Updates
How to Download Income Tax Return from Iris
How to Download Income Tax Return from iris. A taxpayer who is already registered with the tax authority in Pakistan (FBR) and filing tax returns regularly can easily download his annual income…
#PenaltyForActiveFilerStatus
18 articles
Updates
When to File Taxes 2023 in Pakistan?
When to File Taxes 2023 in Pakistan? Here is a piece of great news for taxpayers in Pakistan the Federal Board of Revenue (FBR) has started to accept tax year 2023 tax…
Updates
What is the Last Date to File Corporate Tax Return
What is the Last Date to File Corporate Tax Return. Corporate sector business means an entity that is registered as a private/public limited company in a country. Like in Pakistan, companies are…
Blog
Last Date of Income Tax Return 2022
Last Date of Income Tax Return 2022 Income Tax Return (ITR) Filing for financial year 2021-22 (Tax Year 2022): We are a few days away from the deadline for filing our income…
Blog
Income Tax Returns 2022
Federal Board of Revenue (FBR) in July 2022, made available Income Tax Returns Forms for tax return filing of Tax Year 2022. As per the previous year practice FBR facilitated taxpayers by…
Blog
List of Documents Required for Filing and Submission of Tax Returns in 2022
Global Tax Consultants in Lahore, Pakistan is an experienced tax consultants organization. Established by Mr. Fayyaz Ahmed Khan. Having CA (CAF), MA (Eco.,), B.com, Income tax practitioner (ITP) of FBR, CA articles…
Taxation
Tax Year 2021 Active Taxpayers’ List to be Published on 1 March 2022
The Federal Board of Revenue (FBR) will publish the Active Taxpayers’ List (ATL) for the Tax Year 2021 on 1 March 2022 in accordance with the provisions of Rule 81B of the…
Budget
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…
Budget
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…
Updates
About 200,000 late filers got active taxpayers status
According to latest Active Taxpayer List (ATL) issued by FBR for tax year 2020 updated up to March 14, 2021. The total number of active taxpayers have increased to 2.37 million. As…
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…
Updates
Income Tax Returns Filing Reached at Top
The FBR updated the last weekly ATL for the tax year 2019 on February 22, 2021 and obtained a record number based on the returns filed by February 21, 2021. FBR is…
Updates
Penalties will not be imposed on late filers of income tax returns: FBR
Federal Board of Revenue (FBR) has softened its stance on imposing fines on late filers in the tax year 2020-21. Although the tax authority has not imposed any fines, the fines have…
Updates
FBR appealed to all taxpayers to file income tax returns before march 2021
The Federal Board of Revenue has issued a statement stating that there has been a significant improvement in the collection of income tax returns for the tax year 2020. As of December…
Taxation
Taxpayers are still allowed to file income tax returns: FBR
For the betterment of the taxpayers, the FBR has clarified that they should file their tax returns. As soon as possible as those who file late returns will be penalized accordingly. It…
Updates
Taxes on petroleum products changed
The government changed the taxes on petroleum products, petroleum levy on diesel reduced by Rs 2.43 per liter and petrol by Rs 1.32 per liter. The reduction in levy implemented from today.…
Taxation
Penalty for non-filing income tax returns, wealth statement, foreign assets/income statement & active status
Offence: Where any person fails to furnish a return of income as required under section 114 within the due date. Penalties: Such person shall pay a penalty equal to 0.1% of the…
Taxation
How to become active tax filer in FBR
Active taxpayer list is a record of taxpayers who have submitted their tax returns of previous years. It’s updated on the basis of previous years submission of tax returns. The active taxpayers…