massive tax evasion No of tax filers for tax year 2021 at deadline FBR will notify revised rates of immovable property by November IMF demands closure of Bank Accounts of public sector entities Single Sales Tax Portal a Step Away 500,000 Retailers Targeted by FBR to Boost Revenue FBR Develops Automated System in WeBOC to facilitate SME Businesses FBR revised minimum prices of steel as international prices rises FBR to penalize tax officials putting external pressures on FBR management Pakistan Citizen Portal | How to use Pakistan Citizen Portal? International Oil Prices declined 10$ a barrel, Govt hints at reducing petroleum prices Weboc FBR suspends implementation of new property valuations rates till January 16 Govt to impose 17% GST on 140 goods in the mini budget Apple IPhone XR PTA and Import TAX in Pakistan and Non PTA Price in Pakistan Apple Iphone 6 PTA and Import TAX in Pakistan | Price In Pakistan Notice issued by FIA to popular cryptocurrency exchange Binance
Income-Tax-Refunds-FBR-Irs
UPDATES

Field formations directed to pay all income tax refunds submitted by January 31, 2021: FBR

By

The FBR has directed the field formations to immediately pay all income tax refunds. Filed under section 170 of the Income Tax Ordinance 2001 by January 31, 2021 for the tax year 2020.

According to the FBR’s directive to field formations to process income tax refund requests, the FBR said that refund payments or refund adjustments holds the same financial impact on the exchequer and unreasonable or criminal refunds not to pay or adjusted by taxpayers.

In this regard, data on Income Tax Refund Applications for Tax Year 2020 obtained from Field Formation / PRAL, and verified. According to data the total refund claims of Rs 74.33 billion in the tax year 2020 and 6,073 submitted applications.

tax-accounting-services-top-tax-consultants-lahore-pakistan
Ads:

It will help to process delays in refund requests. Also prevent unnecessary complaints from taxpayers for non-payment of refunds. Thus, the formatted data of refund requests emailed to the field formations. All formations requested to comply all applications filed under Section 170 of the ITO 2001 by January 31, 2021.

Source

LATEST POSTS

OLDER POSTS

See also  FATF takes up Pakistan case tomorrow

Tax-news-in-urdu
www.TaxUrdu.com
Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

[contact-form-7 id="11414" title="Contact form 1"]

Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: