Penalty for Non Filing of Annual Income Tax Returns 2021

Penalty for Non Filing of Annual Income Tax Returns 2021

A penalty of Rs1,000 each day of default has been implemented from Saturday after the expiry of return filing date on October 15, 2021. A new amendment has been made part to the Income Tax…

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No of tax filers for tax year 2021 at deadline

No of tax filers for tax year 2021 at deadline

Against 7.2 million taxpayers registered with the Federal Board of Revenue (FBR), just 2.5 million, or 35%, filed annual income tax returns till the extended deadline that expired on Friday. The FBR now faces the…

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Current figures of income tax returns filing for tax year 2021

Current figures of income tax returns filing for tax year 2021

The Federal Board of Revenue (FBR) has received record number of 2.163 million income tax returns for the tax year 2021 up to October 11, 2021. According to media reports here on Monday that the…

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FBR extended Tax Return Filing Date 2021

FBR extended Tax Return Filing Date 2021

Minister Shaukat Tarin decided to extend the date considering the constant demands from the business community. The tax collection body had received applications for the extension of the deadline of filing income tax returns for…

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FBR’s Updates regarding extension in date of filing Income Tax Returns 2021

FBR’s Updates regarding extension in date of filing Income Tax Returns 2021

The Federal Board of Revenue has re-iterated its position that there shall not be any extension in the statutory date of filing of income tax returns for Tax Year 2021. The last date of filing…

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Updated Penalty Provisions on failure to file the return within the due date 2021

Updated Penalty Provisions on failure to file the return within the due date 2021

The Federal Board of Revenue (FBR) has clarified that a person who fails to file the return within the due date will have to pay a penalty of higher of Rs1,000 or 0.1 percent of…

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Current figures of tax filings for tax year 2021

Current figures of tax filings for tax year 2021

Federal Board of Revenue (FBR) has currently received just one million income tax returns with only five days left in the returns’ deadline, underscoring that the tax broadening campaign is not yielding results. As compared…

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Computational Errors in FBR Iris Portal identified by KTBA

Computational Errors in FBR Iris Portal identified by KTBA

Karachi Tax Bar Association (KTBA) has expressed dissatisfaction over the classification of income set in IRIS (portal for e-filing of income tax returns), citing various computational errors and glitches. In a letter sent to the…

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Separate FBR Iris portal for overseas Pakistanis for Income Tax Return filing

Separate FBR Iris portal for overseas Pakistanis for Income Tax Return filing

Federal Board of Revenue (FBR) on Tuesday issues press release and announced that a separate FBR Iris portal has been issued to facilitate non resident Pakistanis (overseas Pakistanis). By considering the issues they are facing…

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FBR says No extension in Returns filing date after 30th September 2021

FBR says No extension in Returns filing date after 30th September 2021

Federal Board of Revenue (FBR) Thursday decided for no extension in tax returns filing date after September 30, 2021 to ensure the in-time tax collection in the country. Improvement of tax compliance culture is prime…

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