Got 221(2) (Notice for rectification of mistake in assessment order) from FBR ” Return of income for the tax year mentioned above was filed, which was deemed to be assessed under section 120 of the Income Tax Ordinance, 2001. Perusal of the return reveals that you had adjusted a refund of the prior year against … Read more
I Got a 111(1) Notice to Explain Income/Asset from FBR: As per definite information available within this office you have made investment of Rs. 6,164,737/ for the purchase of immoveable property in tax year 2022 in shape of following entry; IT2021050801011112683 08-May-2021 9020509 SUB REGISTRAR, DEPLAPUR A244269 3530129948289 … Read more
Understanding admitted income tax in the context of the Federal Board of Revenue (FBR) in Pakistan is essential for both individuals and businesses to ensure compliance with tax regulations. In this blog article, we will discuss about the concept of admitted income tax, its significance, calculation methods, and the implications for taxpayers. What is Admitted … Read more
Navigating the intricacies of tax regulations is essential for both individuals and businesses in Pakistan. The Federal Board of Revenue (FBR) has outlined specific tax slabs for the fiscal year 2024-2025, which reflect significant changes aimed at addressing the country’s economic challenges. In this blog article, we will explore about the details of these tax … Read more
Understanding your tax obligations is crucial for both individuals and businesses in Pakistan. The Federal Board of Revenue (FBR) provides tools and resources to help taxpayers calculate their dues accurately. In this blog post guide, we will explore about the tax calculator for the fiscal year 2023-24, detailing how it works, the applicable tax slabs, … Read more
The Federal Board of Revenue (FBR) in Pakistan has established new income tax slabs for the fiscal year 2024-2025. These changes reflect the government’s ongoing efforts to adjust tax rates in response to economic conditions, inflation, and the financial burden on salaried individuals. In this blog post guide, we will provide you a comprehensive overview … Read more
The Federal Board of Revenue (FBR) in Pakistan has implemented significant changes to the capital gains tax (CGT) on property transactions, especially with the introduction of a flat tax rate. In this blog article, we will explore about the intricacies of the FBR gain tax on property, detailing the current regulations, the implications of recent … Read more
As a responsible Pakistani citizen, it is our duty to comply with the country’s tax laws, particularly if you have a business or earn a taxable income. Becoming a tax filer not only contributes to the development of Pakistan but also offers numerous benefits, such as lower withholding tax rates, eligibility for tax exemptions and … Read more
The Federal Board of Revenue (FBR), known in Urdu as وفاقی بورڈ محصولات, plays a crucial role in the fiscal landscape of Pakistan. Established to oversee tax collection and enforcement, the FBR is integral to the country’s economic framework. In this article, we will explore about the functions, history, significance, and challenges faced by the … Read more
Paying your Federal Board of Revenue (FBR) challan online is a straightforward process that simplifies tax payments in Pakistan. This guide will walk you through the steps involved, ensuring you can complete your payment efficiently and accurately. Understanding FBR Challans What is a Challan?A challan is a document that serves as proof of payment for … Read more