How to File a NIL Tax Return for a Company?
Filing a NIL tax return for a company in Pakistan is straightforward, especially if there has been no business activity or revenue during the financial year. Follow these detailed steps […]
How to Add Business Bank Account to FBR Profile?
The Income Tax Ordinance, 2001, under Section 114A, mandates taxpayers to declare their business bank accounts to the Commissioner of Income Tax. This requirement is crucial for maintaining accurate tax […]
How to Adjust Business Losses, Tax Depreciation and Minimum Tax
Tax planning is an essential aspect of managing a business, especially when it comes to adjusting business losses, tax depreciation losses, and minimum credit to minimize tax liabilities effectively. These […]
How to File UBO Form on FBR IRIS Portal?
Before we delve into the filing process, let’s clarify what a Beneficial Owner (UBO) is. A UBO is an individual who ultimately owns or controls a legal entity, such as […]
How to Apply for Correction in CPR Online?
A CPR may need corrections if: The tax year or month is selected incorrectly. Errors occur due to the withholding agent. The NTN or CNIC is recorded incorrectly. Each situation […]
How to Apply for Change in Accounting Method?
The application to change the method of accounting is guided by Section 32(4) of the Income Tax Ordinance, 2001. According to this section: A person can apply in writing to […]
How to Remove Your Business from NTN?
As a sole proprietor in Pakistan, managing your tax obligations efficiently is crucial. One important aspect of this is keeping your National Tax Number (NTN) records accurate and up-to-date. This […]
How to Show Loan from Friends and Relatives in Income Tax Return?
This article explains the Federal Board of Revenue (FBR) regulations regarding loans taken from friends and relatives in Pakistan, focusing on avoiding tax complications and correctly reporting these loans in […]
How to File Income Tax Return of Company with FBR?
Whether your company is engaged in trading, manufacturing, or services, the process of tax filing remains similar. There are three key types of tax to consider: Normal Tax: Calculated at […]
How to Add Your Business to NTN via FBR Portal?
You must have an existing NTN. If not, register for one first on the FBR website. Step-by-Step Guide: Access IRIS: Go to iris.fbr.gov.pk and log in using your credentials. Navigate […]