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Tag Archives: Income tax returns

FBR achieves 11.91pc increase in tax returns during last two financial years

ISLAMABAD: The Federal Board of Revenue (FBR) has been achieving a steady and significant increase in the number of income tax returns filers during the last two fiscal years. The figures available with Customs Today show consistent increase in figures and percentage during the fiscal years 2013 and 2014, respectively. The income tax returns are filed on yearly basis, not ... Read More »

390,000 returns filed: PTBA urges FBR to extend deadline up to Dec 31

KARACHI: The Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) chairman Tariq Bajwa to further extend the deadline for filing income tax returns up to December 31. Taxpayers may not able to pay tax in a short span of time. The PTBA said in a letter sent to chairman of the revenue body Tariq Bajwa ... Read More »

2,753 alone in Islamabad: FBR traces 40,000 potential taxpayers having luxury cars

ISLAMABAD: As part of its efforts to broaden tax net, the Intelligence and Investigation Wing of the Federal Board of Revenue (FBR) compiled data of more than 40,000 people, possessing luxury vehicles in the price range of over Rs3 million each. The step has been taken to identify potential tax evaders and bring them into the tax net across the ... Read More »

Income tax returns: FBR’s RTO-I, II, LTU to remain open on Friday till 8pm

LAHORE: The Regional Tax Offices I, II and Larger Taxpayers Units of the FBR will remain open on November 21 (Friday) till 8 pm for receipt of manually filed income tax returns, officials sources said on Wednesday. The sources said that the FBR has issued instruction to all the regional offices to facilitate the taxpayers for filing of the returns. ... Read More »

Vohra urges FBR to extend date for Income Tax filing

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Iftikhar Ahmed Vohra has urged the Federal Board of Revenue (FBR) to extend the last date for filing of income tax returns and wealth statements as the taxpayers are facing immense hardships and are unable to timely submit their returns through the faulty IRIS system. In a statement issued on Thursday, ... Read More »

FBR seeks list of non-filers of income tax returns

LAHORE: The Federal Board of Revenue (FBR) has sought a list of its officials who have taxable income and not been filing income tax returns regularly from their respective offices. FBR Chief Revenue and Operations Dr Amir Talpur has asked all the FBR office heads, including chief commissioners Inland Revenue, larger taxpayers units, regional tax offices, directorates of intelligence and ... Read More »

KTBA asks FBR for sub-users accounts in ‘IRIS’ system

KARACHI: The Karachi Tax Bar Association (KTBA) has expressed deep concerns over flaws in new online system ‘IRIS’, launched by the Federal Board of Revenue (FBR) for filing Income Tax Returns. The KTBA President Syed Waseem-ud-din Hashmi has expressed apprehension over the flaws in IRIS system, which is not allowing the e-intermediaries to file Income Tax Returns of the clients. ... Read More »

FBR tells 62 officials to submit tax returns to get allowance

ISLAMABAD: The Federal Board of Revenue (FBR) has suspended the performance allowance of 62 officials between Grade 17 and 19 for not submitting their income tax returns. The FBR has issued a notification in this regard. However, the FBR Chairman Tariq Bajwa has barred the officials concerned from publishing the notification on the official website. According to the notification, if ... Read More »

PTBA asks FBR to extend tax filing date

KARACHI: The Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to extend the date of filing income tax returns by two months beyond the end date September 30. The PTBA, in a letter to FBR Chairman Tariq Bajwa, said that only 14 days time was given to file the tax return and wealth statement, which ... Read More »

FBR extends date for filing IT returns till October 31    

  ISLAMABAD: The Federal Board of Revenue (FBR) has extended the last date for filing of income tax returns till October 31 to facilitate the taxpayers. Earlier, the last date was September 30.  The date has been extended on the direction of Finance Minister Ishaq Dar.  The FBR has established 200 desks for this purpose to facilitate taxpayers. The one-month ... Read More »

