Pakistan Tax Bar Association seeks another extension in date for filing returns

KARACHI: Pakistan Tax Bar Association (PTBA) has once again asked the Chairman FBR Shabbar Raza Zaidi to extend date of filing of Income Tax returns. In a letter to the Chairman FBR, PTBA said that due to technical issues and increasing number of filers, it is estimated that 34 per… Continue reading

KCCI seeks extension in last date for filing income tax returns

KARACHI: President Karachi Chamber of Commerce & Industry has asked the Federal Minister for Finance, Revenue & Economic Affairs Asad Umer to issue directives to Federal Board of Revenue (FBR) to extend last date for filing Income Tax (IT) returns by one month up to December 31, 2018, which would… Continue reading

KCCI seeks extension in last date for filing income tax returns

KARACHI: President Karachi Chamber of Commerce & Industry has asked the Federal Minister for Finance, Revenue & Economic Affairs Asad Umer to issue directives to Federal Board of Revenue (FBR) to extend last date for filing Income Tax (IT) returns by one month up to December 31, 2018, which would… Continue reading

Income Tax Returns: KCCI requests FBR to restore previous form

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Junaid Esmail Makda has stressed that keeping in view the complications in the revised form this year, the previous form should be restored for filing income tax returns as all taxpayers and practitioners are well-acquainted with the previous version therefore they… Continue reading

KCCI for simplifying procedures, restoration of previous form

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Junaid Esmail Makda, while appreciating the recent announcement to extend the last date for filing income tax returns till November 30, 2018, advised the Federal Minister for Finance, Revenue & Economic Affairs Asad Umer that keeping in view the complications in… Continue reading

Non-filers allowed to purchase vehicles, property

KARACHI:  Federal government through the Finance Bill (Amendment) 2018/2019 has allowed non-filers of income tax returns to purchase immovable properties and motor vehicles. The non-filers were restricted in the budget 2018/2019 to purchase immovable property above Rs5.0 million and purchase of any engine capacity motor vehicles from Tax Year 2019… Continue reading

Commercial importers to file mandatory income tax returns

KARACHI: The Federal Budget 2018-19 has proposed to treat income tax paid by the commercial importers as minimum tax instead of final tax, which means commercial importers are now required to file income tax returns. At present the tax collected under section 148 of the Income Tax Ordinance, 2001 from… Continue reading

Ishaq Dar chairs ECC meeting

ISLAMABAD: The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet here at the Prime Minister’s Office. ECC has approved the proposal of the Ministry of Petroleum and Natural Resources regarding allocation of additional around 50 MMCFD available gas… Continue reading