Blog
Lesco Withholding Tax Certificate
According to Section 235 of The Income Tax Ordinance, 2001: Lesco will issue advance tax certificate under section 235 of the Income Tax Ordinance, 2001. To obtain LESCO electricity bill tax deduction…
#IncomeTaxReturnFiling
12 articles
Updates
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…
Blog
How to Download PTCL Tax Certificate 2026 Online – Complete Guide
When a PTCL's landline connection user pays his monthly bill then it includes cost, income tax, sales tax and other taxes. Income tax paid by the connection holder is advance tax under…
Updates
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…
Taxation
Number of active taxpayers dropped by 30%
The 2.2 million tax return filers were only one-third of those who have valid National Tax Numbers (NTNs). They were doing business in Pakistan but did not file tax returns. This means…
Taxation
Income Tax Return Filing reached at it's peak
The FBR issued the weekly ATL – 2019 updated on the basis of returns filed up to January 10, 2021. The ATL-2019 will remain applicable till February 28, 2021 as the FBR…
Updates
FBR formed committee to improve Income Tax Return forms
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,…
Budget
FBR allowed to taxpayers to file settlement application for agreed assessment
The Federal Board of Revenue has issued a statement saying that the government has added a new section 122D to the Income Tax Ordinance 2001 through the Finance Act 2020. Under which…
Updates
FBR issued no of tax returns submitted up to year end 2020
It is to remind here that the last date for submission / filing of income tax returns by salaried, business individuals, AOPs and companies with special financial year, was December 08, 2020.…
Taxation
Further extension in time for filing income tax return
Extension of time for furnishing returns and other documents. Section 119 of the Income Tax Ordinance 2001 deals with the extension in time for filing annual income tax returns. According to the…
Updates
FBR once again reminded to file income tax returns by the deadline
The FBR said in an official tweet that under section 114 of the Income Tax Ordinance 2001, all persons who have houses consisting of 500 square yards or vehicles of one thousand…
Updates
Rules amended by FBR: Issued time limit for notifying income tax return form
The FBR has issued draft rules for the purpose of setting timelines in respect of various steps involved in notifying income tax return forms for a tax year vide SRO 1041 dated…