Sources privy to the development quoted him as saying this during a meeting with Karachi Tax Bar Association (KTBA) on income tax returns for the tax year 2020-21. Facebook ; Twitter ; YouTube ; Official Email (FBR Employees) Government Links . If you are an overseas Pakistani/ non-resident and have don’t have income, or vehicle of more than 1000c or any other requirements laid in section 114 of the Income Tax Ordinance, 2001 does not meet then you are no longer required to file tax return and if you hold property in Pakistan and you are an overseas Pakistani/ non-resident then you are not required to file tax return with FBR. Income Tax Return for Salaried Persons Part II. That number has further increased to 2.19 million with the addition of 377,766 more returns filed from December 9, 2020 till the issuance of this statement. See actions taken by the people who manage and post content. Facebook is showing information to help you better understand the purpose of a Page. and email address. You may verify your details With FBR using our Online Verification Services. KARACHI: The Federal Board of Revenue (FBR) on Wednesday issued a simplified return form for tax year 2020 to facilitate small manufacturers though the date to file this return had already expired a day earlier. … Overseas Pakistanis are required to file tax return 2019 if they meet any condition of section 114 of the Income Tax Ordinance 2001. Filing FBR Tax Return is a legal and moral obligation upon every citizen of Pakistan required under law to declare their income and pay taxes accordingly. Therefore, the FBR should take a lenient view and withdraw the penalty on returns filed after the due date. The Federal Board of Revenue (FBR) has flouted Finance Minister Abdul Hafeez Shaikh’s orders to clear up to Rs50 million worth of income tax refunds in seven days, as … Click Salary option under the Employment menu. "Fines and penalties on late filers are not meant to boost revenue collection but used as a tool to deter against late filing," said Ashfaq Ahmed, a member of the Inland Revenue Operations at the FBR. The FBR official said late filers were liable to fines and penalties but the board may decide on a case-to-case basis. By January 15, the number of income tax return filers has increased to 2.4 million. which is your CNIC No. How to Download Income Tax Return Copy From FBR Iris - YouTube Although, the tax authority hasn't imposed any fine yet the penalty has been under discussion for a while. KARACHI: Federal Board of Revenue (FBR) has decided to not impose a penalty on late filers across the board owing to technical and non-technical hurdles in the filing of returns. 5. Bitcoin declines 17% as doubts grow over valuations, Tom Holland reveals how he hilariously botched his ‘Star Wars’ audition, Pakistani drivers declared 'best' in UAE by insurance company, Netflix to drop documentary on college admissions scandal. About See All +92 333 2345925. Editing / Changing Saved Income Tax Return. Stay Connected . In order to view or change provided details in saved income tax return following the below-mentioned steps: On Iris dashboard, click on the Draftfolder from the left menu and select Declaration as shown below: 2. Login to 'Iris' by entering your Registration No. The wizard based solution takes care of Salaried and Business Individual Income Tax Return for resident/non-Resident taxpayers. Filing of Wealth Statement Community See All. and Password which has been sent on your Cell No. The FBR stated on Thursday that taxpayers are allowed under the law to file annual income tax returns after the completion of extended period granted by the Chief Commissioners Inland Revenue. Entitlement of refund If an individual fails to furnish a return of income, they are liable to pay equal to 0.1% of the tax payable in respect of that tax year for each day of default subject to a maximum penalty of 50% of the tax payable provided that if the penalty worked out is less than Rs40,000, or no tax is payable for that year such person shall pay a penalty of Rs40,000. After registration you can log into Iris and file your Income Tax Return. “Provided that if 75 percent of the income is from salary and the amount of income under salary is less than five million rupees, the minimum amount of penalty shall be Rs5,000,” read the law. The tax official informed the KTBA the FBR is taking strict action against non-filers and will initiate prosecution against non-compliant taxpayers. Representative (as defined in section 172 of the Income Tax Ordinance, 2001) of the Taxpayer named above, do solemnly declare that to the best of my knowledge & belief the information given in this Return / Statement u/s 115(4) is correct & complete in accordance with the provisions of the Income Tax Ordinance, 2001 & Income Tax Rules, 2002. Section 182 of the Income Tax Ordinance 2001 explains the penalties for late filers. The refund can also be claimed later on after submitting your Income Tax Return, but within two years from the date of filling of return (date of assessment) or from the date on which the tax was paid, whichever is later. Page Transparency See More. 4 check-ins. Income Tax Fbr Return Pakistan. Subscribe my channel for more interested and informative videos. اُردو . To check the status of your application, please visit your relevant Regional Tax Office (RTO). Income Tax Return Filing ; Customs; Prime Minister's package for Construction Sector; Tax Asaan App; Filer & Non-Filer; Online Tax Payment; Refund Payment; FBR Maloomaat; Benaami Transaction (Prohibition) Act - 2017 To facilitate taxpayers, FBR has introduced a simplified wizard based Income Tax Return filing mechanism as a new feature of Tax Asaan mobile application. 