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. The FBR "is pleased to further extend the date of filing of Income Tax Returns up to January 31, 2020", the notification read.It is pertinent to mention here that the prior deadline for filing Income Tax Returns expired on December 31. 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. FBR on Monday instructed to all the RTOs / LTUs regarding procedure of manual receipt of applications for extension to file income tax return for tax year 2020. In exercise of the powers conferred under Section 214A of the Income Tax Ordinance 2001 the Federal Board of Revenue is pleased… (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. Corona Virus a pandemic situation all over the world, require to provide further extension. There are many causes behind the extension reason, the main reason mentioned by the Pakistan tax bar: miscalculations in the tax return form. FBR Abolished Additional Customs Duty on Import of Electric vehicles, Auto loans increased by 19% to Rs. The FBR has extended the deadline to increase the number of tax filers from the number of previous year. Islamabad: The Federal Board of Revenue (FBR) on Wednesday provided notification of another extension in the deadline for filing Income Tax Returns/Statements for Tax Year (TY) 2020, according to news sources. The FBR said individuals and “associations of persons” who were required to file their income tax returns for the tax year 2019 first by … 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 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. To this effect, the taxation agency stretched the last date from September 30 to December 8. S.R.O. About FBR Files. It is the need of the hour to provide a favorable environment in this situation. Notification No 90/2020[F. No. modification of Board's Notification No.0779-C-IV/2020 dated 11.05.2020 in respect … According to a press release issued by FBR, every Inland Revenue field formation would establish a Help Desk to receive manual requests for extension. FBR people and concerned ministry is incompetent, lethargic ——, © 2020 ProPakistani.PK - All rights reserved. Below is the notification produced for the reference: Don’t take extension of date seriously. “The FBR is pleased to extend the time for filing of goods declaration in exercise of powers under section 224 of the Customs A, 1969, from the existing 10 days of arrival of goods, as prescribed under … On this date salaried persons, business individuals, Association Persons (AOPs) and corporate entities having special tax year are required to file income tax returns. FBR urged to withdraw date extension notification for audit completion. FBR has extended the date for filing of income tax returns from September 30th to December 8, 2020. For the tax year 2018, FBR had received 2.7 million returns — the highest number in FBR’s history. 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. 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. (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. The Federal Board of Revenue (FBR) last week circulated a notification showing concerns over low number of corporate returns filed for tax year 2020. ISLAMABAD: Owing to the spread of coronavirus pandemic, the Federal Board of Revenue (FBR) has extended up to 25 days the time duration to file goods declaration. Around 2.3 million tax returns have been filed till now as against 1.635 million returns filed in the tax year 2018. Last Friday, FBR has already cleared that it would not further extend the last date for filing income tax return for tax year 2020. The FBR didn't specify the reason for this extension but there were reports that the national exchequer didn't upload the required forms until the second week of September and the extension … However, FBR has not yet issued any income tax circular or notification in this regard. EXTENSION IN DATE FOR SUBMISSION OF SALES TAX AND Subject: FEDERAL EXCISE RETURNS ALONGWITH ANNEXURES FOR THE TAX PERIOD OF JANUARY 2020 AND FEBRUARY 2020. The Federal Board of Revenue has extended the deadline for filing income tax returns or statements for Tax Year 2019 to November 30, according to a … Where cases are already increasing day by day and taxpayers are reluctant to do compliance. FBR clarification: good news for overseas Pakistanis for taking exemption from tax on profit on bank deposits, Your email address will not be published. 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. The FBR said individuals and “associations of persons” who were required to file their income tax returns for the tax year 2020 by September 30 but … 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 -Federal Board of Revenue is the Revenue Division of Government of Pakistan tasked with collecting taxes & duties and administrating relevant legislation. Pakistan Tax Bar Association (PTBA) has already requested in a letter dated: December 02, 2020 for extension up to January 31, 2020. The Federal Board of Revenue (FBR) on Tuesday said that it had not extended the date for taxpayers to file their income tax returns. 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”. Please log in again. This all shows that FBR not interested in extension of date for filing tax return. 