FBR sets up 200 centres to facilitate taxpayers

ISLAMABAD: The Federal Board of Revenue has established 200 tax facilitation kiosks to facilitate the business community in filing of income tax returns. The centres have been established at important business centres, shopping malls, offices of traders’ associations and chambers of commerce and industry, national and provincial assemblies buildings, federal secretariat, civil secretariats in all the provincial capitals, press clubs ... Read More »

FBR seizes Umar Akmal’s bank accounts

LAHORE: Federal Board of Revenue has seized 4 accounts of cricketer Umar Akmal in Dubai Islamic Bank. Sources informed that Umar Akmal has to pay Rs 3.6 million to FBR as tax. They said that the cricketer has been evading tax for the last three tax years. Regional Tax Office Lahore has seized four account of Umar Akmal. Meanwhile, the ... Read More »

No date extension for officials to submit returns: FBR

ISLAMABAD: Federal Board of Revenue has announced that there will be no extension in the last date for filing returns by FBR officials. According to sources in FBR, officers and staff of the Board were warned to submit their returns and details of their assets by June 16. It was clarified that special allowance of the officials who fail to ... Read More »

Another deadline: FBR directs officials to file IT returns by June 16

ISLAMABAD: The Federal Board of Revenue (FBR) has imposed penalty on a large number of tax officials, who failed to file their income tax returns for Tax Year 2013. According to the FBR’s instructions issued to field formations, a large number of the board officers have not yet filed their Income Tax Returns for the tax year 2013. The authorities ... Read More »

Top cricketers’ undeclared incomes revealed, FBR issues notices

LAHORE: Misbahul Haq, the Pakistani cricket team’s skipper along with Muhammad Hafeez, Azhar Ali and Taufiq Umar have not been informing the tax officials fully in their tax returns. As a result FBR has taxed them heavily after revelation of their additional incomes. FBR has imposed additional taxes after comparing the bank accounts and tax returns of the four cricketers. ... Read More »

FBR to deduct tax on income drawn from rented buildings

LAHORE: Regional Tax Offices I and II have planned to bring into tax net owners of the buildings rented to private banks, hospitals, departmental stores, according to sources. Sources said that according to a survey conducted by the Regional Tax Offices of Lahore, most of the owners of the buildings who rented their properties to the banks, hospitals and other ... Read More »

Directory reveals tax paid by top finance officials

ISLAMABAD: The tax directory of 791,621 income tax return filers has been published by FBR, which has already unveiled the tax directory of parliamentarians. It has also revealed the amount of income tax paid by important officials. According to the tax directory, for the fiscal year ending June 30, 2013, Federal Board of Revenue Chairman Tariq Bajwa paid Rs 183,734 ... Read More »

FBR produces Tax Directory for Tax Year 2013

ISLAMABAD: Federal Board of Revenue has issued Annual Tax Directory containing the names of more than 791,621 taxpayers for Tax Year 2013. The directory reveals names/titles, National Tax Numbers (NTNs) and amount of payment of income tax by return filers including individuals, corporations and Associations of Persons. The tax directory has not revealed the annual income of all taxpayers. The directory ... Read More »

Accounts audit likely to be made mandatory for e-filing of IT returns

ISLAMABAD: The Federal Board of Revenue (FBR) is planning binding taxpayers to get their accounts audited by professional accountant firms for e-filing of income tax returns. According to reports, the board intends to insert a new provision – (177-A) – into the Income Tax Ordinance, 2001 in the budget for 2014-15 to make the audit of financial accounts by professional ... Read More »

FBR directs RTOs, LTUs to ensure filing of returns by all NTN holders

ISLAMABAD: All national tax number holders who have not filed their income tax returns for Tax Year 2013 are to be served notices by the Federal Board of Revenue. Regional Tax Offices all over the country have been issued instructions in this regard. It is a legal requirement for every NTN holder to file his/her income tax return. Non-filer NTN ... Read More »