2,823 people follow this. Those having obtained a National Tax Number (NTN) or Registration Number but do not have credentials to log into Iris can get access by clicking on ‘E-enrollment for Registered Person’ . ISLAMABAD: The Federal Board of Revenue (FBR) has given permission to those taxpayers who sought an extension for filing income tax returns, The News reported on Friday. It aims to enhance the number of tax filers in the interest of enhancing tax base of the country, at the same time, reduce huge cost to ordinary citizens who have to suffer cost of being non … Choose the desired service from left panel to proceed to the verification services. No further extension has been granted. Tax Preparation Service . Befiler is a joint initiative of team of leading tax professionals and technology enthusiasts. Sources told The News that the board softened its stance on the imposition of penalty on income tax returns late filers for the tax year 2020-21. Fill Income Tax Return Form Employment Details. Today in this new video we will learn about How to Download Income Tax Return Copy From FBR Iris.Note:1)to download itr copy from fbr first you should have istalled pdf in your computer.2)Disable your internet download manager for a while to download your itr copy from fbr.Questions Also solved about:How to donwlaod income tax return copy fromm fbr iris?How to donwlaod income tax return copy from fbr iris?How to donwlaod income tax return copy from fbr?How to donwlaod income itr copy form fbr iris? KARACHI: Federal Board of Revenue (FBR) has decided to not impose a penalty on late filers across the board owing to technical and non-technical hurdles in the filing of returns. … How to donwlaod income itr copy form fbr?donwlaod income tax return copy fromm fbr iris?donwlaod income tax return copy from fbr?.......................................................If you like the video then do not forget to like,comment,share the video and also do not forget to subscribe our channel.#fbr#IncomeTaxReturn#downloaditrcopy......................................................Join me on Social Media:►For more videos please subscribe our channel:https://www.youtube.com/channel/farooqkhanofficial►Like my Facebook Page:https://www.facebook.com/farooqkhanofficial45►Follow me on Twitter:https://twitter.com/FAROOQkOFFICIAL ►Follow me on Instagram:https://instagram.com/farooq.khan.official►Add me on Facebook:https://www.facebook.com/farooqkhanofficial452 OK 5 out of 5 stars. FBR TVCs. The revenue body received around 1.8 million tax returns by December 8, 2020, and directed all tax officers to grant extension in date to taxpayers who submit applications to the Commissioner Inland Revenue. In case your salary includes amount that is exempted from tax, mentioned that amount in the “Amount Exempt from Tax” field. Income Tax paid during filing of returns stood at Rs31 billion. Click on Calculate button on the top right corner of the form. It may be added here that the last date for income tax returns was December 8, 2020, for salaried and business individuals, taxpayers falling under the final tax regime, and companies with a special tax year. FBR -Federal Board of Revenue is the Revenue Division of Government of Pakistan tasked with collecting taxes & duties and administrating relevant legislation. This feature will help taxpayer to proceed step by step utilizing interactive questions for return filing, even familiarizing the taxpayer with the various issues related to tax and giving the best possible experience to file IT Return. The KTBA officials said many taxpayers have genuine reasons for late filing. The initiative aims to simplify tax return filing process for individuals; especially salaried class, and promote the culture of documentation. Where the refund claim is filed under section 66 of the Act, the claimant shall submit an application for refund indicating his name, address, registration number, the amount of sales tax refund claimed and reasons for seeking such refund along-with following documents, namely: Input tax invoices in respect of which refund is claimed; A screen shall appear will all the drafted tasks against Declaration. The tax … The last date to file returns for corporate taxpayers was December 31, 2020. Enter your annual income in lieu of salary in Total Amount field. The FBR said that the taxpayers’, who filed income tax returns till December 08, 2020 were 1.78 million. 2,760 people like this. Similarly, if a person fails to furnish a wealth statement, which is mandatory to file along with the return of income, by the due date then such an individual will pay a penalty of 0.1% of the taxable income per week or Rs100,000 whichever is higher. Income Tax Return for Salaried Persons Part I. Tax Preparation Service. Income Tax Return Form Individual Paper Income Tax Return 2020; Paper Simplified Return of Income For Retailers 2020 ; Paper Simplified Return of Income For Manufacturers 2020; Individual Paper Income Tax Return 2019; Individual Paper Income Tax Return 2018 . The Federal Board of Revenue (FBR) on Friday said it has launched the first phase of pre-filing of some information enabled for individual taxpayers in the annual income tax returns. 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