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. The new deadline to file income tax returns is December 8, 2020 according to a notification issued by FBR. All file types, file format descriptions, and software programs listed on this page have been individually researched and verified by the FileInfo team.We strive for 100% accuracy and only publish information about file formats that we have tested and validated. i)- That,every inland revenue field formation would establish a help desk to receive manual requests for extension.ii)- That one request for extension addressed to chief commissioner inland revenue concerned could cover multiple taxpayers provided it contains (a) taxpayers names (b) their CNIC/NTN and (c) identification of jurisdiction — to the extent possible.iii)- That the option for filing of online requests for extension would also be available and can be availed to the maximum degree.iv)- That extension would be granted generously to the extent possible. FBR collects 593 billion against the revenue target of Rs. اُردو Prime Minister's package for construction sector Follow FBR Social Media Handles Track & … 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. Videos are often combined with images, sound, and text for use in software demos or training videos. Extension in date of POS Integration for Tier-1 Retailers: 119 Extension in date for … The facility will be available until December 10 for the manual reception of extension requests. 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. © 2020, www.TAX.net.pk. A notification issued by the FBR said the date of filing of total income/statements of final taxation for individuals and associations of persons for … 120(I)/2019 dated the 1st February, 2019, the Federal Board of Revenue is Notification No Type Subject Issue Date ; 0140-C-IV/2021 (Corrigendum) Corrigendum of Board's Notification No. Our goal is to help you understand what a file with a *.fbr suffix is and how to open it. The dates have been extended considering the Eid holidays which are falling on June 04 to June 07, 2019. 90/2020 u/s 138 for sharing of information with "Secretary, Citizen Resources Information Department, Govt. That is how we work. Return filing form was finalized on 10 September. The Federal Board of Revenue (FBR) has extended the deadline for the filing of income tax returns until December 8, 2020. Who Is Trying to Ban the Drive-In Cinema in Islamabad? Your email address will not be published. After logging in you can close it and return to this page. EXIM Bank of Pakistan to Commence Operations by June 2021, Senate Committee Just Tried to Ban Online Games That Aren't Even Onli…, Pakistani Rupee Drops Below 160 Mark Against US Dollar for the First …, News of Indian FIR Against Greta Thunberg Has Twitter in Fits, Karachi's Matriculation Results Expose Deteriorating Education Standa…, 6 Definitive Bag Trends for Spring/Summer 2021, Adnan Siddiqui Shares Throwback of ‘WilCo’ with Hu…, Rihanna Upsets BJP Trolls With Her Tweet in Support of Farmers…. A notification has just been issued, confirming that deadline for filing of tax returns has been extended till December 8th, 2020. FBR completes evaluation process for grant of Track & Trace System The Nation Tuesday, 02-02-2021, Read more Exports cross $2bn mark for fourth consecutive month The Dawn Tuesday, 02-02-2021, Read more FBR finalises bidder for IT contract The Tribune Express Tuesday, 02-02-2021, Read more 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 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. December 07, 2020. It is likely that the revenue board will issue the notification late night or tomorrow. Federal Board of Revenue (FBR) notified instructions for procedures of applying extension requests in filing income tax returns for tax year 2020. FBR issued a notification regarding extension in tax filing date. 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). 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. All rights reserved. KARACHI: Tax practitioners have advised the Federal Board of Revenue (FBR) to withdraw notification related to extending time for completing audit … 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. 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. FBR has extended the date for filing of income tax returns from September 30th to December 8, 2020. A notification had circulated that stated that the FBR … A senior tax official of the FBR confirmed ProPakistani about the extension of the deadline. They will keep on extending filing date till 30 June 2021 or even beyond. 225/161 /2020 -ITA.II] / SO 4545(E) : Notification No. The login page will open in a new tab. Required fields are marked *. 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. (3)- The chief commissioners required to ensure proper receipt of all requests grant of extensions and report the number of requests received and the extensions granted by December 10.2020. Who is exempt from filing income tax returns ? 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 The FBR on November 29, 2019 granted 16 days extension for filing income tax returns. 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