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FINANCE
Last date to file income tax returns and extended timings of FBR and Banks

Last date to file income tax returns and extended timings of FBR and Banks

Notification of FBR for Collection of Duty & Taxes on 15th October, 2021, C.No. 1(137) STM/2017/16485/R “I am directed to refer to the subject and to state that all LT0s/MT0/CTOs/RTOs shall remain open and observe…

UPDATES
Will FBR extend last date in filing income tax returns 2021?

Will FBR extend last date in filing income tax returns 2021?

The Federal Board of Revenue (FBR) on Wednesday cleared that it is not considering an extension in the date for filing annual income tax returns after deadline of October 15 2021. According to a statement…

UPDATES
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…

UPDATES
FBR urges taxpayers to file Income Tax Returns without delay

FBR urges taxpayers to file Income Tax Returns without delay

Federal Board of Revenue (FBR) has once again urged all the taxpayers, both old and new, to make the most of one-time extension of 15 days granted for filing of Income Tax Returns till 15th October,…

BUDGET
Procedure to get extension in Date for filing annual Income Tax Returns

Procedure to get extension in Date for filing annual Income Tax Returns

In case a person unable to file annual Income Tax return and wealth statement by due date he has right to get extension in date for filing annual income tax returns on various grounds by…

TAXATION
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…

UPDATES
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…

UPDATES
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…

UPDATES
FBR categorically rejected news of extension in date of filing income tax returns

FBR categorically rejected news of extension in date of filing income tax returns

A spokesman for the Federal Board of Revenue has vehemently denied reports in some newspapers of extending the date for filing income tax returns, saying no proposal was being considered at FBR headquarters. Spokesman FBR…

UPDATES
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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