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Federal Board of Revenue (FBR) notified instructions for procedures of applying extension requests in filing income tax returns for tax year 2020. The facility will be available until December 10 for the manual reception of extension requests. ISLAMABAD (APP) - The Federal Board of Revenue (FBR) has extended the date of filing of returns and statements for the tax year 2017 upto December 2017. Inheritance and gift tax rates around the world, #ExtensionInTimeForSubmissionOfIncomeTaxReturn, #LastDateOfIncomeTaxReturn2020FBRPakistan, FBR issues formula for calculation of capital gain tax on sale of immovable property, No sales tax on wheat flour and related items, Highest Statutory Corporate Income Tax Rates in the World, 2019, Imported LNG prices for gas companies increased, ایف بی آرکا ٹیکس گزاروں کو اے ڈی آر سی کے ذریعے مقدمات کا فوری حل نکالنے کی ترغیب, ہاؤسنگ لون: اسٹیٹ بینک نے شکایات کے حل کے پورٹل کا آغاز کیا, پنشنرز سال میں دو بار بائیو میٹرک تصدیق کرائیں گے۔ قواعد میں ترمیم کی گئی, انکم ٹیکس گوشوارے جمع کروانے کا عمل عروج پر ہے, پاکستان کے ٹیکس قوانین کے تحت رہائشی اور غیر رہائشی حیثیت, سیکرٹ بینک اکاؤنٹس کی اطلاع پر راحت فتح علی خان کا ٹیکس آڈٹ دوبارہ شروع ہوا, پاکستان میں کرپشن افغانستان سے زیادہ بڑھ گئی: ٹرانسپرنسی انٹرنیشنل نے انکشاف کیا, تنخواہ لینے والے ٹیکس دہندگان کو ٹیکس پروفائلز کی تازہ کاری کی ضرورت نہیں: ایف بی آر, ایف بی آر نے صفر ریٹنگ کے نظام کی بحالی کی مخالفت کی, Finance Act 2020 | FBR Budget Salient Features | Tax Year 2021 |, PM Imran Khan Big Incentive for Construction Industry In Pakistan, Pakistan, Hungry sign MoU for avoiding double taxation. FBR has extended the date for filing of income tax returns from September 30th to December 8, 2020. All rights reserved. 41 Billion in December 2020, FBR introducing tax stamps for track & trace system from July 2021, Corruption in Pakistan increased more than Afghanistan: Transparency International reveals, FBR opposed to restore the zero rating system, Tax Profiles updation not required to salaried taxpayers: FBR, Resident and Non Resident status under tax laws of Pakistan, Income tax returns filing reached at new peak. Pakistani citizens now have another opportunity to file their income tax returns after the last date for tax returns for 2020 was extended by the Federal Board of Revenue (FBR). (I)/2019.- In exercise of the powers conferred by sub-section (4) of section 68 of the Income Tax Ordinance, 2001 (XLIX of 2001) and in supersession of its Notification No. Notification No 90/2020[F. No. KARACHI: The Federal Board of Revenue (FBR) has notified extension in the date of filing income tax returns and statements for Tax Year 2019 till December 31, 2019. I am directed to refer to the subject and to say that in exercise of the powers conferred under section 74 of the Sales Tax Act, 1990 and section 43 of the The latest date extension has been granted considering the situation as the lockdown has adversely impacted economic activities. The actual last day for filing income tax returns for tax year 2019 was September 30, 2019. On Monday, FBR, in its notification, instructed the chief commissioners of Large Taxpayers’ Offices, Medium taxpayers’ offices, Corporate tax offices and Medium tax offices to set up help desks in the respective field formations. The FBR issued notification on Monday addressing all chief commissioners of Inland Revenue regarding extension in the date for submission of sales tax and federal excise return for the tax period of May 2019. The login page will open in a new tab. On this date salaried persons, business individuals, Association Persons (AOPs) and corporate entities having special tax year are required to file income tax returns. The Federal Board of Revenue (FBR) has extended the deadline for the filing of income tax returns until December 8, 2020. It is likely that the revenue board will issue the notification late night or tomorrow. اُردو Prime Minister's package for construction sector Follow FBR Social Media Handles Track & … Your email address will not be published. FBR -Federal Board of Revenue is the Revenue Division of Government of Pakistan tasked with collecting taxes & duties and administrating relevant legislation. FBR people and concerned ministry is incompetent, lethargic ——, © 2020 ProPakistani.PK - All rights reserved. However, FBR has not yet issued any income tax circular or notification in this regard. (1)- FBR’s earlier instructions on the topic contained in letter C.No.6(2)S(IR-Ops/2020(Pt), dated December 4 2020 and to state that Pakistan tax bar various chambers of commerce and industry,trade bodies,and sections of print and electronic media approached FBR requesting that either the last date for filing of income tax returns for tax year 2020 be extended or the process of seeking extensions from the commissioner under section 119(1) of the income tax ordinance 2001 be rendered facilitative. NOTIFICATION (Income Tax) S.R.O. Further instructions disappointed all stakeholders (tax consultants / practitioners, taxpayers, chambers etc.,) who have already requested to the FBR for extension of last date for Tax Year 2020. Around 2.3 million tax returns have been filed till now as against 1.635 million returns filed in the tax year 2018. Life Skills & Lessons: An exclusive Interview with Dr. Ja…, 6 Important Considerations To Make When Hiring An Employee, An Exclusive Interview With Junaid Khan on His Future Plans. A file with the FBR file extension is a FlashBack Screen Recording file, sometimes called a FlashBack Movie file, used to store video recordings of a computer screen. FBR Abolished Additional Customs Duty on Import of Electric vehicles, Auto loans increased by 19% to Rs. FBR clarification: good news for overseas Pakistanis for taking exemption from tax on profit on bank deposits, Your email address will not be published. FBR Foundation ; Virtual One Stop Shop (VOSS) Field Office Websites; State Bank of Pakistan; Securities and Exchange Commission of Pakistan ; Trade Development Authority of Pakistan ; Gwadar Development Authority Below is the notification produced for the reference: Don’t take extension of date seriously. December 07, 2020. In exercise of the powers conferred under Section 214A of the Income Tax Ordinance 2001 the Federal Board of Revenue is pleased… The Federal Board of Revenue (FBR) last week circulated a notification showing concerns over low number of corporate returns filed for tax year 2020. S.R.O. 551 billion in first two months of current FY-2020-21 Aug 31, 2020 FBR directs field offices of customs to stop smuggling of food items Federal Board Of Revenue said that repeatedly extensions in time for filing income tax returns over the years effect the credibility of the administration of the department. A notification has just been issued, confirming that deadline for filing of tax returns has been extended till December 8th, 2020. KARACHI: Karachi Tax Bar Association (KTBA) on Tuesday urged the Federal Board of Revenue (FBR) to withdraw a notification issued allowing tax offices to complete audit related to past year. 120(I)/2019 dated the 1st February, 2019, the Federal Board of Revenue is © 2020, www.TAX.net.pk. Return filing form was finalized on 10 September. 90/2020 u/s 138 for sharing of information with "Secretary, Citizen Resources Information Department, Govt. KARACHI: The Federal Board of Revenue (FBR) has notified extension in the date of filing income tax returns and statements for Tax Year 2019 till January 31, 2020. FBR notified this while discussing the section 119 of the Income tax ordinance 2001 which deals with the “extension in time for filing income tax returns”. Federal Board of Revenue has invited manual receipt of application seeking extension to file Income Tax Returns for the Tax Year 2020, in order to facilitate the taxpayers. 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