How to File Tax Return for Service Providers?
Learn how service providers in Pakistan (doctors, lawyers, engineers & more) can easily file income tax returns with FBR. Step-by-step guide!
How to Declare Open Plot & File in Your Tax Return?
In the landscape of wealth accumulation, investments in open plots or files – representing undeveloped land or rights to future property – are increasingly common. These assets, while not yet […]
Private Company vs. AOP vs. Individual – Which Business Model Suits You?
Discover the pros and cons of registering a business as a company, partnership (AOP), or individual. Learn which option best suits your needs.
How to Reconcile Net Assets for Effective Tax Planning
Reconciliation of net assets is a critical concept in finance and accounting, particularly when filing income tax returns. It ensures that all financial transactions, including income, expenses, savings, and investments, […]
How to Easily Check Your FBR Tax Information Online Using Your CNIC
In Pakistan, your CNIC (Computerized National Identity Card) is a crucial tool for linking your identity with tax records. However, it’s important to note that FBR tax cannot be directly […]
FBR Targets Taxpayers Filing Nil Returns
The Federal Board of Revenue (FBR) has implemented a new law targeting individuals who file nil tax returns, aiming to curtail the misuse of the tax system and ensure compliance. […]
FBR Clarifies Tax Rebate Eligibility for Teachers and Medical Professionals
Historical Context: Tax Rebate for Teachers and Researchers Previously, full-time teachers and researchers working in non-profit organizations or research institutions enjoyed a tax rebate of up to 25%. For example, […]
Understand the Penalties for Not Filing Your Income Tax Return
Failure to file a tax return or provide the necessary wealth statements within the due date can lead to significant fines under tax laws. Here’s a detailed explanation of the […]
How to Add Salary as a Source of Income in Your Tax Profile
Adding salary as a source of income in your tax return is a straightforward process that ensures compliance with tax regulations. By following the correct steps, you can avoid common […]
How to File Extension in Time for Filing Tax Returns?
Navigating deadlines and paperwork can be daunting, especially when it comes to taxes. Thankfully, Section 119 of the Income Tax Ordinance 2001 (ITO 2001) offers a lifeline: requesting an extension […]