The Federal Board of Revenue (FBR) on Friday formed a committee to simplify income tax returns for the tax year 2021.
This step of FBR is part of various reforms under the special direction of the Prime Minister of Pakistan. FBR urged timely design / finalization of income tax return forms for individuals, AOPs and companies for the tax year 2021. Upon departure from the previous exercise, the FBR aims to pre-design return forms. So that they are available to taxpayers on the first day of the tax year.
The Committee includes Member (IR Policy), Chief Information Officer, Chief of Inland Revenue Operations and Inland Revenue Policy and Second Secretary, Domain Business Team (DBT) of the Information Technology Wing of the FBR are members of the Committee.
Company tax return: ALSO READ
The purpose of the committee is to make income tax return forms as simple as possible. To prepare return forms which require the least possible intervention on an annual basis. FBR aimed and tasked to use International Best Practices.
The effort is aimed at facilitating taxpayers and making the income tax return more user-friendly and free of unnecessary complications. FBR also requested input from the ICAP, ICMAP, Pakistan Tax Bar Associations and various Chambers of Commerce and Industry.
Source | Federal Board Of Revenue | FBR | Income Tax Return | Last Date For Submission Of Income Tax Return 2020 | Penalty for non Filing of Income Tax Return 2020 |
LATEST POSTS
- Honey Business in Pakistan and PriceHoney Business in Pakistan and Price Honey Business in Pakistan and Price. Honey is a great gift of God. Honey tastes sweet and is syrupy in form. Produced by honeybees from the nectar of flowers. It is used by humans…
- How to Become Active Tax Filer in Pakistan in 2024How to Become Active Tax Filer in Pakistan in 2024 How to Become Active Tax Filer in Pakistan in 2024. To become a tax filer is beneficial for all those citizens who are getting some taxable income, earning foreign source…
- 1500 Prize Bond Full List 15 November 20231500 Prize Bond Full List 15 November 2023 1500 Prize Bond Full List 15 November 2023. Yesterday Rs 1500 prize bond draw was scheduled and same the Directorate of National savings has issued full list of winners of prizes. There…
- 1500 Prize Bond List 15 November 20231500 Prize Bond List 15 November 2023 1500 Prize Bond List 15 November 2023. Investment in prize bonds is very renowned investment type among the general public in Pakistan. Now you can also invest in premium prize bonds. Premium prize…
- 100 Prize Bond List 15 November 2023100 Prize Bond List 15 November 2023 100 Prize Bond List 15 November 2023. Investment in prize bonds is very famous among the general public in Pakistan. Now a days Government is also issuing premium prize bonds in addition to…
- Latest Update on Extension of Date for Filing of Income Tax ReturnsLatest Update on Extension of Date for Filing of Income Tax Returns Latest Update on Extension of Date for Filing of Income Tax Returns. Premier tax authority in Pakistan the Federal Board of Revenue (FBR) has informed that over 2.9…