FBR updates, income tax, budgets and markets for Pakistan
4 articles
In order to promote documentation and to streamline action, the concept of business bank account has been introduced in the Ordinance by inclusion of definition of business bank account in section 2.…
Taxpayers are required to update their profile by June 30, 2021, to avoid penalty and exclusion from Active Taxpayers List (ATL) under section 114A of Income Tax Ordinance, 2001. The last date…
According to Federal Board of Revenue (FBR) last date for updating the profile was December 31, 2020. However, this date was then extended by the FBR up to March 31, 2021. Date…
According to an explanation issued by the FBR to a Lahore-based chartered accountant firm, "salaried individuals does not require to update their tax profile. However, under Section 181 of the Income Tax…